ExodusPoint Capital Management LP Grows Holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX)

ExodusPoint Capital Management LP raised its position in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 232.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 212,824 shares of the company’s stock after buying an additional 148,842 shares during the period. ExodusPoint Capital Management LP owned approximately 0.46% of Pacira BioSciences worth $4,010,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Pacira BioSciences in the fourth quarter valued at about $2,405,000. State Street Corp raised its position in shares of Pacira BioSciences by 5.8% in the 3rd quarter. State Street Corp now owns 2,014,012 shares of the company’s stock valued at $30,311,000 after purchasing an additional 110,162 shares in the last quarter. Charles Schwab Investment Management Inc. boosted 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 valued at $9,462,000 after buying an additional 70,307 shares during the last quarter. Impax Asset Management Group plc grew its position in shares of Pacira BioSciences by 14.8% during the fourth quarter. Impax Asset Management Group plc now owns 540,027 shares of the company’s stock worth $10,174,000 after buying an additional 69,424 shares in the last quarter. Finally, Wealthfront Advisers LLC bought a new stake in shares of Pacira BioSciences in the fourth quarter worth $1,001,000. 99.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Pacira BioSciences Trading Down 4.9 %

Shares of NASDAQ:PCRX opened at $23.10 on Monday. 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 company’s 50-day moving average price is $24.88 and its 200 day moving average price is $20.38. The company has a market cap of $1.07 billion, a PE ratio of -11.38 and a beta of 0.70. Pacira BioSciences, Inc. has a fifty-two week low of $11.16 and a fifty-two week high of $31.67.

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.