Fintel reports that on October 3, 2023, RBC Capital reiterated coverage of Pacira BioSciences (NASDAQ:PCRX) with a Outperform recommendation.
Analyst Price Forecast Suggests 94.25% Upside
As of August 31, 2023, the average one-year price target for Pacira BioSciences is 56.78. The forecasts range from a low of 46.46 to a high of $71.40. The average price target represents an increase of 94.25% from its latest reported closing price of 29.23.
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The projected annual revenue for Pacira BioSciences is 788MM, an increase of 17.81%. The projected annual non-GAAP EPS is 4.03.
What is the Fund Sentiment?
There are 576 funds or institutions reporting positions in Pacira BioSciences. This is a decrease of 24 owner(s) or 4.00% in the last quarter. Average portfolio weight of all funds dedicated to PCRX is 0.20%, a decrease of 15.27%. Total shares owned by institutions decreased in the last three months by 1.98% to 55,055K shares. 
The put/call ratio of PCRX is 0.85, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 3,225K shares representing 6.95% ownership of the company. In it's prior filing, the firm reported owning 3,346K shares, representing a decrease of 3.78%. The firm decreased its portfolio allocation in PCRX by 8.37% over the last quarter.
Frontier Capital Management Co holds 1,685K shares representing 3.63% ownership of the company. In it's prior filing, the firm reported owning 1,604K shares, representing an increase of 4.82%. The firm decreased its portfolio allocation in PCRX by 4.43% over the last quarter.
Baillie Gifford holds 1,659K shares representing 3.57% ownership of the company. In it's prior filing, the firm reported owning 1,891K shares, representing a decrease of 14.00%. The firm increased its portfolio allocation in PCRX by 117.42% over the last quarter.
Renaissance Technologies holds 1,575K shares representing 3.39% ownership of the company. In it's prior filing, the firm reported owning 1,559K shares, representing an increase of 1.00%. The firm increased its portfolio allocation in PCRX by 7.71% over the last quarter.
Invesco holds 1,385K shares representing 2.98% ownership of the company. In it's prior filing, the firm reported owning 1,398K shares, representing a decrease of 0.98%. The firm increased its portfolio allocation in PCRX by 887.17% over the last quarter.
Pacira BioSciences Background Information
(This description is provided by the company.)
Pacira BioSciences, Inc.is the industry leader in its commitment to non-opioid pain management and regenerative health solutions to improve patients' journeys along the neural pain pathway. The company's long-acting local analgesic, EXPAREL ® (bupivacaine liposome injectable suspension) was commercially launched in the United States in April 2012. EXPAREL utilizes DepoFoam®, a unique and proprietary product delivery technology that encapsulates drugs without altering their molecular structure, and releases them over a desired period of time. In April 2019, Pacira acquired the iovera° system, a handheld cryoanalgesia device used to deliver precise, controlled doses of cold temperature only to targeted nerves.
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