Vanguard Group Inc. Trims Holdings in Pacira BioSciences, Inc. $PCRX

Vanguard Group Inc. trimmed its position in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 3.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,197,567 shares of the company’s stock after selling 208,397 shares during the quarter. Vanguard Group Inc. owned approximately 11.57% of Pacira BioSciences worth $133,941,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Public Sector Pension Investment Board increased its stake in Pacira BioSciences by 3.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 204,970 shares of the company’s stock worth $5,282,000 after acquiring an additional 6,303 shares during the last quarter. LSV Asset Management raised its stake in Pacira BioSciences by 20.1% in the third quarter. LSV Asset Management now owns 114,300 shares of the company’s stock valued at $2,946,000 after purchasing an additional 19,100 shares in the last quarter. Impax Asset Management Group plc lifted its position 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 last quarter. Hantz Financial Services Inc. grew its stake in Pacira BioSciences by 175.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,132 shares of the company’s stock worth $29,000 after buying an additional 721 shares in the last quarter. Finally, State of Wyoming increased its holdings in shares of Pacira BioSciences by 145.3% in the 3rd quarter. State of Wyoming now owns 10,427 shares of the company’s stock worth $269,000 after buying an additional 6,177 shares during the last quarter. 99.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on PCRX shares. Truist Financial dropped their target price on Pacira BioSciences from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Weiss Ratings reissued 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 issued a $30.00 price objective on shares of Pacira BioSciences in a report on Friday, January 9th. Barclays initiated coverage on shares of Pacira BioSciences in a report on Tuesday, December 9th. They set an “equal weight” rating and a $27.00 target price on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $38.00 price target on shares of Pacira BioSciences in a research note on Friday, January 9th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Pacira BioSciences currently has a consensus rating of “Hold” and a consensus target price of $30.75.

Pacira BioSciences Stock Up 3.9%

Shares of NASDAQ:PCRX opened at $22.10 on Wednesday. Pacira BioSciences, Inc. has a 52-week low of $18.80 and a 52-week high of $27.64. The firm has a market capitalization of $894.83 million, a P/E ratio of 147.33 and a beta of 0.21. The stock has a 50 day moving average price of $22.49 and a 200-day moving average price of $23.79. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.28 and a current ratio of 4.54.

Pacira BioSciences (NASDAQ:PCRX) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.57 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 business had revenue of $196.87 million for the quarter, compared to the consensus estimate of $201.93 million. During the same period in the previous year, the firm earned $0.91 EPS. The company’s revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts anticipate that Pacira BioSciences, Inc. will post 2.41 EPS for the current fiscal year.

Insider Activity

In related news, SVP Lauren Riker sold 4,000 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $20.81, for a total value of $83,240.00. Following the transaction, the senior vice president owned 52,313 shares in the company, valued at $1,088,633.53. The trade was a 7.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Shawn Cross sold 15,896 shares of Pacira BioSciences stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $25.03, for a total transaction of $397,876.88. Following the completion of the transaction, the chief financial officer directly owned 56,250 shares of the company’s stock, valued at $1,407,937.50. This trade represents a 22.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 30,416 shares of company stock valued at $744,315. 6.40% of the stock is owned by insiders.

About Pacira BioSciences

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.