Pacira BioSciences (NASDAQ:PCRX) Shares Up 3.5% - Here's What Happened

Pacira BioSciences, Inc. (NASDAQ:PCRX - Get Free Report)'s stock price traded up 3.5% on Monday . The stock traded as high as $26.64 and last traded at $26.63. 341,952 shares changed hands during trading, a decline of 65% from the average session volume of 978,629 shares. The stock had previously closed at $25.72.

Wall Street Analyst Weigh In

Several analysts recently commented on PCRX shares. Truist Financial raised shares of Pacira BioSciences from a "sell" rating to a "hold" rating and increased their target price for the company from $8.00 to $25.00 in a research note on Thursday, January 30th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $18.00 price target on shares of Pacira BioSciences in a research report on Tuesday, January 14th. HC Wainwright raised their target price on shares of Pacira BioSciences from $48.00 to $65.00 and gave the stock a "buy" rating in a report on Tuesday, April 8th. Barclays upped their price target on shares of Pacira BioSciences from $17.00 to $24.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $32.00 price objective on shares of Pacira BioSciences in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $26.67.

Pacira BioSciences Price Performance

The stock's 50 day simple moving average is $24.64 and its 200-day simple moving average is $21.86. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -13.03 and a beta of 0.56. 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 have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its holdings in shares of Pacira BioSciences by 16.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 502,204 shares of the company's stock valued at $9,462,000 after acquiring an additional 70,307 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Pacira BioSciences by 495.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company's stock valued at $62,000 after purchasing an additional 2,749 shares during the last quarter. Empowered Funds LLC raised its position in shares of Pacira BioSciences by 5.1% in the fourth quarter. Empowered Funds LLC now owns 229,485 shares of the company's stock valued at $4,323,000 after purchasing an additional 11,149 shares during the period. Gagnon Securities LLC lifted its stake in shares of Pacira BioSciences by 4.8% in the fourth quarter. Gagnon Securities LLC now owns 321,743 shares of the company's stock worth $6,062,000 after buying an additional 14,800 shares during the last quarter. Finally, LPL Financial LLC bought a new stake in shares of Pacira BioSciences during the 4th quarter worth $251,000. 99.73% of the stock is owned by institutional investors and hedge funds.

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.