Comerica Bank Lowers Holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Comerica Bank reduced its position in shares of Pacira BioSciences, Inc. (NASDAQ:PCRXGet Rating) by 9.3% in the third quarter, Holdings Channel reports. The firm owned 35,460 shares of the company’s stock after selling 3,650 shares during the period. Comerica Bank’s holdings in Pacira BioSciences were worth $1,835,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Campbell Newman Asset Management Inc. increased its holdings in shares of Pacira BioSciences by 2.5% in the third quarter. Campbell Newman Asset Management Inc. now owns 33,002 shares of the company’s stock worth $1,755,000 after purchasing an additional 792 shares during the period. Keybank National Association OH increased its stake in Pacira BioSciences by 30.7% in the 3rd quarter. Keybank National Association OH now owns 8,197 shares of the company’s stock worth $436,000 after acquiring an additional 1,924 shares during the last quarter. Hancock Whitney Corp increased its stake in Pacira BioSciences by 17.2% in the 3rd quarter. Hancock Whitney Corp now owns 6,446 shares of the company’s stock worth $343,000 after acquiring an additional 944 shares during the last quarter. Peregrine Capital Management LLC increased its stake in Pacira BioSciences by 14.8% in the 3rd quarter. Peregrine Capital Management LLC now owns 150,462 shares of the company’s stock worth $8,003,000 after acquiring an additional 19,342 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust increased its stake in Pacira BioSciences by 33.3% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 403,114 shares of the company’s stock worth $21,442,000 after acquiring an additional 100,636 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PCRX shares. Jefferies Financial Group started coverage on shares of Pacira BioSciences in a research report on Friday, October 21st. They issued a “buy” rating and a $66.00 price objective on the stock. Cowen decreased their price target on shares of Pacira BioSciences from $54.00 to $50.00 in a report on Wednesday, December 14th. TheStreet cut Pacira BioSciences from a “b-” rating to a “c+” rating in a research note on Friday, October 28th. StockNews.com assumed coverage on Pacira BioSciences in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, HC Wainwright reduced their target price on Pacira BioSciences from $83.00 to $76.00 and set a “buy” rating on the stock in a research note on Friday, November 4th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.50.

Pacira BioSciences Stock Down 4.1 %

Shares of NASDAQ:PCRX opened at $35.53 on Friday. The stock’s 50-day moving average price is $42.55 and its 200-day moving average price is $50.49. Pacira BioSciences, Inc. has a 12-month low of $35.46 and a 12-month high of $82.16. The stock has a market capitalization of $1.63 billion, a P/E ratio of 86.66 and a beta of 0.76. The company has a current ratio of 4.06, a quick ratio of 3.32 and a debt-to-equity ratio of 0.93.

Pacira BioSciences (NASDAQ:PCRXGet Rating) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.02. Pacira BioSciences had a return on equity of 12.34% and a net margin of 3.19%. The business had revenue of $167.47 million for the quarter, compared to analyst estimates of $167.30 million. On average, equities analysts anticipate that Pacira BioSciences, Inc. will post 2.03 earnings per share for the current year.

About Pacira BioSciences

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Pacira BioSciences, Inc provides non-opioid pain management and regenerative health solutions for healthcare practitioners and their patients 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 only to targeted nerves.

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Institutional Ownership by Quarter for Pacira BioSciences (NASDAQ:PCRX)

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