Fmr LLC Cuts Position in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Fmr LLC decreased its position in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 97.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,165 shares of the company’s stock after selling 2,475,841 shares during the period. Fmr LLC owned approximately 0.15% of Pacira BioSciences worth $1,011,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in Pacira BioSciences during the second quarter valued at about $50,000. nVerses Capital LLC lifted its stake in shares of Pacira BioSciences by 800.0% in the 2nd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock valued at $51,000 after acquiring an additional 1,600 shares during the last quarter. CWM LLC grew its position in Pacira BioSciences by 713.6% during the 3rd quarter. CWM LLC now owns 6,517 shares of the company’s stock worth $98,000 after acquiring an additional 5,716 shares during the last quarter. Quest Partners LLC bought a new position in Pacira BioSciences during the 2nd quarter worth approximately $113,000. Finally, China Universal Asset Management Co. Ltd. increased its stake in Pacira BioSciences by 62.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 8,872 shares of the company’s stock worth $134,000 after purchasing an additional 3,404 shares during the period. Institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Price Performance

Shares of PCRX stock opened at $19.87 on Tuesday. The business’s fifty day moving average is $17.27 and its 200 day moving average is $18.97. 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 stock has a market cap of $917.46 million, a price-to-earnings ratio of -9.79 and a beta of 0.80. Pacira BioSciences, Inc. has a twelve month low of $11.16 and a twelve month high of $35.95.

Analyst Ratings Changes

Several brokerages have recently issued reports on PCRX. Barclays cut their target price on shares of Pacira BioSciences from $25.00 to $17.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 12th. HC Wainwright reissued a “buy” rating and issued a $39.00 price target on shares of Pacira BioSciences in a report on Wednesday, December 4th. Royal Bank of Canada upped their price objective on shares of Pacira BioSciences from $15.00 to $16.00 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. Needham & Company LLC reiterated a “buy” rating and set a $22.00 target price on shares of Pacira BioSciences in a report on Friday, November 8th. Finally, Jefferies Financial Group boosted their price target on Pacira BioSciences from $15.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $23.50.

Pacira BioSciences Profile

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.