Man Group plc Acquires Shares of 125,370 Pacira BioSciences, Inc. $PCRX

Man Group plc bought a new stake in Pacira BioSciences, Inc. (NASDAQ:PCRX) during the 2nd quarter, HoldingsChannel reports. The firm bought 125,370 shares of the company’s stock, valued at approximately $3,181,000.

A number of other institutional investors and hedge funds have also modified their holdings of PCRX. Northwestern Mutual Wealth Management Co. raised its position in shares of Pacira BioSciences by 5,900.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,500 shares of the company’s stock worth $39,000 after purchasing an additional 1,475 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in Pacira BioSciences in the 4th quarter worth about $48,000. Eurizon Capital SGR S.p.A. purchased a new stake in Pacira BioSciences during the 4th quarter worth approximately $51,000. Global Retirement Partners LLC purchased a new stake in Pacira BioSciences during the 2nd quarter worth approximately $51,000. Finally, Meeder Asset Management Inc. purchased a new stake in Pacira BioSciences during the 1st quarter worth approximately $46,000. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Stock Up 0.5%

PCRX stock opened at $25.90 on Tuesday. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 74.00 and a beta of 0.27. The company has a current ratio of 5.04, a quick ratio of 3.94 and a debt-to-equity ratio of 0.54. Pacira BioSciences, Inc. has a 12 month low of $18.80 and a 12 month high of $27.66. The firm has a 50-day moving average of $25.25 and a two-hundred day moving average of $23.88.

Pacira BioSciences (NASDAQ:PCRX) last released its earnings results on Tuesday, August 4th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.08. The business had revenue of $192.40 million for the quarter, compared to analyst estimates of $191.06 million. Pacira BioSciences had a net margin of 1.96% and a return on equity of 9.68%. The business’s revenue was up 6.2% on a year-over-year basis. During the same period last year, the company posted $0.74 EPS. As a group, analysts forecast that Pacira BioSciences, Inc. will post 1.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Needham & Company LLC raised their target price on Pacira BioSciences from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Royal Bank Of Canada boosted their price target on Pacira BioSciences from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 5th. Truist Financial assumed coverage on Pacira BioSciences in a research note on Monday, August 17th. They issued a “buy” rating and a $30.00 price objective for the company. Wall Street Zen lowered Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 16th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $38.00 target price on shares of Pacira BioSciences in a research note on Wednesday, July 1st. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Pacira BioSciences presently has an average rating of “Hold” and an average target price of $30.20.

Insider Activity at Pacira BioSciences

In related news, insider Jonathan Slonin sold 3,040 shares of Pacira BioSciences stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $23.23, for a total transaction of $70,619.20. Following the transaction, the insider owned 216,384 shares in the company, valued at approximately $5,026,600.32. This trade represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Lauren Riker sold 6,115 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $23.50, for a total value of $143,702.50. Following the transaction, the senior vice president directly owned 62,284 shares in the company, valued at $1,463,674. This trade represents a 8.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.40% of the stock is currently owned by company insiders.

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.