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

Pacer Advisors Inc. grew its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 129.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 10.75% of Pacira BioSciences worth $74,681,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. ProShare Advisors LLC boosted its position in Pacira BioSciences by 8.0% during the 1st quarter. ProShare Advisors LLC now owns 12,461 shares of the company’s stock valued at $364,000 after buying an additional 924 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Pacira BioSciences by 229.6% during the second quarter. GAMMA Investing LLC now owns 1,338 shares of the company’s stock worth $38,000 after purchasing an additional 932 shares during the period. Outfitter Financial LLC increased its holdings in Pacira BioSciences by 5.7% during the 2nd quarter. Outfitter Financial LLC now owns 20,190 shares of the company’s stock valued at $578,000 after purchasing an additional 1,095 shares during the period. The Manufacturers Life Insurance Company raised its position in Pacira BioSciences by 6.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,932 shares of the company’s stock valued at $685,000 after purchasing an additional 1,354 shares during the last quarter. Finally, Park Place Capital Corp purchased a new stake in Pacira BioSciences in the 2nd quarter worth approximately $46,000. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Stock Performance

Shares of Pacira BioSciences stock opened at $17.38 on Friday. Pacira BioSciences, Inc. has a 1 year low of $11.16 and a 1 year high of $35.95. The stock has a market cap of $802.43 million, a price-to-earnings ratio of -8.56 and a beta of 0.82. The firm’s 50-day moving average is $16.02 and its 200 day moving average is $20.42. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.25 and a quick ratio of 1.89.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Barclays dropped their price target on Pacira BioSciences from $25.00 to $17.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 12th. Royal Bank of Canada lifted their target price on shares of Pacira BioSciences from $15.00 to $16.00 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. Piper Sandler lowered shares of Pacira BioSciences from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $42.00 to $11.00 in a report on Monday, August 12th. Truist Financial downgraded Pacira BioSciences from a “buy” rating to a “sell” rating and reduced their target price for the stock from $30.00 to $8.00 in a report on Tuesday, August 13th. Finally, Needham & Company LLC restated a “buy” rating and issued a $22.00 target price on shares of Pacira BioSciences in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $23.50.

About Pacira BioSciences

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.