Comerica Bank Sells 37,055 Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX)

Comerica Bank lowered its holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 69.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,134 shares of the company's stock after selling 37,055 shares during the period. Comerica Bank's holdings in Pacira BioSciences were worth $304,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sterling Capital Management LLC raised its holdings in shares of Pacira BioSciences by 779.4% in the 4th quarter. Sterling Capital Management LLC now owns 1,363 shares of the company's stock valued at $26,000 after acquiring an additional 1,208 shares in the last quarter. Caitlin John LLC raised its holdings in shares of Pacira BioSciences by 1,850.0% in the 4th quarter. Caitlin John LLC now owns 1,872 shares of the company's stock valued at $35,000 after acquiring an additional 1,776 shares in the last quarter. Nisa Investment Advisors LLC raised 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 valued at $62,000 after acquiring an additional 2,749 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings 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 acquiring an additional 513 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of Pacira BioSciences by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,790 shares of the company's stock valued at $184,000 after acquiring an additional 918 shares in the last quarter. Hedge funds and other institutional investors own 99.73% of the company's stock.

Pacira BioSciences Trading Down 0.3%

PCRX traded down $0.07 on Thursday, hitting $26.07. 616,356 shares of the company were exchanged, compared to its average volume of 972,136. The firm has a fifty day simple moving average of $25.17 and a two-hundred day simple moving average of $22.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.25. Pacira BioSciences, Inc. has a 12 month low of $11.16 and a 12 month high of $31.64. The stock has a market capitalization of $1.21 billion, a PE ratio of -12.84 and a beta of 0.56.

Analyst Upgrades and Downgrades

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