Pacira BioSciences (NASDAQ:PCRX) Stock Price Up 7.8% – What’s Next?

Pacira BioSciences, Inc. (NASDAQ:PCRX) shot up 7.8% on Wednesday . The company traded as high as $17.98 and last traded at $17.98. 139,634 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 842,305 shares. The stock had previously closed at $16.68.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PCRX shares. HC Wainwright reissued a “buy” rating and set a $39.00 price target on shares of Pacira BioSciences in a research note on Wednesday. Royal Bank of Canada boosted their price target on shares of Pacira BioSciences from $15.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 7th. Raymond James downgraded shares of Pacira BioSciences from an “outperform” rating to a “market perform” rating in a research note on Monday, August 12th. StockNews.com downgraded shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Finally, Needham & Company LLC restated a “buy” rating and set a $22.00 price objective on shares of Pacira BioSciences in a report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $23.50.

Pacira BioSciences Price Performance

The company has a market cap of $881.44 million, a price-to-earnings ratio of -9.18 and a beta of 0.80. 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 company’s fifty day moving average price is $16.58 and its two-hundred day moving average price is $19.57.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in Pacira BioSciences by 229.6% during the second quarter. GAMMA Investing LLC now owns 1,338 shares of the company’s stock worth $38,000 after purchasing an additional 932 shares during the last quarter. Innealta Capital LLC bought a new stake in Pacira BioSciences during the second quarter worth $50,000. nVerses Capital LLC raised its position in shares of Pacira BioSciences by 800.0% in the second quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock valued at $51,000 after purchasing an additional 1,600 shares during the period. CWM LLC raised its position in shares of Pacira BioSciences by 713.6% in the third quarter. CWM LLC now owns 6,517 shares of the company’s stock valued at $98,000 after purchasing an additional 5,716 shares during the period. Finally, Virtus Investment Advisers Inc. bought a new position in shares of Pacira BioSciences in the third quarter valued at about $98,000. Institutional investors and hedge funds own 99.73% of the company’s stock.

About Pacira BioSciences

Pacira BioSciences, Inc engages in the development, manufacture, marketing, distribution, and sale of non-opioid pain management and regenerative health solutions to healthcare practitioners in the United States. The company offers EXPAREL, a bupivacaine liposome injectable suspension; ZILRETTA, a triamcinolone acetonide extended-release injectable suspension; and iovera system, a non-opioid handheld cryoanalgesia device used to produce controlled doses of cold temperature to targeted nerves.