Pacira BioSciences (NASDAQ:PCRX) Stock Rating Upgraded by Truist Financial

Key Points

• Pacira BioSciences was upgraded by Truist Financial from a "hold" to a "buy" rating, with a price target of $30.00, indicating a potential upside of 34.71% from its previous close.
• Multiple analysts have recently rated Pacira BioSciences positively, with a consensus rating of "Moderate Buy" and a target price of $27.00.
• The company's stock performance shows a market capitalization of $1.03 billion and has traded between a 52-week low of $11.16 and a high of $27.64.
• Approximately 99.73% of Pacira BioSciences' stock is owned by institutional investors and hedge funds, indicating strong institutional support.

Truist Financial upgraded shares of Pacira BioSciences (NASDAQ:PCRX - Free Report) from a hold rating to a buy rating in a report released on Friday morning, Marketbeat reports. Truist Financial currently has $30.00 target price on the stock.

Other equities analysts have also issued research reports about the stock. HC Wainwright increased their target price on shares of Pacira BioSciences from $48.00 to $65.00 and gave the company a "buy" rating in a report on Tuesday, April 8th. Wall Street Zen raised shares of Pacira BioSciences from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Finally, Needham & Company LLC reduced their target price on shares of Pacira BioSciences from $32.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Pacira BioSciences currently has a consensus rating of "Moderate Buy" and an average target price of $27.00.

Pacira BioSciences Price Performance

Shares of Pacira BioSciences stock traded down $0.20 on Friday, hitting $21.85. 73,609 shares of the company traded hands, compared to its average volume of 793,898. The firm's 50-day simple moving average is $24.19 and its 200 day simple moving average is $24.58. The company has a current ratio of 2.41, a quick ratio of 1.99 and a debt-to-equity ratio of 0.48. The company has a market cap of $1.01 billion, a P/E ratio of -9.58 and a beta of 0.48. Pacira BioSciences has a 12-month low of $11.16 and a 12-month high of $27.64.

Insider Buying and Selling

In related news, SVP Lauren Riker sold 5,578 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $26.21, for a total transaction of $146,199.38. Following the sale, the senior vice president owned 59,564 shares of the company's stock, valued at $1,561,172.44. The trade was a 8.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 6.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Pacira BioSciences

Hedge funds have recently bought and sold shares of the business. Sterling Capital Management LLC boosted its stake in Pacira BioSciences by 779.4% during the fourth quarter. Sterling Capital Management LLC now owns 1,363 shares of the company's stock worth $26,000 after acquiring an additional 1,208 shares in the last quarter. Ancora Advisors LLC bought a new position in shares of Pacira BioSciences in the fourth quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Pacira BioSciences in the first quarter worth approximately $51,000. Brooklyn Investment Group lifted its stake in shares of Pacira BioSciences by 372.2% in the first quarter. Brooklyn Investment Group now owns 2,238 shares of the company's stock worth $56,000 after buying an additional 1,764 shares in the last quarter. Finally, US Bancorp DE lifted its stake in shares of Pacira BioSciences by 31.0% in the first quarter. US Bancorp DE now owns 2,270 shares of the company's stock worth $56,000 after buying an additional 537 shares in the last quarter. 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.