Quantbot Technologies LP Acquires New Position in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Quantbot Technologies LP acquired a new stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 17,104 shares of the company’s stock, valued at approximately $257,000.

A number of other hedge funds also recently made changes to their positions in PCRX. Pacer Advisors Inc. grew its stake in shares of Pacira BioSciences by 129.4% during the 3rd quarter. Pacer Advisors Inc. now owns 4,962,221 shares of the company’s stock valued at $74,681,000 after acquiring an additional 2,799,434 shares during the period. Fort Washington Investment Advisors Inc. OH bought a new position in shares of Pacira BioSciences during the 2nd quarter valued at approximately $13,240,000. Assenagon Asset Management S.A. grew its stake in shares of Pacira BioSciences by 314.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 553,114 shares of the company’s stock valued at $8,324,000 after acquiring an additional 419,656 shares during the period. Doma Perpetual Capital Management LLC grew its stake in shares of Pacira BioSciences by 71.8% during the 2nd quarter. Doma Perpetual Capital Management LLC now owns 1,000,761 shares of the company’s stock valued at $28,632,000 after acquiring an additional 418,321 shares during the period. Finally, Empowered Funds LLC bought a new position in shares of Pacira BioSciences during the 3rd quarter valued at approximately $3,286,000. 99.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PCRX has been the subject of several recent analyst reports. JPMorgan Chase & Co. restated an “underweight” rating and issued a $10.00 price target (down from $45.00) on shares of Pacira BioSciences in a research note on Monday, August 12th. StockNews.com downgraded Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Needham & Company LLC restated a “buy” rating and issued a $22.00 price target on shares of Pacira BioSciences in a research note on Friday, November 8th. Royal Bank of Canada upped their price target on Pacira BioSciences from $15.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 7th. Finally, Barclays dropped their price target on Pacira BioSciences from $25.00 to $17.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Pacira BioSciences presently has an average rating of “Hold” and a consensus target price of $23.50.

Pacira BioSciences Stock Performance

NASDAQ:PCRX opened at $19.09 on Thursday. The stock’s fifty day moving average is $16.68 and its 200 day moving average is $19.56. Pacira BioSciences, Inc. has a fifty-two week low of $11.16 and a fifty-two week high of $35.95. The firm has a market capitalization of $881.44 million, a PE ratio of -9.40 and a beta of 0.80. 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 Profile

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.