KLP Kapitalforvaltning AS Makes New $447,000 Investment in Pacira BioSciences, Inc. (NASDAQ:PCRX)

KLP Kapitalforvaltning AS bought a new stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 23,700 shares of the company’s stock, valued at approximately $447,000. KLP Kapitalforvaltning AS owned approximately 0.05% of Pacira BioSciences at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of PCRX. State Street Corp boosted its position in Pacira BioSciences by 5.8% during the 3rd quarter. State Street Corp now owns 2,014,012 shares of the company’s stock valued at $30,311,000 after acquiring an additional 110,162 shares in the last quarter. Impax Asset Management Group plc increased its stake in shares of Pacira BioSciences by 14.8% in the 4th quarter. Impax Asset Management Group plc now owns 540,027 shares of the company’s stock worth $10,174,000 after acquiring an additional 69,424 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Pacira BioSciences by 16.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 502,204 shares of the company’s stock valued at $9,462,000 after acquiring an additional 70,307 shares during the period. Bank of New York Mellon Corp boosted its stake in Pacira BioSciences by 11.8% during the fourth quarter. Bank of New York Mellon Corp now owns 396,399 shares of the company’s stock worth $7,468,000 after acquiring an additional 41,881 shares in the last quarter. Finally, Gagnon Securities LLC grew its holdings in Pacira BioSciences by 4.8% in the fourth quarter. Gagnon Securities LLC now owns 321,743 shares of the company’s stock worth $6,062,000 after purchasing an additional 14,800 shares during the period. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Stock Performance

Shares of PCRX opened at $23.10 on Friday. 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 stock has a 50-day moving average of $24.88 and a two-hundred day moving average of $20.29. The stock has a market cap of $1.07 billion, a P/E ratio of -11.38 and a beta of 0.70. Pacira BioSciences, Inc. has a one year low of $11.16 and a one year high of $31.67.

Analyst Ratings Changes

A number of brokerages recently issued reports on PCRX. Royal Bank of Canada reiterated a “sector perform” rating and issued a $18.00 price target on shares of Pacira BioSciences in a research note on Tuesday, January 14th. HC Wainwright upped their target price on shares of Pacira BioSciences from $57.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Needham & Company LLC raised their price target on shares of Pacira BioSciences from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Barclays upped their price objective on Pacira BioSciences from $17.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Finally, Truist Financial upgraded Pacira BioSciences from a “sell” rating to a “hold” rating and increased their target price for the company from $8.00 to $25.00 in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $27.22.

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.