Pacira BioSciences (NASDAQ:PCRX) Stock Rating Upgraded by Truist Financial

Pacira BioSciences (NASDAQ:PCRX) was upgraded by equities researchers at Truist Financial from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Finviz reports. The brokerage presently has a $25.00 target price on the stock, up from their prior target price of $8.00. Truist Financial’s price target indicates a potential downside of 3.96% from the company’s previous close.

A number of other analysts have also recently commented on the company. Needham & Company LLC lifted their price objective on Pacira BioSciences from $22.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Royal Bank of Canada reissued a “sector perform” rating and issued a $18.00 price objective on shares of Pacira BioSciences in a research report on Tuesday, January 14th. Barclays decreased their target price on shares of Pacira BioSciences from $25.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 12th. Finally, HC Wainwright reiterated a “buy” rating and issued a $39.00 price target on shares of Pacira BioSciences in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Pacira BioSciences presently has a consensus rating of “Hold” and an average target price of $26.20.

Pacira BioSciences Price Performance

Shares of NASDAQ:PCRX opened at $26.03 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.25. The business’s fifty day moving average price is $19.70 and its two-hundred day moving average price is $17.58. The stock has a market cap of $1.20 billion, a PE ratio of -12.82 and a beta of 0.76. Pacira BioSciences has a one year low of $11.16 and a one year high of $34.01.

Institutional Trading of Pacira BioSciences

Institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC increased its position in shares of Pacira BioSciences by 31.3% in the second quarter. Squarepoint Ops LLC now owns 28,508 shares of the company’s stock worth $816,000 after acquiring an additional 6,794 shares in the last quarter. AQR Capital Management LLC increased its holdings in Pacira BioSciences by 9.6% in the 2nd quarter. AQR Capital Management LLC now owns 67,613 shares of the company’s stock valued at $1,934,000 after purchasing an additional 5,918 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Pacira BioSciences by 6.0% in the second quarter. The Manufacturers Life Insurance Company now owns 23,932 shares of the company’s stock valued at $685,000 after purchasing an additional 1,354 shares during the period. Truist Financial Corp acquired a new position in shares of Pacira BioSciences during the second quarter worth about $423,000. Finally, Brown Financial Advisors purchased a new stake in shares of Pacira BioSciences in the second quarter worth about $295,000. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Company Profile

Pacira Biosciences, Inc is a holding company, which engages in the provision of non-opioid pain management and regenerative health solutions to improve patients’ journeys along the neural pain pathway. Its products include EXPAREL, iovera, and DepoFoam. The company was founded in December 2006 and is headquartered in Tampa, FL.