Vanguard Group Inc. Trims Stock Position in Pacira BioSciences, Inc. $PCRX

Vanguard Group Inc. lessened its holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 3.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,197,567 shares of the company’s stock after selling 208,397 shares during the period. Vanguard Group Inc. owned about 0.12% of Pacira BioSciences worth $133,941,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in PCRX. Balyasny Asset Management L.P. boosted its stake in shares of Pacira BioSciences by 36.1% during the 2nd quarter. Balyasny Asset Management L.P. now owns 2,130,733 shares of the company’s stock worth $50,925,000 after acquiring an additional 565,288 shares during the last quarter. American Century Companies Inc. raised its holdings in Pacira BioSciences by 77.2% in the 2nd quarter. American Century Companies Inc. now owns 1,182,513 shares of the company’s stock worth $28,262,000 after purchasing an additional 515,090 shares during the period. Geode Capital Management LLC lifted its position in Pacira BioSciences by 0.5% during the second quarter. Geode Capital Management LLC now owns 1,143,190 shares of the company’s stock valued at $27,326,000 after purchasing an additional 5,658 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Pacira BioSciences by 49.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company’s stock valued at $27,454,000 after purchasing an additional 367,869 shares in the last quarter. Finally, Impax Asset Management Group plc grew its holdings in Pacira BioSciences by 27.7% during the third quarter. Impax Asset Management Group plc now owns 600,027 shares of the company’s stock valued at $15,463,000 after purchasing an additional 130,000 shares during the period. 99.73% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Pacira BioSciences news, SVP Lauren Riker sold 4,000 shares of Pacira BioSciences stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $20.81, for a total transaction of $83,240.00. Following the completion of the transaction, the senior vice president directly owned 52,313 shares of the company’s stock, valued at $1,088,633.53. The trade was a 7.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Shawn Cross sold 9,104 shares of the stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $25.14, for a total transaction of $228,874.56. Following the completion of the sale, the chief financial officer directly owned 56,250 shares in the company, valued at approximately $1,414,125. This represents a 13.93% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 30,416 shares of company stock valued at $744,315. 6.40% of the stock is owned by corporate insiders.

Pacira BioSciences Stock Up 3.9%

Shares of PCRX stock opened at $22.10 on Wednesday. The stock has a market cap of $894.83 million, a P/E ratio of 147.33 and a beta of 0.21. The company’s fifty day simple moving average is $22.49 and its two-hundred day simple moving average is $23.79. The company has a quick ratio of 3.28, a current ratio of 4.54 and a debt-to-equity ratio of 0.54. Pacira BioSciences, Inc. has a 52 week low of $18.80 and a 52 week high of $27.64.

Pacira BioSciences (NASDAQ:PCRX) last issued its earnings results on Thursday, February 26th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.28). Pacira BioSciences had a return on equity of 10.39% and a net margin of 0.97%.The firm had revenue of $196.87 million during the quarter, compared to the consensus estimate of $201.93 million. During the same period last year, the firm posted $0.91 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. Analysts predict that Pacira BioSciences, Inc. will post 2.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PCRX shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Pacira BioSciences in a research note on Monday, December 29th. Needham & Company LLC restated a “buy” rating and set a $30.00 target price on shares of Pacira BioSciences in a research note on Friday, January 9th. Wall Street Zen downgraded shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Saturday. Barclays initiated coverage on shares of Pacira BioSciences in a research report on Tuesday, December 9th. They set an “equal weight” rating and a $27.00 price objective on the stock. Finally, Truist Financial cut their price target on Pacira BioSciences from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $30.75.

Pacira BioSciences Profile

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid, non-addictive pain management and regenerative health solutions. The company’s flagship product, EXPAREL, is a bupivacaine liposome injectable suspension designed to provide long-lasting postsurgical analgesia. EXPAREL is used by clinicians across a broad range of surgical procedures to reduce reliance on opioid medications and to help manage acute postoperative pain.

In addition to its marketed offering, Pacira maintains an active pipeline of investigational products aimed at addressing unmet needs in pain management and inflammation control.