Graham Capital Management L.P. Sells 61,645 Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX)

Graham Capital Management L.P. lowered its holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 83.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,268 shares of the company's stock after selling 61,645 shares during the quarter. Graham Capital Management L.P.'s holdings in Pacira BioSciences were worth $231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of PCRX. Balyasny Asset Management L.P. purchased a new position in shares of Pacira BioSciences in the fourth quarter worth $8,180,000. Ameriprise Financial Inc. raised its stake in shares of Pacira BioSciences by 150.1% in the fourth quarter. Ameriprise Financial Inc. now owns 324,261 shares of the company's stock worth $6,109,000 after purchasing an additional 194,597 shares during the last quarter. ExodusPoint Capital Management LP raised its stake in shares of Pacira BioSciences by 232.6% in the fourth quarter. ExodusPoint Capital Management LP now owns 212,824 shares of the company's stock worth $4,010,000 after purchasing an additional 148,842 shares during the last quarter. Northern Trust Corp increased its position in Pacira BioSciences by 30.8% during the fourth quarter. Northern Trust Corp now owns 616,891 shares of the company's stock valued at $11,622,000 after acquiring an additional 145,205 shares during the last quarter. Finally, Norges Bank purchased a new stake in Pacira BioSciences during the fourth quarter valued at $2,405,000. Hedge funds and other institutional investors own 99.73% of the company's stock.

Pacira BioSciences Stock Performance

Shares of PCRX opened at $25.86 on Monday. The company has a quick ratio of 1.89, a current ratio of 2.25 and a debt-to-equity ratio of 0.51. The business has a 50-day simple moving average of $24.88 and a two-hundred day simple moving average of $22.44. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -12.74 and a beta of 0.56. Pacira BioSciences, Inc. has a 52 week low of $11.16 and a 52 week high of $31.64.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PCRX shares. Needham & Company LLC reduced their price objective on Pacira BioSciences from $32.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, May 9th. HC Wainwright upped their price objective on Pacira BioSciences from $48.00 to $65.00 and gave the company a "buy" rating in a research report on Tuesday, April 8th. Barclays upped their price objective on Pacira BioSciences from $17.00 to $24.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Finally, Truist Financial upgraded Pacira BioSciences from a "sell" rating to a "hold" rating and upped their price objective for the company from $8.00 to $25.00 in a research report on Thursday, January 30th. One analyst has 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. According to MarketBeat.com, Pacira BioSciences has a consensus rating of "Hold" and an average target price of $26.44.

Pacira BioSciences Company 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.

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