Balyasny Asset Management L.P. Makes New $8.18 Million Investment in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Balyasny Asset Management L.P. purchased a new position in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 434,206 shares of the company's stock, valued at approximately $8,180,000. Balyasny Asset Management L.P. owned 0.94% of Pacira BioSciences as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PCRX. Renaissance Technologies LLC boosted its position in shares of Pacira BioSciences by 0.7% in the 4th quarter. Renaissance Technologies LLC now owns 1,992,601 shares of the company's stock worth $37,541,000 after purchasing an additional 13,604 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Pacira BioSciences by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 1,091,970 shares of the company's stock worth $20,578,000 after acquiring an additional 5,071 shares in the last quarter. Northern Trust Corp boosted its holdings in Pacira BioSciences by 30.8% in the fourth quarter. Northern Trust Corp now owns 616,891 shares of the company's stock worth $11,622,000 after acquiring an additional 145,205 shares in the last quarter. Impax Asset Management Group plc boosted its holdings in Pacira BioSciences by 14.8% in the fourth quarter. Impax Asset Management Group plc now owns 540,027 shares of the company's stock worth $10,174,000 after acquiring an additional 69,424 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Pacira BioSciences by 16.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 502,204 shares of the company's stock worth $9,462,000 after purchasing an additional 70,307 shares in the last quarter. Hedge funds and other institutional investors own 99.73% of the company's stock.

Pacira BioSciences Trading Down 6.7%

Pacira BioSciences stock traded down $1.69 during mid-day trading on Tuesday, hitting $23.40. The company's stock had a trading volume of 1,459,879 shares, compared to its average volume of 967,825. The company has a 50 day moving average of $24.77 and a 200-day moving average of $22.22. The stock has a market cap of $1.08 billion, a PE ratio of -11.53 and a beta of 0.56. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.25. Pacira BioSciences, Inc. has a one year low of $11.16 and a one year high of $31.67.

Analyst Ratings Changes

Several research analysts have recently issued reports on PCRX shares. Needham & Company LLC dropped their target price on shares of Pacira BioSciences from $32.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $18.00 price objective on shares of Pacira BioSciences in a research report on Tuesday, January 14th. Truist Financial raised Pacira BioSciences from a "sell" rating to a "hold" rating and upped their price target for the company from $8.00 to $25.00 in a report on Thursday, January 30th. Barclays upped their price target on Pacira BioSciences from $17.00 to $24.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Finally, HC Wainwright upped their target price on shares of Pacira BioSciences from $48.00 to $65.00 and gave the company a "buy" rating in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Pacira BioSciences currently has an average rating of "Hold" and an average price target of $26.44.

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.