Victory Capital Management Inc. Grows Stake in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Victory Capital Management Inc. raised its stake in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 39.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,228 shares of the company's stock after acquiring an additional 34,589 shares during the period. Victory Capital Management Inc. owned approximately 0.26% of Pacira BioSciences worth $1,840,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Entropy Technologies LP bought a new position in shares of Pacira BioSciences in the 3rd quarter valued at $207,000. Los Angeles Capital Management LLC raised its stake in shares of Pacira BioSciences by 942.7% in the third quarter. Los Angeles Capital Management LLC now owns 145,930 shares of the company's stock worth $2,196,000 after purchasing an additional 131,934 shares during the last quarter. Easterly Investment Partners LLC grew its holdings in shares of Pacira BioSciences by 27.4% in the third quarter. Easterly Investment Partners LLC now owns 134,484 shares of the company's stock valued at $2,024,000 after acquiring an additional 28,928 shares in the last quarter. Impax Asset Management Group plc grew its holdings in shares of Pacira BioSciences by 81.0% in the third quarter. Impax Asset Management Group plc now owns 470,603 shares of the company's stock valued at $7,083,000 after acquiring an additional 210,576 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. bought a new position in shares of Pacira BioSciences in the third quarter valued at approximately $1,053,000. 99.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Truist Financial lowered Pacira BioSciences from a "buy" rating to a "sell" rating and reduced their price objective for the company from $30.00 to $8.00 in a report on Tuesday, August 13th. Royal Bank of Canada raised their target price on Pacira BioSciences from $15.00 to $16.00 and gave the stock a "sector perform" rating in a research note on Thursday, November 7th. Needham & Company LLC reaffirmed a "buy" rating and set a $22.00 price objective on shares of Pacira BioSciences in a research report on Friday, November 8th. StockNews.com cut Pacira BioSciences from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 12th. Finally, JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $10.00 price objective (down from $45.00) on shares of Pacira BioSciences in a research report on Monday, August 12th. Two investment analysts have 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. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $23.50.

Pacira BioSciences Stock Down 0.3 %

Shares of Pacira BioSciences stock traded down $0.05 on Monday, reaching $17.50. The company's stock had a trading volume of 195,789 shares, compared to its average volume of 848,086. The company has a market capitalization of $807.98 million, a price-to-earnings ratio of -8.67 and a beta of 0.82. The firm's fifty day simple moving average is $16.21 and its two-hundred day simple moving average is $20.23. Pacira BioSciences, Inc. has a 52 week low of $11.16 and a 52 week high of $35.95. The company has a quick ratio of 1.89, a current ratio of 2.25 and a debt-to-equity ratio of 0.51.

Pacira BioSciences 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.