Pacira BioSciences’ (PCRX) Buy Rating Reiterated at Needham & Company LLC

Pacira BioSciences (NASDAQ:PCRX)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a note issued to investors on Friday,Benzinga reports. They presently have a $22.00 price objective on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 24.29% from the stock’s previous close.

A number of other brokerages have also weighed in on PCRX. Royal Bank of Canada boosted their price target on Pacira BioSciences from $15.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Thursday. JPMorgan Chase & Co. restated an “underweight” rating and set a $10.00 price target (down previously from $45.00) on shares of Pacira BioSciences in a research note on Monday, August 12th. Raymond James lowered Pacira BioSciences from an “outperform” rating to a “market perform” rating in a research note on Monday, August 12th. Jefferies Financial Group boosted their price target on Pacira BioSciences from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Finally, Piper Sandler downgraded Pacira BioSciences from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $42.00 to $11.00 in a report on Monday, August 12th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Pacira BioSciences presently has an average rating of “Hold” and an average price target of $24.30.

Pacira BioSciences Price Performance

Shares of PCRX stock opened at $17.70 on Friday. Pacira BioSciences has a fifty-two week low of $11.16 and a fifty-two week high of $35.95. The firm has a market capitalization of $816.50 million, a price-to-earnings ratio of 13.51 and a beta of 0.82. The company has a debt-to-equity ratio of 0.67, a quick ratio of 5.70 and a current ratio of 6.82. The stock’s 50-day simple moving average is $15.59 and its 200-day simple moving average is $21.07.

Insider Buying and Selling at Pacira BioSciences

In related news, CEO Frank D. Lee purchased 8,264 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was bought at an average cost of $12.10 per share, with a total value of $99,994.40. Following the completion of the acquisition, the chief executive officer now owns 107,784 shares of the company’s stock, valued at $1,304,186.40. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders purchased 11,176 shares of company stock valued at $136,240. 6.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PCRX. Allspring Global Investments Holdings LLC lifted its holdings in Pacira BioSciences by 114.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,188 shares of the company’s stock valued at $298,000 after acquiring an additional 5,433 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Pacira BioSciences by 1.7% during the 1st quarter. BNP Paribas Financial Markets now owns 87,936 shares of the company’s stock worth $2,569,000 after buying an additional 1,444 shares during the period. Texas Permanent School Fund Corp raised its stake in shares of Pacira BioSciences by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 40,642 shares of the company’s stock worth $1,188,000 after buying an additional 543 shares during the period. Duality Advisers LP raised its stake in shares of Pacira BioSciences by 1.8% during the 1st quarter. Duality Advisers LP now owns 34,784 shares of the company’s stock worth $1,016,000 after buying an additional 605 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Pacira BioSciences during the 1st quarter worth approximately $106,000. 99.73% of the stock is owned by institutional investors and hedge funds.

Pacira BioSciences Company Profile

Pacira BioSciences, Inc engages in the development, manufacture, marketing, distribution, and sale of non-opioid pain management and regenerative health solutions to healthcare practitioners in the United States. The company offers EXPAREL, a bupivacaine liposome injectable suspension; ZILRETTA, a triamcinolone acetonide extended-release injectable suspension; and iovera system, a non-opioid handheld cryoanalgesia device used to produce controlled doses of cold temperature to targeted nerves.