Norges Bank Invests $2.41 Million in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Norges Bank acquired a new stake in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 127,655 shares of the company's stock, valued at approximately $2,405,000. Norges Bank owned approximately 0.28% of Pacira BioSciences at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. State Street Corp lifted its position in Pacira BioSciences by 5.8% during the third quarter. State Street Corp now owns 2,014,012 shares of the company's stock worth $30,311,000 after buying an additional 110,162 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in Pacira BioSciences by 18.1% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 56,385 shares of the company's stock worth $1,062,000 after purchasing an additional 8,636 shares during the period. Nisa Investment Advisors LLC increased its position in Pacira BioSciences by 495.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company's stock worth $62,000 after buying an additional 2,749 shares during the period. Gagnon Securities LLC grew its holdings in Pacira BioSciences by 4.8% in 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. Finally, China Universal Asset Management Co. Ltd. increased its stake in shares of Pacira BioSciences by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,790 shares of the company's stock valued at $184,000 after acquiring an additional 918 shares during the period. Hedge funds and other institutional investors own 99.73% of the company's stock.

Pacira BioSciences Trading Up 1.0 %

PCRX traded up $0.24 during trading on Thursday, reaching $24.71. The company had a trading volume of 69,597 shares, compared to its average volume of 967,057. Pacira BioSciences, Inc. has a 52 week low of $11.16 and a 52 week high of $31.67. The business has a 50 day simple moving average of $24.64 and a 200-day simple moving average of $20.98. The stock has a market cap of $1.14 billion, a P/E ratio of -12.18 and a beta of 0.71. The company has a quick ratio of 1.89, a current ratio of 2.25 and a debt-to-equity ratio of 0.51.

Analysts Set New Price Targets

PCRX has been the subject of several research analyst reports. HC Wainwright increased 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, April 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $32.00 price target on shares of Pacira BioSciences in a research note on Tuesday, April 8th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $18.00 price target on shares of Pacira BioSciences in a report on Tuesday, January 14th. Barclays raised their target price on shares of Pacira BioSciences from $17.00 to $24.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Finally, Truist Financial raised shares of Pacira BioSciences from a "sell" rating to a "hold" rating and upped their target price for the company from $8.00 to $25.00 in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $26.67.

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.