The Manufacturers Life Insurance Company Sells 6,552 Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX)

The Manufacturers Life Insurance Company lessened its holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 27.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,380 shares of the company’s stock after selling 6,552 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Pacira BioSciences were worth $262,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Algert Global LLC bought a new stake in shares of Pacira BioSciences in the third quarter valued at about $886,000. Charles Schwab Investment Management Inc. increased its stake in shares of Pacira BioSciences by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 431,897 shares of the company’s stock valued at $6,500,000 after purchasing an additional 16,819 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Pacira BioSciences by 129.4% in the 3rd quarter. Pacer Advisors Inc. now owns 4,962,221 shares of the company’s stock worth $74,681,000 after acquiring an additional 2,799,434 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Pacira BioSciences in the 3rd quarter worth about $217,000. Finally, Intech Investment Management LLC acquired a new stake in Pacira BioSciences in the 3rd quarter valued at about $191,000. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Analysts Set New Price Targets

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

Pacira BioSciences Stock Performance

Shares of PCRX opened at $19.87 on Tuesday. Pacira BioSciences, Inc. has a 1 year low of $11.16 and a 1 year high of $35.95. The company’s 50 day simple moving average is $17.27 and its 200 day simple moving average is $18.97. 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 market capitalization of $917.46 million, a price-to-earnings ratio of -9.79 and a beta of 0.80.

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.