Easterly Investment Partners LLC Cuts Stock Holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Easterly Investment Partners LLC cut its stake in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 21.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 105,651 shares of the company’s stock after selling 28,833 shares during the quarter. Easterly Investment Partners LLC owned about 0.23% of Pacira BioSciences worth $1,990,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PCRX. BNP Paribas Financial Markets boosted its holdings in Pacira BioSciences by 269.7% in the third quarter. BNP Paribas Financial Markets now owns 395,695 shares of the company’s stock valued at $5,955,000 after purchasing an additional 288,662 shares during the last quarter. PDT Partners LLC purchased a new stake in shares of Pacira BioSciences in the third quarter worth about $3,469,000. State Street Corp raised its position in Pacira BioSciences by 5.8% during the third quarter. State Street Corp now owns 2,014,012 shares of the company’s stock valued at $30,311,000 after acquiring an additional 110,162 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Pacira BioSciences in the third quarter valued at approximately $1,212,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Pacira BioSciences by 16.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 502,204 shares of the company’s stock worth $9,462,000 after purchasing an additional 70,307 shares during the period. 99.73% of the stock is currently owned by hedge funds and other institutional investors.

Pacira BioSciences Stock Performance

Shares of Pacira BioSciences stock opened at $24.42 on Thursday. The firm has a market capitalization of $1.13 billion, a P/E ratio of -12.03 and a beta of 0.86. The company has a quick ratio of 1.89, a current ratio of 2.25 and a debt-to-equity ratio of 0.51. Pacira BioSciences, Inc. has a 52 week low of $11.16 and a 52 week high of $31.67. The firm’s 50 day moving average is $24.65 and its two-hundred day moving average is $19.79.

Wall Street Analyst Weigh In

Several research firms recently commented on PCRX. Royal Bank of Canada restated a “sector perform” rating and set a $18.00 price target on shares of Pacira BioSciences in a research report on Tuesday, January 14th. Truist Financial raised Pacira BioSciences from a “sell” rating to a “hold” rating and upped their price target for the stock from $8.00 to $25.00 in a report on Thursday, January 30th. Needham & Company LLC boosted their price objective on Pacira BioSciences from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, February 28th. HC Wainwright lifted their price target on shares of Pacira BioSciences from $57.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, Barclays upped their price objective on shares of Pacira BioSciences from $17.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. One investment 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 MarketBeat.com, Pacira BioSciences currently has an average rating of “Hold” and a consensus target price of $27.22.

Pacira BioSciences Company 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.