Pacira BioSciences, Inc. (NASDAQ:PCRX) Position Trimmed by Voya Investment Management LLC

Voya Investment Management LLC lowered its holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 68.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,948 shares of the company's stock after selling 29,901 shares during the period. Voya Investment Management LLC's holdings in Pacira BioSciences were worth $263,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PCRX. Charles Schwab Investment Management Inc. increased its stake in Pacira BioSciences by 16.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 502,204 shares of the company's stock worth $9,462,000 after acquiring an additional 70,307 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Pacira BioSciences by 495.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company's stock worth $62,000 after purchasing an additional 2,749 shares in the last quarter. Empowered Funds LLC increased its position in Pacira BioSciences by 5.1% during the 4th quarter. Empowered Funds LLC now owns 229,485 shares of the company's stock worth $4,323,000 after purchasing an additional 11,149 shares in the last quarter. Norges Bank purchased a new position in Pacira BioSciences in the fourth quarter valued at approximately $2,405,000. Finally, Gagnon Securities LLC lifted its position in Pacira BioSciences by 4.8% during the fourth quarter. Gagnon Securities LLC now owns 321,743 shares of the company's stock valued at $6,062,000 after buying an additional 14,800 shares in the last quarter. 99.73% of the stock is owned by institutional investors and hedge funds.

Pacira BioSciences Stock Up 1.0%

PCRX stock traded up $0.26 during midday trading on Friday, hitting $25.86. 1,145,487 shares of the company's stock were exchanged, compared to its average volume of 968,425. The firm has a 50 day moving average price of $24.83 and a 200-day moving average price of $22.31. Pacira BioSciences, Inc. has a 12-month low of $11.16 and a 12-month high of $31.67. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -12.74 and a beta of 0.56. The company has a current ratio of 2.25, a quick ratio of 1.89 and a debt-to-equity ratio of 0.51.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PCRX. Barclays upped their price target on shares of Pacira BioSciences from $17.00 to $24.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Truist Financial upgraded Pacira BioSciences from a "sell" rating to a "hold" rating and boosted their price objective for the stock from $8.00 to $25.00 in a research note on Thursday, January 30th. 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, HC Wainwright boosted their price target on Pacira BioSciences from $48.00 to $65.00 and gave the stock a "buy" rating in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Pacira BioSciences presently has a consensus rating of "Hold" and an average price target 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.