Pacer Advisors Inc. Increases Stock Position in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Pacer Advisors Inc. increased its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 129.4% in the 3rd quarter, Holdings Channel reports. The firm owned 4,962,221 shares of the company’s stock after buying an additional 2,799,434 shares during the period. Pacer Advisors Inc. owned 0.11% of Pacira BioSciences worth $74,681,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Pacira BioSciences by 0.3% in the first quarter. Vanguard Group Inc. now owns 5,113,384 shares of the company’s stock worth $149,413,000 after purchasing an additional 14,960 shares during the last quarter. Renaissance Technologies LLC grew its position in Pacira BioSciences by 9.8% during the second quarter. Renaissance Technologies LLC now owns 2,066,197 shares of the company’s stock valued at $59,114,000 after buying an additional 184,000 shares during the period. Dimensional Fund Advisors LP grew its position in Pacira BioSciences by 12.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,828,065 shares of the company’s stock valued at $52,300,000 after buying an additional 198,936 shares during the period. Doma Perpetual Capital Management LLC increased its holdings in Pacira BioSciences by 71.8% during the second quarter. Doma Perpetual Capital Management LLC now owns 1,000,761 shares of the company’s stock valued at $28,632,000 after buying an additional 418,321 shares during the last quarter. Finally, Marshall Wace LLP raised its position in Pacira BioSciences by 19.7% in the second quarter. Marshall Wace LLP now owns 971,143 shares of the company’s stock worth $27,784,000 after acquiring an additional 159,791 shares during the period. Institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Stock Performance

PCRX opened at $17.38 on Friday. Pacira BioSciences, Inc. has a fifty-two week low of $11.16 and a fifty-two week high of $35.95. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.25. The company has a fifty day moving average of $16.02 and a 200 day moving average of $20.42. The stock has a market capitalization of $802.43 million, a price-to-earnings ratio of -8.56 and a beta of 0.82.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Piper Sandler downgraded shares of Pacira BioSciences from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $42.00 to $11.00 in a research report on Monday, August 12th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $10.00 price target (down previously from $45.00) on shares of Pacira BioSciences in a research report on Monday, August 12th. Raymond James cut Pacira BioSciences from an “outperform” rating to a “market perform” rating in a research report on Monday, August 12th. StockNews.com lowered shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, Needham & Company LLC restated a “buy” rating and set a $22.00 target price on shares of Pacira BioSciences in a research note on Friday, November 8th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $23.50.

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.