Pacira BioSciences (NASDAQ:PCRX) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Pacira BioSciences (NASDAQ:PCRX - Free Report) from a hold rating to a buy rating in a report issued on Friday.

A number of other analysts also recently issued reports on PCRX. HC Wainwright raised their target price on Pacira BioSciences from $48.00 to $65.00 and gave the stock a "buy" rating in a research report on Tuesday, April 8th. Barclays raised their target price on Pacira BioSciences from $17.00 to $24.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Finally, Needham & Company LLC decreased their target price on Pacira BioSciences from $32.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $26.44.

Pacira BioSciences Stock Performance

Shares of PCRX traded down $0.55 on Friday, reaching $25.42. 552,134 shares of the company's stock traded hands, compared to its average volume of 973,200. Pacira BioSciences has a 52-week low of $11.16 and a 52-week high of $29.95. The stock's 50 day simple moving average is $25.53 and its two-hundred day simple moving average is $23.41. The company has a current ratio of 2.25, a quick ratio of 1.89 and a debt-to-equity ratio of 0.51. The stock has a market cap of $1.18 billion, a PE ratio of -12.52 and a beta of 0.52.

Insider Activity

In other news, SVP Lauren Riker sold 5,578 shares of Pacira BioSciences 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 transaction, the senior vice president now directly owns 59,564 shares in the company, valued at approximately $1,561,172.44. The trade was a 8.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pacira BioSciences

Hedge funds have recently bought and sold shares of the company. Sterling Capital Management LLC grew 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 valued at $26,000 after acquiring an additional 1,208 shares in the last quarter. Ancora Advisors LLC purchased a new position in Pacira BioSciences during the fourth quarter valued at approximately $26,000. Caitlin John LLC grew its stake in Pacira BioSciences by 1,850.0% during the fourth quarter. Caitlin John LLC now owns 1,872 shares of the company's stock valued at $35,000 after acquiring an additional 1,776 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Pacira BioSciences during the first quarter worth about $51,000. Finally, US Bancorp DE grew its position in Pacira BioSciences by 31.0% during 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. Hedge funds and other 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.