Principal Financial Group Inc. Reduces Stock Holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Principal Financial Group Inc. cut its holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 3.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 247,427 shares of the company’s stock after selling 9,329 shares during the period. Principal Financial Group Inc.’s holdings in Pacira BioSciences were worth $3,724,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. nVerses Capital LLC lifted its holdings in shares of Pacira BioSciences by 800.0% in the second quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock valued at $51,000 after purchasing an additional 1,600 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Pacira BioSciences during the 2nd quarter worth approximately $113,000. Canada Pension Plan Investment Board purchased a new stake in Pacira BioSciences in the 2nd quarter valued at approximately $140,000. Virtus Investment Advisers Inc. acquired a new stake in Pacira BioSciences during the 3rd quarter valued at $98,000. Finally, CWM LLC increased its position in Pacira BioSciences by 713.6% during the third quarter. CWM LLC now owns 6,517 shares of the company’s stock worth $98,000 after buying an additional 5,716 shares in the last quarter. 99.73% of the stock is owned by institutional investors and hedge funds.

Pacira BioSciences Stock Performance

Shares of NASDAQ:PCRX opened at $18.33 on Friday. The business has a 50-day moving average of $18.03 and a two-hundred day moving average of $18.13. The firm has a market capitalization of $846.35 million, a PE ratio of -9.03 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, Inc. has a 12 month low of $11.16 and a 12 month high of $35.95.

Analyst Ratings Changes

PCRX has been the topic of a number of analyst reports. Royal Bank of Canada increased their price objective on Pacira BioSciences from $15.00 to $16.00 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. HC Wainwright reaffirmed a “buy” rating and set a $39.00 price target on shares of Pacira BioSciences in a research note on Wednesday, December 4th. Jefferies Financial Group boosted their price objective on shares of Pacira BioSciences from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Needham & Company LLC restated a “buy” rating and set a $22.00 target price on shares of Pacira BioSciences in a research report on Friday, November 8th. Finally, Barclays cut their price target on Pacira BioSciences from $25.00 to $17.00 and set an “equal weight” rating for the company in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $23.50.

About Pacira BioSciences

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.