Geode Capital Management LLC Reduces Stock Holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Geode Capital Management LLC reduced its holdings in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 0.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,086,899 shares of the company’s stock after selling 2,405 shares during the period. Geode Capital Management LLC owned approximately 2.35% of Pacira BioSciences worth $16,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Virtus Investment Advisers Inc. acquired a new position in shares of Pacira BioSciences during the third quarter valued at about $98,000. State Street Corp grew its holdings in shares of Pacira BioSciences by 5.8% during the third quarter. State Street Corp now owns 2,014,012 shares of the company’s stock valued at $30,311,000 after buying an additional 110,162 shares during the last quarter. Centiva Capital LP acquired a new position in shares of Pacira BioSciences in the 3rd quarter valued at $398,000. PDT Partners LLC purchased a new position in Pacira BioSciences in the 3rd quarter worth $3,469,000. Finally, Verition Fund Management LLC acquired a new stake in Pacira BioSciences during the 3rd quarter worth about $493,000. 99.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Pacira BioSciences Stock Down 0.8 %

NASDAQ PCRX opened at $19.65 on Monday. The business has a fifty day moving average price of $17.91 and a 200 day moving average price of $18.25. 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 cap of $907.30 million, a P/E ratio of -9.68 and a beta of 0.80. Pacira BioSciences, Inc. has a one year low of $11.16 and a one year high of $35.95.

Pacira BioSciences Profile

Pacira Biosciences, Inc is a holding company, which engages in the provision of non-opioid pain management and regenerative health solutions to improve patients’ journeys along the neural pain pathway. Its products include EXPAREL, iovera, and DepoFoam. The company was founded in December 2006 and is headquartered in Tampa, FL.