Pacira BioSciences (NASDAQ:PCRX) Trading 5.7% Higher - Here's What Happened

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX - Get Free Report) rose 5.7% during mid-day trading on Monday . The company traded as high as $26.73 and last traded at $26.06. Approximately 118,813 shares were traded during trading, a decline of 88% from the average daily volume of 971,122 shares. The stock had previously closed at $24.65.

Analyst Ratings Changes

PCRX has been the subject of several research reports. Truist Financial raised Pacira BioSciences from a "sell" rating to a "hold" rating and lifted their price target for the stock from $8.00 to $25.00 in a research note on Thursday, January 30th. HC Wainwright boosted their price objective on shares of Pacira BioSciences from $48.00 to $65.00 and gave the company a "buy" rating in a research note on Tuesday, April 8th. Needham & Company LLC reaffirmed a "buy" rating and set a $32.00 price target on shares of Pacira BioSciences in a research report on Tuesday, April 8th. Royal Bank of Canada restated a "sector perform" rating and issued a $18.00 price target on shares of Pacira BioSciences in a report on Tuesday, January 14th. Finally, Barclays increased their price target on Pacira BioSciences from $17.00 to $24.00 and gave the company an "overweight" rating in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Pacira BioSciences presently has a consensus rating of "Hold" and an average price target of $26.67.

Pacira BioSciences Stock Down 1.1 %

The business has a 50-day simple moving average of $24.50 and a 200-day simple moving average of $21.45. The company has a quick ratio of 1.89, a current ratio of 2.25 and a debt-to-equity ratio of 0.51. The stock has a market cap of $1.19 billion, a P/E ratio of -12.67 and a beta of 0.71.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Sterling Capital Management LLC boosted its holdings in Pacira BioSciences by 779.4% in the 4th quarter. Sterling Capital Management LLC now owns 1,363 shares of the company's stock valued at $26,000 after purchasing an additional 1,208 shares during the period. Ancora Advisors LLC bought a new position in shares of Pacira BioSciences during the fourth quarter valued at $26,000. Caitlin John LLC boosted its position in Pacira BioSciences by 1,850.0% in the fourth quarter. Caitlin John LLC now owns 1,872 shares of the company's stock valued at $35,000 after buying an additional 1,776 shares in the last quarter. Wealthquest Corp bought a new stake in Pacira BioSciences during the 1st quarter worth approximately $59,000. Finally, Nisa Investment Advisors LLC increased its stake in shares of Pacira BioSciences by 495.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company's stock valued at $62,000 after buying an additional 2,749 shares in the last quarter. Institutional investors and hedge funds own 99.73% of the company's stock.

About Pacira BioSciences

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.