Segall Bryant & Hamill LLC Makes New Investment in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Segall Bryant & Hamill LLC purchased a new position in Pacira BioSciences, Inc. (NASDAQ:PCRX) during the third quarter, HoldingsChannel reports. The institutional investor purchased 32,061 shares of the company’s stock, valued at approximately $483,000.

A number of other hedge funds have also recently added to or reduced their stakes in PCRX. Pacer Advisors Inc. boosted its stake in Pacira BioSciences by 37.5% in the 2nd quarter. Pacer Advisors Inc. now owns 2,162,787 shares of the company’s stock worth $61,877,000 after buying an additional 590,082 shares during the last quarter. Fort Washington Investment Advisors Inc. OH acquired a new position in shares of Pacira BioSciences in the 2nd quarter valued at about $13,240,000. Assenagon Asset Management S.A. lifted its stake in shares of Pacira BioSciences by 314.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 553,114 shares of the company’s stock valued at $8,324,000 after purchasing an additional 419,656 shares in the last quarter. Doma Perpetual Capital Management LLC lifted its stake in shares of Pacira BioSciences by 71.8% in the 2nd quarter. Doma Perpetual Capital Management LLC now owns 1,000,761 shares of the company’s stock valued at $28,632,000 after purchasing an additional 418,321 shares in the last quarter. Finally, Empowered Funds LLC acquired a new position in shares of Pacira BioSciences in the 3rd quarter valued at about $3,286,000. 99.73% of the stock is owned by institutional investors and hedge funds.

Pacira BioSciences Price Performance

PCRX stock opened at $17.55 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. Pacira BioSciences, Inc. has a 52-week low of $11.16 and a 52-week high of $35.95. The stock’s 50 day moving average is $16.21 and its two-hundred day moving average is $20.30. The company has a market capitalization of $810.28 million, a PE ratio of -8.65 and a beta of 0.82.

Analysts Set New Price Targets

Several research firms have recently weighed in on PCRX. Piper Sandler lowered Pacira BioSciences from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $42.00 to $11.00 in a research note on Monday, August 12th. Truist Financial lowered Pacira BioSciences from a “buy” rating to a “sell” rating and reduced their price objective for the company from $30.00 to $8.00 in a research note on Tuesday, August 13th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $10.00 price objective (down from $45.00) on shares of Pacira BioSciences in a research note on Monday, August 12th. Raymond James downgraded Pacira BioSciences from an “outperform” rating to a “market perform” rating in a report on Monday, August 12th. Finally, Royal Bank of Canada raised their target price on Pacira BioSciences from $15.00 to $16.00 and gave the company a “sector perform” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $23.50.

Pacira BioSciences Company Profile

Pacira BioSciences, Inc engages in the development, manufacture, marketing, distribution, and sale of non-opioid pain management and regenerative health solutions to healthcare practitioners in the United States. The company offers EXPAREL, a bupivacaine liposome injectable suspension; ZILRETTA, a triamcinolone acetonide extended-release injectable suspension; and iovera system, a non-opioid handheld cryoanalgesia device used to produce controlled doses of cold temperature to targeted nerves.