Pacira BioSciences, Inc. (NASDAQ:PCRX) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC lessened its position in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 66.3% in the 4th quarter, Holdings Channel reports. The fund owned 186,952 shares of the company’s stock after selling 367,435 shares during the period. Cubist Systematic Strategies LLC’s holdings in Pacira BioSciences were worth $3,522,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Balyasny Asset Management L.P. purchased a new position in Pacira BioSciences during the fourth quarter worth about $8,180,000. Ameriprise Financial Inc. lifted its holdings in shares of Pacira BioSciences by 150.1% in the 4th quarter. Ameriprise Financial Inc. now owns 324,261 shares of the company’s stock valued at $6,109,000 after buying an additional 194,597 shares during the period. ExodusPoint Capital Management LP boosted its stake in shares of Pacira BioSciences by 232.6% in the fourth quarter. ExodusPoint Capital Management LP now owns 212,824 shares of the company’s stock valued at $4,010,000 after buying an additional 148,842 shares in the last quarter. Northern Trust Corp raised its position in Pacira BioSciences by 30.8% in the fourth quarter. Northern Trust Corp now owns 616,891 shares of the company’s stock worth $11,622,000 after acquiring an additional 145,205 shares in the last quarter. Finally, Norges Bank acquired a new stake in Pacira BioSciences in the fourth quarter valued at $2,405,000. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Stock Performance

Shares of PCRX opened at $25.12 on Friday. Pacira BioSciences, Inc. has a 1 year low of $11.16 and a 1 year high of $31.67. The company’s 50 day simple moving average is $24.73 and its 200 day simple moving average is $22.10. The company has a market capitalization 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.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PCRX. Royal Bank of Canada reiterated a “sector perform” rating and issued a $18.00 price target on shares of Pacira BioSciences in a report on Tuesday, January 14th. Barclays boosted their price target on Pacira BioSciences from $17.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. HC Wainwright raised their price objective on Pacira BioSciences from $48.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, April 8th. Needham & Company LLC decreased their target price on Pacira BioSciences from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday. 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 report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Pacira BioSciences has an average rating of “Hold” and an average price target of $26.44.

About Pacira BioSciences

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.