Needham & Company LLC Forecasts Strong Price Appreciation for Pacira BioSciences (NASDAQ:PCRX) Stock

Pacira BioSciences (NASDAQ:PCRX) had its price objective increased by stock analysts at Needham & Company LLC from $30.00 to $32.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target would suggest a potential upside of 33.06% from the stock’s current price.

Several other research analysts also recently commented on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $18.00 price objective on shares of Pacira BioSciences in a research note on Tuesday, January 14th. Truist Financial upgraded shares of Pacira BioSciences from a “sell” rating to a “hold” rating and raised their target price for the stock from $8.00 to $25.00 in a research note on Thursday, January 30th. HC Wainwright reaffirmed a “buy” rating and set a $39.00 price target on shares of Pacira BioSciences in a report on Wednesday, December 4th. Finally, Barclays reduced their price objective on shares of Pacira BioSciences from $25.00 to $17.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $27.22.

Pacira BioSciences Trading Down 5.2 %

NASDAQ:PCRX opened at $24.05 on Friday. Pacira BioSciences has a one year low of $11.16 and a one year high of $31.67. The business has a fifty day moving average price of $23.16 and a 200-day moving average price of $18.63. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of -11.85 and a beta of 0.80. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.25 and a quick ratio of 1.89.

Hedge Funds Weigh In On Pacira BioSciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. lifted its stake in Pacira BioSciences by 129.4% in the 3rd quarter. Pacer Advisors Inc. now owns 4,962,221 shares of the company’s stock worth $74,681,000 after purchasing an additional 2,799,434 shares in the last quarter. State Street Corp increased its holdings in shares of Pacira BioSciences by 5.8% in the third quarter. State Street Corp now owns 2,014,012 shares of the company’s stock worth $30,311,000 after purchasing an additional 110,162 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Pacira BioSciences by 0.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,992,601 shares of the company’s stock worth $37,541,000 after buying an additional 13,604 shares in the last quarter. Geode Capital Management LLC boosted its stake in Pacira BioSciences by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 1,091,970 shares of the company’s stock valued at $20,578,000 after buying an additional 5,071 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in Pacira BioSciences during the 4th quarter valued at approximately $20,266,000. 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.