Comerica Bank Sells 3,650 Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX)

Comerica Bank trimmed its holdings in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX – Get Rating) by 9.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,460 shares of the company’s stock after selling 3,650 shares during the period. Comerica Bank owned approximately 0.08% of Pacira BioSciences worth $1,835,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. First Horizon Advisors Inc. boosted its stake in Pacira BioSciences by 14,433.3% during the second quarter. First Horizon Advisors Inc. now owns 436 shares of the company’s stock worth $25,000 after acquiring an additional 433 shares in the last quarter. Neo Ivy Capital Management bought a new position in Pacira BioSciences during the second quarter worth $44,000. Heritage Wealth Management LLC bought a new position in shares of Pacira BioSciences during the 2nd quarter worth about $152,000. Quantbot Technologies LP bought a new position in shares of Pacira BioSciences during the 2nd quarter worth about $156,000. Finally, Dakota Wealth Management bought a new position in shares of Pacira BioSciences during the 2nd quarter worth about $202,000.

Pacira BioSciences Price Performance

Shares of NASDAQ:PCRX opened at $35.53 on Friday. The company has a current ratio of 4.06, a quick ratio of 3.32 and a debt-to-equity ratio of 0.93. The stock’s fifty day simple moving average is $42.55 and its two-hundred day simple moving average is $50.49. Pacira BioSciences, Inc. has a 1-year low of $35.46 and a 1-year high of $82.16. The stock has a market cap of $1.63 billion, a PE ratio of 86.66 and a beta of 0.76.

Pacira BioSciences (NASDAQ:PCRX – Get Rating) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. Pacira BioSciences had a net margin of 3.19% and a return on equity of 12.34%. The company had revenue of $167.47 million for the quarter, compared to analyst estimates of $167.30 million. As a group, analysts forecast that Pacira BioSciences, Inc. will post 2.03 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Needham & Company LLC cut their price target on Pacira BioSciences from $66.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, January 6th. Wedbush reiterated a “buy” rating and issued a $88.00 target price on shares of Pacira BioSciences in a report on Wednesday, December 21st. StockNews.com started coverage on Pacira BioSciences in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Cowen cut their target price on Pacira BioSciences from $54.00 to $50.00 in a report on Wednesday, December 14th. Finally, Cowen dropped their price objective on shares of Pacira BioSciences from $54.00 to $50.00 in a research note on Wednesday, December 14th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.50.

Pacira BioSciences Profile

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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.