KLP Kapitalforvaltning AS Purchases New Holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX)

KLP Kapitalforvaltning AS acquired a new stake in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 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 institutional investors and hedge funds have also recently modified their holdings of PCRX. State Street Corp grew its position in Pacira BioSciences by 5.8% in 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 boosted its stake in shares of Pacira BioSciences by 14.8% in the fourth quarter. Impax Asset Management Group plc now owns 540,027 shares of the company's stock valued at $10,174,000 after purchasing an additional 69,424 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Pacira BioSciences by 16.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 502,204 shares of the company's stock valued at $9,462,000 after purchasing an additional 70,307 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Pacira BioSciences by 11.8% during the 4th quarter. Bank of New York Mellon Corp now owns 396,399 shares of the company's stock worth $7,468,000 after buying an additional 41,881 shares during the period. Finally, Gagnon Securities LLC lifted its holdings in Pacira BioSciences by 4.8% during the 4th quarter. Gagnon Securities LLC now owns 321,743 shares of the company's stock worth $6,062,000 after buying an additional 14,800 shares in the last quarter. Hedge funds and other institutional investors own 99.73% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on PCRX. HC Wainwright boosted their price target on shares of Pacira BioSciences from $48.00 to $65.00 and gave the stock a "buy" rating in a research note on Tuesday. Barclays boosted their target price on Pacira BioSciences from $17.00 to $24.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $18.00 price objective on shares of Pacira BioSciences in a research note on Tuesday, January 14th. Needham & Company LLC reissued a "buy" rating and set a $32.00 price objective on shares of Pacira BioSciences in a research report on Tuesday. Finally, Truist Financial raised shares of Pacira BioSciences from a "sell" rating to a "hold" rating and raised their target price for the company from $8.00 to $25.00 in a report on Thursday, January 30th. One equities research 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.com, the stock has an average rating of "Hold" and an average price target of $26.67.

Pacira BioSciences Stock Down 1.6 %

PCRX stock traded down $0.43 during midday trading on Wednesday, reaching $25.84. 2,731,586 shares of the company were exchanged, compared to its average volume of 964,763. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -12.73 and a beta of 0.71. 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 1-year low of $11.16 and a 1-year high of $31.67. The stock's 50-day simple moving average is $24.82 and its 200 day simple moving average is $20.67.

About Pacira BioSciences

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.