Victory Capital Management Inc. Reduces Holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Victory Capital Management Inc. trimmed its holdings in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 22.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 94,750 shares of the company’s stock after selling 27,478 shares during the quarter. Victory Capital Management Inc.’s holdings in Pacira BioSciences were worth $1,785,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Janney Montgomery Scott LLC purchased a new position in shares of Pacira BioSciences during the 3rd quarter worth $793,000. Entropy Technologies LP bought a new position in Pacira BioSciences in the 3rd quarter worth $207,000. Empowered Funds LLC purchased a new position in Pacira BioSciences during the third quarter valued at $3,286,000. Quest Partners LLC lifted its position in Pacira BioSciences by 137.6% during the third quarter. Quest Partners LLC now owns 9,410 shares of the company’s stock valued at $142,000 after purchasing an additional 5,449 shares in the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in shares of Pacira BioSciences in the third quarter worth about $483,000. 99.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PCRX shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $18.00 price objective on shares of Pacira BioSciences in a research note on Tuesday, January 14th. HC Wainwright upped their price target on shares of Pacira BioSciences from $57.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Needham & Company LLC increased their price objective on shares of Pacira BioSciences from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Barclays lifted their target price on shares of Pacira BioSciences from $17.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Finally, Truist Financial raised shares of Pacira BioSciences from a “sell” rating to a “hold” rating and upped their target price for the stock from $8.00 to $25.00 in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $27.22.

Pacira BioSciences Stock Performance

PCRX opened at $23.31 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.25. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -11.48 and a beta of 0.86. The company has a fifty day moving average of $24.05 and a 200 day moving average of $19.37. Pacira BioSciences, Inc. has a fifty-two week low of $11.16 and a fifty-two week high of $31.67.

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.