Arrowstreet Capital Limited Partnership Sells 505,307 Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX)

Arrowstreet Capital Limited Partnership cut its holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 43.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 647,318 shares of the company's stock after selling 505,307 shares during the period. Arrowstreet Capital Limited Partnership owned 1.40% of Pacira BioSciences worth $12,195,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Pacira BioSciences during the fourth quarter worth about $2,405,000. EntryPoint Capital LLC lifted its stake in shares of Pacira BioSciences by 44.3% in the 4th quarter. EntryPoint Capital LLC now owns 23,021 shares of the company's stock valued at $434,000 after purchasing an additional 7,062 shares during the period. LPL Financial LLC acquired a new position in shares of Pacira BioSciences in the 4th quarter valued at $251,000. Simplify Asset Management Inc. acquired a new position in shares of Pacira BioSciences in the 4th quarter valued at $711,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Pacira BioSciences in the 4th quarter valued at $447,000. 99.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PCRX shares. Barclays raised their price objective on Pacira BioSciences from $17.00 to $24.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. HC Wainwright raised their price objective on Pacira BioSciences from $48.00 to $65.00 and gave the stock a "buy" rating in a research note on Tuesday. Needham & Company LLC reiterated a "buy" rating and set a $32.00 target price on shares of Pacira BioSciences in a report on Tuesday. Truist Financial upgraded Pacira BioSciences from a "sell" rating to a "hold" rating and increased their target price for the stock from $8.00 to $25.00 in a report on Thursday, January 30th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $18.00 target price on shares of Pacira BioSciences in a report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Pacira BioSciences presently has a consensus rating of "Hold" and a consensus price target of $26.67.

Pacira BioSciences Price Performance

Shares of NASDAQ PCRX traded down $2.14 during midday trading on Thursday, reaching $23.70. The company's stock had a trading volume of 264,990 shares, compared to its average volume of 910,447. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.25. Pacira BioSciences, Inc. has a fifty-two week low of $11.16 and a fifty-two week high of $31.67. The business's 50 day moving average price is $24.82 and its two-hundred day moving average price is $20.67. The company has a market cap of $1.10 billion, a P/E ratio of -11.67 and a beta of 0.71.

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.