Principal Financial Group Inc. Sells 9,329 Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX)

Principal Financial Group Inc. cut its holdings in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 3.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 247,427 shares of the company’s stock after selling 9,329 shares during the period. Principal Financial Group Inc. owned about 0.53% of Pacira BioSciences worth $3,724,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Pacer Advisors Inc. boosted its position in Pacira BioSciences by 37.5% in the 2nd quarter. Pacer Advisors Inc. now owns 2,162,787 shares of the company’s stock valued at $61,877,000 after buying an additional 590,082 shares during the last quarter. Fort Washington Investment Advisors Inc. OH bought a new position in Pacira BioSciences in the 2nd quarter valued at $13,240,000. Assenagon Asset Management S.A. boosted its position in Pacira BioSciences by 314.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 553,114 shares of the company’s stock valued at $8,324,000 after buying an additional 419,656 shares during the last quarter. Doma Perpetual Capital Management LLC boosted its position in Pacira BioSciences by 71.8% in the 2nd quarter. Doma Perpetual Capital Management LLC now owns 1,000,761 shares of the company’s stock valued at $28,632,000 after buying an additional 418,321 shares during the last quarter. Finally, Impax Asset Management Group plc boosted its position in Pacira BioSciences by 81.0% in the 3rd quarter. Impax Asset Management Group plc now owns 470,603 shares of the company’s stock valued at $7,083,000 after buying an additional 210,576 shares during the last quarter. 99.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PCRX shares. Needham & Company LLC reissued a “buy” rating and issued a $22.00 price target on shares of Pacira BioSciences in a research note on Friday, November 8th. Truist Financial downgraded Pacira BioSciences from a “buy” rating to a “sell” rating and cut their price target for the company from $30.00 to $8.00 in a research note on Tuesday, August 13th. HC Wainwright cut their price target on Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Jefferies Financial Group increased their price target on Pacira BioSciences from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Finally, Barclays cut their price target on 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 analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $23.50.

Pacira BioSciences Stock Performance

Shares of Pacira BioSciences stock opened at $17.38 on Friday. The stock’s fifty day simple moving average is $16.02 and its 200 day simple moving average is $20.42. Pacira BioSciences, Inc. has a 12 month low of $11.16 and a 12 month high of $35.95. The company has a market capitalization of $802.43 million, a PE ratio of -8.56 and a beta of 0.82. The company has a current ratio of 2.25, a quick ratio of 1.89 and a debt-to-equity ratio of 0.51.

About Pacira BioSciences

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.