Canada Pension Plan Investment Board Boosts Stock Position in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Canada Pension Plan Investment Board raised its position in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 417.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 45,000 shares of the company’s stock after buying an additional 36,300 shares during the quarter. Canada Pension Plan Investment Board owned about 0.10% of Pacira BioSciences worth $848,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. XTX Topco Ltd purchased a new position in Pacira BioSciences in the fourth quarter worth $523,000. Barclays PLC boosted its position in shares of Pacira BioSciences by 4.4% in the 4th quarter. Barclays PLC now owns 423,221 shares of the company’s stock worth $7,972,000 after purchasing an additional 17,744 shares in the last quarter. Sterling Capital Management LLC grew its stake in Pacira BioSciences by 779.4% during the 4th quarter. Sterling Capital Management LLC now owns 1,363 shares of the company’s stock worth $26,000 after buying an additional 1,208 shares during the last quarter. Capital Fund Management S.A. increased its position in Pacira BioSciences by 34.6% during the 4th quarter. Capital Fund Management S.A. now owns 175,225 shares of the company’s stock valued at $3,301,000 after buying an additional 45,016 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Pacira BioSciences in the fourth quarter valued at about $190,000. 99.73% of the stock is owned by hedge funds and other institutional investors.

Pacira BioSciences Stock Performance

Shares of PCRX stock opened at $26.00 on Friday. Pacira BioSciences, Inc. has a 52-week low of $11.16 and a 52-week high of $31.67. The company has a quick ratio of 1.89, a current ratio of 2.25 and a debt-to-equity ratio of 0.51. The stock has a market cap of $1.20 billion, a PE ratio of -12.81 and a beta of 0.71. The business has a 50-day simple moving average of $24.51 and a 200-day simple moving average of $21.38.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. HC Wainwright boosted their price target on Pacira BioSciences from $48.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, April 8th. Barclays boosted their target price 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $18.00 price target on shares of Pacira BioSciences in a report on Tuesday, January 14th. Needham & Company LLC reissued a “buy” rating and set a $32.00 price objective on shares of Pacira BioSciences in a report on Tuesday, April 8th. Finally, Truist Financial raised Pacira BioSciences from a “sell” rating to a “hold” rating and upped their target price for the company from $8.00 to $25.00 in a research report on Thursday, January 30th. 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 company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $26.67.

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.