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.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) was upgraded by investment analysts at Truist Financial from a "hold" rating to a "buy" rating in a note issued to investors on Friday,Finviz reports. The firm currently has a $30.00 price target on the stock. Truist Financial's price objective suggests a potential upside of 34.71% from the stock's previous close.

PCRX has been the topic of several other research reports. Wall Street Zen upgraded Pacira BioSciences from a "hold" rating to a "buy" rating in a report on Friday, June 6th. HC Wainwright upped their price objective on Pacira BioSciences from $48.00 to $65.00 and gave the company a "buy" rating in a research note on Tuesday, April 8th. Finally, Needham & Company LLC dropped their price objective on Pacira BioSciences from $32.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.00.

Pacira BioSciences Stock Performance

PCRX opened at $22.27 on Friday. Pacira BioSciences has a 52-week low of $11.16 and a 52-week high of $27.64. The firm has a market capitalization of $1.03 billion, a PE ratio of -9.82 and a beta of 0.48. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.99 and a current ratio of 2.41. The business's 50-day simple moving average is $24.34 and its 200 day simple moving average is $24.46.

Insider Transactions at Pacira BioSciences

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

Institutional Investors Weigh In On Pacira BioSciences

Large investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC grew its position 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 buying an additional 1,208 shares in the last quarter. Ancora Advisors LLC acquired a new stake in shares of Pacira BioSciences in the 4th quarter valued at $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Pacira BioSciences in the 1st quarter valued at $51,000. US Bancorp DE raised its holdings in shares of Pacira BioSciences by 31.0% during the 1st 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. Finally, Brooklyn Investment Group lifted its position in shares of Pacira BioSciences by 372.2% during the 1st quarter. Brooklyn Investment Group now owns 2,238 shares of the company's stock worth $56,000 after buying an additional 1,764 shares during 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.

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