Point72 Asset Management L.P. Invests $20.27 Million in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Point72 Asset Management L.P. acquired a new position in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,075,673 shares of the company's stock, valued at approximately $20,266,000. Point72 Asset Management L.P. owned 2.33% of Pacira BioSciences as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Sterling Capital Management LLC increased its holdings in shares of Pacira BioSciences by 779.4% in the fourth quarter. Sterling Capital Management LLC now owns 1,363 shares of the company's stock valued at $26,000 after purchasing an additional 1,208 shares in the last quarter. Ancora Advisors LLC acquired a new stake in Pacira BioSciences in the fourth quarter valued at $26,000. Caitlin John LLC boosted its stake in shares of Pacira BioSciences by 1,850.0% during the 4th quarter. Caitlin John LLC now owns 1,872 shares of the company's stock worth $35,000 after acquiring an additional 1,776 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Pacira BioSciences by 495.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company's stock worth $62,000 after buying an additional 2,749 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in Pacira BioSciences by 16.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,597 shares of the company's stock valued at $68,000 after buying an additional 513 shares in the last quarter. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Pacira BioSciences Stock Down 2.3%

Shares of PCRX traded down $0.61 during midday trading on Wednesday, hitting $26.14. 776,958 shares of the company's stock traded hands, compared to its average volume of 971,484. The company has a current ratio of 2.25, a quick ratio of 1.89 and a debt-to-equity ratio of 0.51. Pacira BioSciences, Inc. has a 1 year low of $11.16 and a 1 year high of $31.64. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -12.88 and a beta of 0.56. The firm's fifty day moving average is $25.04 and its 200-day moving average is $22.54.

Wall Street Analysts Forecast Growth

PCRX has been the topic of several research analyst reports. HC Wainwright raised their price objective on Pacira BioSciences from $48.00 to $65.00 and gave the company a "buy" rating in a research note on Tuesday, April 8th. Needham & Company LLC lowered their target price on shares of Pacira BioSciences from $32.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Truist Financial upgraded Pacira BioSciences from a "sell" rating to a "hold" rating and lifted their target price for the stock from $8.00 to $25.00 in a research note on Thursday, January 30th. Finally, Barclays raised their price target on Pacira BioSciences from $17.00 to $24.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Pacira BioSciences has an average rating of "Hold" and a consensus target price 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.