Los Angeles Capital Management LLC Sells 69,843 Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX)

Los Angeles Capital Management LLC trimmed its position in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 47.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,087 shares of the company’s stock after selling 69,843 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Pacira BioSciences were worth $1,433,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. China Universal Asset Management Co. Ltd. raised its holdings in shares of Pacira BioSciences by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,790 shares of the company’s stock worth $184,000 after acquiring an additional 918 shares during the period. Caitlin John LLC raised its holdings in shares of Pacira BioSciences by 1,850.0% during the fourth quarter. Caitlin John LLC now owns 1,872 shares of the company’s stock worth $35,000 after acquiring an additional 1,776 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of Pacira BioSciences by 495.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company’s stock worth $62,000 after acquiring an additional 2,749 shares during the period. Quest Partners LLC raised its holdings in shares of Pacira BioSciences by 137.6% during the third quarter. Quest Partners LLC now owns 9,410 shares of the company’s stock worth $142,000 after acquiring an additional 5,449 shares during the period. Finally, Virtus Investment Advisers Inc. acquired a new stake in shares of Pacira BioSciences during the third quarter worth $98,000. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PCRX. Royal Bank of Canada restated a “sector perform” rating and set a $18.00 price objective on shares of Pacira BioSciences in a report on Tuesday, January 14th. Barclays raised their price objective on shares of Pacira BioSciences from $17.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday. HC Wainwright lifted their price target on shares of Pacira BioSciences from $57.00 to $70.00 and gave the company a “buy” rating in a research note on Friday. Truist Financial upgraded shares of Pacira BioSciences from a “sell” rating to a “hold” rating and lifted their price target for the company from $8.00 to $25.00 in a research note on Thursday, January 30th. Finally, Needham & Company LLC lifted their price target on shares of Pacira BioSciences from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $27.22.

Pacira BioSciences Stock Performance

Shares of PCRX opened at $24.05 on Friday. The firm has a 50-day moving average of $23.16 and a 200-day moving average of $18.58. Pacira BioSciences, Inc. has a one year low of $11.16 and a one year high of $31.67. The company has a market cap of $1.11 billion, a PE ratio of -11.85 and a beta of 0.80. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.25 and a quick ratio of 1.89.

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.