Algert Global LLC Reduces Stake in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Algert Global LLC lowered its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 54.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,625 shares of the company's stock after selling 32,223 shares during the quarter. Algert Global LLC owned about 0.06% of Pacira BioSciences worth $502,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PCRX. ExodusPoint Capital Management LP increased its position in Pacira BioSciences by 232.6% during the fourth quarter. ExodusPoint Capital Management LP now owns 212,824 shares of the company's stock worth $4,010,000 after acquiring an additional 148,842 shares during the period. 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 worth $11,622,000 after acquiring an additional 145,205 shares during the period. Norges Bank bought a new position in Pacira BioSciences during the fourth quarter worth $2,405,000. Natixis bought a new position in Pacira BioSciences during the fourth quarter worth $1,738,000. Finally, AXA S.A. bought a new position in Pacira BioSciences during the fourth quarter worth $1,686,000. Institutional investors own 99.73% of the company's stock.

Pacira BioSciences Stock Up 1.9%

Shares of NASDAQ PCRX traded up $0.48 during trading hours on Friday, hitting $26.08. The company had a trading volume of 194,754 shares, compared to its average volume of 964,731. The stock has a market capitalization of $1.21 billion, a P/E ratio of -12.87 and a beta of 0.56. The company has a quick ratio of 1.89, a current ratio of 2.25 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 $31.67. The firm's 50 day moving average is $24.83 and its 200-day moving average is $22.31.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PCRX. Needham & Company LLC lowered their price target 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. HC Wainwright boosted their price target 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. Barclays boosted their price target on shares of Pacira BioSciences from $17.00 to $24.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Finally, Truist Financial raised shares of Pacira BioSciences from a "sell" rating to a "hold" rating and boosted their price target for the company from $8.00 to $25.00 in a report on Thursday, January 30th. One equities research 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. Based on data from MarketBeat.com, the company currently 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.