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

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

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

Pacira BioSciences Trading Down 1.8%

Shares of PCRX stock traded down $0.48 during mid-day trading on Friday, reaching $25.59. The stock had a trading volume of 96,349 shares, compared to its average volume of 968,670. The firm has a market capitalization of $1.18 billion, a PE ratio of -12.60 and a beta of 0.56. The stock's 50-day moving average price is $25.17 and its two-hundred day moving average price is $22.63. 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 52-week low of $11.16 and a 52-week high of $31.64.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. HC Wainwright increased their target price on shares of Pacira BioSciences from $48.00 to $65.00 and gave the company a "buy" rating in a report on Tuesday, April 8th. Needham & Company LLC reduced their price objective on Pacira BioSciences from $32.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Barclays lifted their price objective on Pacira BioSciences from $17.00 to $24.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Finally, Truist Financial upgraded Pacira BioSciences from a "sell" rating to a "hold" rating and increased their target price for the company from $8.00 to $25.00 in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $26.44.

About Pacira BioSciences

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.