Pacira BioSciences (NASDAQ:PCRX) Receives “Sector Perform” Rating from Royal Bank of Canada

Pacira BioSciences (NASDAQ:PCRX)‘s stock had its “sector perform” rating reiterated by Royal Bank of Canada in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $18.00 price target on the stock. Royal Bank of Canada’s price objective indicates a potential downside of 13.59% from the stock’s previous close.

PCRX has been the subject of several other reports. HC Wainwright restated a “buy” rating and set a $39.00 target price on shares of Pacira BioSciences in a research report on Wednesday, December 4th. Barclays lowered 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 note on Tuesday, November 12th. Needham & Company LLC boosted their price target on shares of Pacira BioSciences from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Jefferies Financial Group raised their price objective on shares of Pacira BioSciences from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $24.50.

Pacira BioSciences Price Performance

Pacira BioSciences stock traded down $0.30 during midday trading on Tuesday, reaching $20.83. 180,302 shares of the stock were exchanged, compared to its average volume of 706,166. The company’s fifty day moving average is $18.37 and its 200-day moving average is $17.55. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.25. Pacira BioSciences has a 52 week low of $11.16 and a 52 week high of $34.01. The firm has a market cap of $961.78 million, a PE ratio of -10.26 and a beta of 0.76.

Hedge Funds Weigh In On Pacira BioSciences

A number of large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. increased its holdings in Pacira BioSciences by 18.7% during the 2nd quarter. Victory Capital Management Inc. now owns 87,639 shares of the company’s stock valued at $2,507,000 after purchasing an additional 13,776 shares during the period. Quest Partners LLC bought a new position in shares of Pacira BioSciences during the second quarter valued at approximately $113,000. American Century Companies Inc. lifted its stake in Pacira BioSciences by 16.6% in the second quarter. American Century Companies Inc. now owns 69,498 shares of the company’s stock worth $1,988,000 after acquiring an additional 9,911 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Pacira BioSciences by 12.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,828,065 shares of the company’s stock valued at $52,300,000 after acquiring an additional 198,936 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Pacira BioSciences by 9.8% in the second quarter. Renaissance Technologies LLC now owns 2,066,197 shares of the company’s stock valued at $59,114,000 after acquiring an additional 184,000 shares in the last quarter. 99.73% of the stock is owned by hedge funds and other institutional investors.

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.