Louisiana State Employees Retirement System Cuts Stock Holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Louisiana State Employees Retirement System lowered its stake in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 4.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,300 shares of the company’s stock after selling 1,100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Pacira BioSciences were worth $336,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. GAMMA Investing LLC grew its holdings in shares of Pacira BioSciences by 229.6% in the second quarter. GAMMA Investing LLC now owns 1,338 shares of the company’s stock valued at $38,000 after purchasing an additional 932 shares in the last quarter. Park Place Capital Corp purchased a new position in shares of Pacira BioSciences in the 2nd quarter worth $46,000. Innealta Capital LLC bought a new stake in shares of Pacira BioSciences in the 2nd quarter worth about $50,000. nVerses Capital LLC raised its position in shares of Pacira BioSciences by 800.0% during the 2nd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock valued at $51,000 after buying an additional 1,600 shares in the last quarter. Finally, Natixis purchased a new stake in shares of Pacira BioSciences during the 1st quarter valued at about $95,000. Institutional investors own 99.73% of the company’s stock.

Insider Transactions at Pacira BioSciences

In other news, CEO Frank D. Lee purchased 8,264 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of $12.10 per share, for a total transaction of $99,994.40. Following the completion of the acquisition, the chief executive officer now owns 107,784 shares of the company’s stock, valued at approximately $1,304,186.40. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last three months, insiders have purchased 11,176 shares of company stock valued at $136,240. 6.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PCRX. HC Wainwright reduced their price objective on Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Royal Bank of Canada raised their price target on Pacira BioSciences from $14.00 to $15.00 and gave the stock a “sector perform” rating in a research report on Friday, October 4th. Truist Financial cut shares of Pacira BioSciences from a “buy” rating to a “sell” rating and cut their price objective for the company from $30.00 to $8.00 in a research report on Tuesday, August 13th. Needham & Company LLC reduced their target price on shares of Pacira BioSciences from $43.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, Jefferies Financial Group lifted their price target on shares of Pacira BioSciences from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $24.20.

Pacira BioSciences Trading Up 2.3 %

Shares of PCRX opened at $17.67 on Thursday. The firm has a market capitalization of $815.12 million, a price-to-earnings ratio of 13.49 and a beta of 0.82. The company has a debt-to-equity ratio of 0.67, a current ratio of 6.82 and a quick ratio of 5.70. Pacira BioSciences, Inc. has a 1-year low of $11.16 and a 1-year high of $35.95. The company has a 50-day moving average of $15.54 and a 200 day moving average of $21.09.

About Pacira BioSciences

Pacira BioSciences, Inc engages in the development, manufacture, marketing, distribution, and sale of non-opioid pain management and regenerative health solutions to healthcare practitioners in the United States. The company offers EXPAREL, a bupivacaine liposome injectable suspension; ZILRETTA, a triamcinolone acetonide extended-release injectable suspension; and iovera system, a non-opioid handheld cryoanalgesia device used to produce controlled doses of cold temperature to targeted nerves.