Pacer Advisors Inc. Purchases 2,799,434 Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX)

Pacer Advisors Inc. raised its stake in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 129.4% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 4,962,221 shares of the company's stock after buying an additional 2,799,434 shares during the quarter. Pacer Advisors Inc. owned approximately 10.75% of Pacira BioSciences worth $74,681,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. Fort Washington Investment Advisors Inc. OH acquired a new position in Pacira BioSciences during the 2nd quarter valued at about $13,240,000. Assenagon Asset Management S.A. lifted its stake in Pacira BioSciences by 314.4% during the third quarter. Assenagon Asset Management S.A. now owns 553,114 shares of the company's stock valued at $8,324,000 after purchasing an additional 419,656 shares during the last quarter. Doma Perpetual Capital Management LLC boosted its stake in shares of Pacira BioSciences by 71.8% during the 2nd quarter. Doma Perpetual Capital Management LLC now owns 1,000,761 shares of the company's stock worth $28,632,000 after acquiring an additional 418,321 shares in the last quarter. Empowered Funds LLC acquired a new stake in Pacira BioSciences during the 3rd quarter worth about $3,286,000. Finally, Impax Asset Management Group plc boosted its stake 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 worth $7,083,000 after purchasing an additional 210,576 shares during the period. Institutional investors and hedge funds own 99.73% of the company's stock.

Pacira BioSciences Price Performance

NASDAQ PCRX traded up $0.17 during trading on Friday, reaching $17.55. 495,169 shares of the company traded hands, compared to its average volume of 851,020. The stock's 50 day moving average price is $16.12 and its two-hundred day moving average price is $20.40. 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 company has a market cap of $810.34 million, a price-to-earnings ratio of -8.56 and a beta of 0.82. Pacira BioSciences, Inc. has a 1-year low of $11.16 and a 1-year high of $35.95.

Analyst Ratings Changes

PCRX has been the topic of a number of research analyst reports. Barclays lowered their price target on Pacira BioSciences from $25.00 to $17.00 and set an "equal weight" rating on the stock in a report on Tuesday, November 12th. JPMorgan Chase & Co. reissued an "underweight" rating and set a $10.00 price objective (down previously from $45.00) on shares of Pacira BioSciences in a research report on Monday, August 12th. Jefferies Financial Group increased their price objective on Pacira BioSciences from $15.00 to $18.00 and gave the stock a "buy" rating in a report on Tuesday, September 24th. Needham & Company LLC reissued a "buy" rating and issued a $22.00 target price on shares of Pacira BioSciences in a research report on Friday, November 8th. Finally, Piper Sandler downgraded shares of Pacira BioSciences from an "overweight" rating to a "neutral" rating and cut their price target for the company from $42.00 to $11.00 in a report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $23.50.

Pacira BioSciences Company Profile

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.