Connor Clark & Lunn Investment Management Ltd. Sells 36,396 Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX)

Connor Clark & Lunn Investment Management Ltd. lowered its position in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 45.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,137 shares of the company's stock after selling 36,396 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.10% of Pacira BioSciences worth $832,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its position in Pacira BioSciences by 129.4% in the third quarter. Pacer Advisors Inc. now owns 4,962,221 shares of the company's stock worth $74,681,000 after acquiring an additional 2,799,434 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Pacira BioSciences by 269.7% in the third quarter. BNP Paribas Financial Markets now owns 395,695 shares of the company's stock worth $5,955,000 after purchasing an additional 288,662 shares in the last quarter. PDT Partners LLC acquired a new position in Pacira BioSciences during the third quarter worth $3,469,000. State Street Corp raised its holdings in Pacira BioSciences by 5.8% during the third quarter. State Street Corp now owns 2,014,012 shares of the company's stock valued at $30,311,000 after buying an additional 110,162 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position 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 worth $9,462,000 after buying an additional 70,307 shares during the last quarter. Institutional investors own 99.73% of the company's stock.

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Analysts Set New Price Targets

A number of research analysts have recently commented on PCRX shares. Truist Financial raised Pacira BioSciences from a "sell" rating to a "hold" rating and increased their price objective for the company from $8.00 to $25.00 in a report on Thursday, January 30th. Royal Bank of Canada reiterated a "sector perform" rating and set a $18.00 price target on shares of Pacira BioSciences in a report on Tuesday, January 14th. Barclays boosted their price objective on shares of 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 upped their price objective on shares of Pacira BioSciences from $57.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, Needham & Company LLC lifted their target price on shares of Pacira BioSciences from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Pacira BioSciences has a consensus rating of "Hold" and an average target price of $27.22.

Pacira BioSciences Stock Performance

Shares of PCRX traded down $0.30 during trading hours on Tuesday, reaching $24.54. 1,333,870 shares of the company traded hands, compared to its average volume of 909,405. 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 stock's fifty day moving average is $24.52 and its 200 day moving average is $19.68. Pacira BioSciences, Inc. has a 1-year low of $11.16 and a 1-year high of $31.67. The stock has a market cap of $1.14 billion, a P/E ratio of -12.09 and a beta of 0.86.

Pacira BioSciences 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.