Balyasny Asset Management L.P. Acquires New Shares in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Balyasny Asset Management L.P. bought a new position in Pacira BioSciences, Inc. (NASDAQ:PCRX) during the 4th quarter, HoldingsChannel.com reports. The fund bought 434,206 shares of the company’s stock, valued at approximately $8,180,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Renaissance Technologies LLC increased its holdings in Pacira BioSciences by 0.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,992,601 shares of the company’s stock worth $37,541,000 after buying an additional 13,604 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Pacira BioSciences by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,091,970 shares of the company’s stock worth $20,578,000 after purchasing an additional 5,071 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Pacira BioSciences by 30.8% during the 4th quarter. Northern Trust Corp now owns 616,891 shares of the company’s stock valued at $11,622,000 after purchasing an additional 145,205 shares in the last quarter. Impax Asset Management Group plc lifted its stake in shares of Pacira BioSciences by 14.8% in the 4th quarter. Impax Asset Management Group plc now owns 540,027 shares of the company’s stock valued at $10,174,000 after purchasing an additional 69,424 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Pacira BioSciences by 16.3% in the fourth 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 in the last quarter. 99.73% of the stock is owned by hedge funds and other institutional investors.

Pacira BioSciences Stock Performance

NASDAQ:PCRX opened at $25.12 on Friday. The firm’s 50-day moving average is $24.73 and its 200-day moving average is $22.10. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -12.37 and a beta of 0.56. 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, Inc. has a 52-week low of $11.16 and a 52-week high of $31.67.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Barclays boosted 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. Truist Financial upgraded Pacira BioSciences from a “sell” rating to a “hold” rating and boosted their target price for the stock from $8.00 to $25.00 in a report on Thursday, January 30th. Needham & Company LLC lowered their price target on Pacira BioSciences from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Friday. HC Wainwright boosted their price objective on shares of Pacira BioSciences from $48.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, April 8th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $18.00 target price on shares of Pacira BioSciences in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $26.44.

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.