Pacira BioSciences, Inc. (NASDAQ:PCRX) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 45.2% during the fourth quarter, Holdings Channel reports. The firm owned 44,137 shares of the company’s stock after selling 36,396 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Pacira BioSciences were worth $832,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wealthfront Advisers LLC acquired a new stake in shares of Pacira BioSciences during the 4th quarter worth approximately $1,001,000. AlphaQuest LLC raised its position in shares of Pacira BioSciences by 43.4% during the 4th quarter. AlphaQuest LLC now owns 13,493 shares of the company’s stock worth $254,000 after purchasing an additional 4,083 shares during the period. Amundi raised its position in shares of Pacira BioSciences by 200.8% during the 4th quarter. Amundi now owns 23,114 shares of the company’s stock worth $429,000 after purchasing an additional 15,431 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Pacira BioSciences by 16.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,597 shares of the company’s stock worth $68,000 after purchasing an additional 513 shares during the period. Finally, Banco Santander S.A. raised its position in shares of Pacira BioSciences by 5.8% during the 4th quarter. Banco Santander S.A. now owns 126,900 shares of the company’s stock worth $2,391,000 after purchasing an additional 6,900 shares during the period. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Pacira BioSciences Stock Up 1.3 %

Shares of PCRX stock opened at $24.14 on Friday. Pacira BioSciences, Inc. has a 1 year low of $11.16 and a 1 year high of $31.67. The stock has a market cap of $1.12 billion, a PE ratio of -11.89 and a beta of 0.86. The business’s fifty day moving average is $24.44 and its 200-day moving average is $19.55. 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 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.