Pacira BioSciences, Inc. $PCRX Shares Sold by Simplify Asset Management Inc.

Simplify Asset Management Inc. lowered its holdings in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 27.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,653 shares of the company’s stock after selling 23,608 shares during the period. Simplify Asset Management Inc.’s holdings in Pacira BioSciences were worth $1,416,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Pacira BioSciences by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,242 shares of the company’s stock worth $677,000 after purchasing an additional 1,165 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of 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. Strs Ohio acquired a new stake in Pacira BioSciences in the first quarter worth about $75,000. Marshall Wace LLP acquired a new stake in Pacira BioSciences in the second quarter worth about $4,550,000. Finally, Sei Investments Co. lifted its holdings in Pacira BioSciences by 35.3% in the second quarter. Sei Investments Co. now owns 25,357 shares of the company’s stock worth $606,000 after purchasing an additional 6,609 shares during the period. Institutional investors and hedge funds own 99.73% of the company’s stock.

Pacira BioSciences Price Performance

Shares of NASDAQ PCRX opened at $25.39 on Friday. Pacira BioSciences, Inc. has a twelve month low of $18.80 and a twelve month high of $27.64. The company has a current ratio of 4.73, a quick ratio of 3.35 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average of $23.65 and a two-hundred day moving average of $23.24. The company has a market capitalization of $999.10 million, a price-to-earnings ratio of 211.60 and a beta of 0.27.

Pacira BioSciences (NASDAQ:PCRX) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.01). Pacira BioSciences had a return on equity of 10.24% and a net margin of 0.70%.The business had revenue of $177.38 million during the quarter, compared to analyst estimates of $171.80 million. During the same period in the prior year, the firm earned $0.65 EPS. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, analysts expect that Pacira BioSciences, Inc. will post 1.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on PCRX shares. Royal Bank Of Canada boosted their price target on shares of Pacira BioSciences from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Zacks Research upgraded shares of Pacira BioSciences from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Barclays decreased their price objective on shares of Pacira BioSciences from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Thursday, March 26th. Needham & Company LLC raised their price objective on shares of Pacira BioSciences from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Finally, Weiss Ratings raised Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Three 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $29.40.

Insider Buying and Selling

In related news, SVP Lauren Riker sold 6,115 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $23.50, for a total transaction of $143,702.50. Following the completion of the sale, the senior vice president directly owned 62,284 shares in the company, valued at approximately $1,463,674. This trade represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Shawn Cross sold 12,941 shares of Pacira BioSciences stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $25.16, for a total transaction of $325,595.56. Following the completion of the transaction, the chief financial officer owned 105,341 shares in the company, valued at approximately $2,650,379.56. This trade represents a 10.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 31,115 shares of company stock valued at $771,896 over the last 90 days. 6.40% of the stock is currently 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.