Pacer Advisors Inc. Lowers Position in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Key Points

• Pacer Advisors Inc. significantly reduced its stake in Pacira BioSciences, selling 2,661,169 shares and lowering its holdings by 81.6%, now owning 601,668 shares valued at $14,951,000.
• Analyst ratings have provided mixed signals, with some firms raising their price targets while others lowered them; currently, the stock holds a consensus rating of "Moderate Buy" and a target price of $27.00.
• Pacira BioSciences' stock performance showed shares opening at $22.55, with a market cap of $1.04 billion, reflecting a 52-week range between $11.16 and $27.64.

Pacer Advisors Inc. lowered its position in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 81.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 601,668 shares of the company's stock after selling 2,661,169 shares during the quarter. Pacer Advisors Inc. owned about 1.30% of Pacira BioSciences worth $14,951,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in Pacira BioSciences in the 1st quarter valued at about $277,000. ProShare Advisors LLC increased its holdings in Pacira BioSciences by 30.2% in the fourth quarter. ProShare Advisors LLC now owns 16,003 shares of the company's stock worth $301,000 after buying an additional 3,710 shares during the last quarter. GAMMA Investing LLC increased its holdings in Pacira BioSciences by 112.8% in the first quarter. GAMMA Investing LLC now owns 3,694 shares of the company's stock worth $92,000 after buying an additional 1,958 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Pacira BioSciences by 3.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,077 shares of the company's stock worth $491,000 after buying an additional 794 shares during the last quarter. Finally, LPL Financial LLC acquired a new stake in shares of Pacira BioSciences in the fourth quarter worth $251,000. Institutional investors and hedge funds own 99.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PCRX shares. Wall Street Zen upgraded shares of Pacira BioSciences from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. HC Wainwright boosted their price objective 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 lowered their target price on Pacira BioSciences from $32.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Finally, Truist Financial raised Pacira BioSciences from a "hold" rating to a "buy" rating and set a $30.00 target price for the company in a research note on Friday, July 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $27.00.

Insider Buying and Selling at Pacira BioSciences

In other news, SVP Lauren Riker sold 5,578 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $26.21, for a total transaction of $146,199.38. Following the transaction, the senior vice president directly owned 59,564 shares of the company's stock, valued at $1,561,172.44. This represents a 8.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.40% of the stock is owned by insiders.

Pacira BioSciences Price Performance

Pacira BioSciences stock traded up $0.39 during midday trading on Wednesday, reaching $22.00. The company's stock had a trading volume of 76,701 shares, compared to its average volume of 790,617. The stock has a market cap of $1.02 billion, a PE ratio of -9.62 and a beta of 0.48. The company has a current ratio of 2.41, a quick ratio of 1.99 and a debt-to-equity ratio of 0.48. The business has a 50-day moving average price of $24.09 and a 200-day moving average price of $24.56. Pacira BioSciences, Inc. has a 52 week low of $11.16 and a 52 week high of $27.64.

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.