Allspring Global Investments Holdings LLC Invests $277,000 in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Allspring Global Investments Holdings LLC purchased a new stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,488 shares of the company's stock, valued at approximately $277,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PCRX. Bank of New York Mellon Corp lifted its holdings in shares of Pacira BioSciences by 11.8% during the fourth quarter. Bank of New York Mellon Corp now owns 396,399 shares of the company's stock valued at $7,468,000 after purchasing an additional 41,881 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Pacira BioSciences by 16.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 502,204 shares of the company's stock valued at $9,462,000 after acquiring an additional 70,307 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Pacira BioSciences during the fourth quarter valued at $190,000. PNC Financial Services Group Inc. increased its position in Pacira BioSciences by 16.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,597 shares of the company's stock valued at $68,000 after acquiring an additional 513 shares during the last quarter. Finally, Amundi increased its position in Pacira BioSciences by 200.8% during the fourth quarter. Amundi now owns 23,114 shares of the company's stock valued at $429,000 after acquiring an additional 15,431 shares during the last quarter. 99.73% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, SVP Lauren Riker sold 5,578 shares of Pacira BioSciences stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $26.21, for a total value of $146,199.38. Following the transaction, the senior vice president directly owned 59,564 shares in the company, valued at approximately $1,561,172.44. This trade represents a 8.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.40% of the stock is owned by insiders.

Pacira BioSciences Price Performance

Shares of NASDAQ:PCRX traded down $0.79 during trading on Friday, hitting $22.90. 504,334 shares of the company's stock were exchanged, compared to its average volume of 901,916. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -10.04 and a beta of 0.48. The business's 50-day simple moving average is $24.81 and its 200 day simple moving average is $24.25. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.41 and a quick ratio of 1.99. Pacira BioSciences, Inc. has a 52-week low of $11.16 and a 52-week high of $27.64.

Analyst Ratings Changes

PCRX has been the subject of a number of research reports. HC Wainwright upped their price objective on Pacira BioSciences from $48.00 to $65.00 and gave the company a "buy" rating in a research report on Tuesday, April 8th. Needham & Company LLC reduced their price objective on Pacira BioSciences from $32.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Finally, Wall Street Zen upgraded Pacira BioSciences from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $26.44.

About Pacira BioSciences

Pacira Biosciences, Inc is a holding company, which engages in the provision of non-opioid pain management and regenerative health solutions to improve patients' journeys along the neural pain pathway. Its products include EXPAREL, iovera, and DepoFoam. The company was founded in December 2006 and is headquartered in Tampa, FL.