Principal Financial Group Inc. trimmed its holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX – Free Report) by 3.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 247,427 shares of the company’s stock after selling 9,329 shares during the quarter. Principal Financial Group Inc. owned about 0.54% of Pacira BioSciences worth $3,724,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in PCRX. nVerses Capital LLC lifted its position in shares of Pacira BioSciences by 800.0% during the 2nd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $51,000 after buying an additional 1,600 shares during the last quarter. Quest Partners LLC acquired a new stake in Pacira BioSciences during the 2nd quarter worth $113,000. Canada Pension Plan Investment Board purchased a new stake in Pacira BioSciences in the second quarter valued at $140,000. Virtus Investment Advisers Inc. acquired a new position in Pacira BioSciences in the third quarter valued at $98,000. Finally, CWM LLC grew its holdings in shares of Pacira BioSciences by 713.6% during the third quarter. CWM LLC now owns 6,517 shares of the company’s stock worth $98,000 after purchasing an additional 5,716 shares during the last quarter. 99.73% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
PCRX has been the subject of a number of research analyst reports. HC Wainwright reissued a “buy” rating and issued a $39.00 target price on shares of Pacira BioSciences in a research report on Wednesday, December 4th. 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. Royal Bank of Canada lifted their target price on shares of 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 increased their price target 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. Finally, Barclays dropped their price objective on shares of Pacira BioSciences from $25.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Pacira BioSciences presently has a consensus rating of “Hold” and a consensus target price of $23.50.
Pacira BioSciences Stock Performance
NASDAQ PCRX opened at $18.33 on Friday. The company has a current ratio of 2.25, a quick ratio of 1.89 and a debt-to-equity ratio of 0.51. Pacira BioSciences, Inc. has a 12-month low of $11.16 and a 12-month high of $35.95. The stock has a market capitalization of $846.35 million, a price-to-earnings ratio of -9.03 and a beta of 0.80. The business’s 50 day moving average is $18.03 and its two-hundred day moving average is $18.13.
Pacira BioSciences Company 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.
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