Prudential Financial Inc. Reduces Holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Prudential Financial Inc. reduced its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 42.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 254,168 shares of the company’s stock after selling 190,286 shares during the quarter. Prudential Financial Inc. owned about 0.55% of Pacira BioSciences worth $4,789,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Caitlin John LLC increased its position 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 purchasing an additional 1,776 shares in the last quarter. Nisa Investment Advisors LLC grew its stake 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 buying an additional 2,749 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Pacira BioSciences by 16.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,597 shares of the company’s stock worth $68,000 after buying an additional 513 shares during the period. Virtus Investment Advisers Inc. purchased a new stake in Pacira BioSciences in the third quarter valued at approximately $98,000. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in shares of Pacira BioSciences by 10.3% in the fourth 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 during the period. 99.73% of the stock is owned by hedge funds and other institutional investors.

Pacira BioSciences Stock Down 0.2 %

Pacira BioSciences stock opened at $24.85 on Tuesday. The stock’s 50 day moving average price is $24.81 and its 200 day moving average price is $20.09. The company has a market cap of $1.15 billion, a PE ratio of -12.24 and a beta of 0.86. 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, Inc. has a 1-year low of $11.16 and a 1-year high of $31.67.

Analyst Upgrades and Downgrades

PCRX has been the subject of a number of recent research reports. HC Wainwright increased their price target on shares of Pacira BioSciences from $57.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Truist Financial upgraded shares of Pacira BioSciences from a “sell” rating to a “hold” rating and increased their target price for the stock from $8.00 to $25.00 in a research note on Thursday, January 30th. Royal Bank of Canada restated a “sector perform” rating and issued a $18.00 price target on shares of Pacira BioSciences in a research report on Tuesday, January 14th. Barclays increased their price objective on Pacira BioSciences from $17.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Finally, Needham & Company LLC boosted their target price on Pacira BioSciences from $30.00 to $32.00 and gave the company a “buy” rating in a report on Friday, February 28th. 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 MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $27.22.

Pacira BioSciences Company 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.