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) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,488 shares of the company's stock, valued at approximately $277,000.

Several other hedge funds have also modified their holdings of PCRX. Sterling Capital Management LLC raised its position in shares of Pacira BioSciences by 779.4% in the 4th quarter. Sterling Capital Management LLC now owns 1,363 shares of the company's stock valued at $26,000 after purchasing an additional 1,208 shares during the last quarter. Ancora Advisors LLC acquired a new position in Pacira BioSciences in the 4th quarter worth approximately $26,000. Wealthquest Corp acquired a new position in Pacira BioSciences in the 1st quarter worth approximately $59,000. PNC Financial Services Group Inc. increased its holdings in Pacira BioSciences by 16.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,597 shares of the company's stock worth $68,000 after buying an additional 513 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Pacira BioSciences by 112.8% in the 1st quarter. GAMMA Investing LLC now owns 3,694 shares of the company's stock worth $92,000 after buying an additional 1,958 shares during the period. 99.73% of the stock is owned by hedge funds and other institutional investors.

Pacira BioSciences Trading Down 1.8%

Shares of NASDAQ:PCRX traded down $0.43 during midday trading on Tuesday, reaching $22.88. 270,097 shares of the company's stock were exchanged, compared to its average volume of 898,613. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.41 and a quick ratio of 1.99. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -9.99 and a beta of 0.48. The firm's 50 day simple moving average is $24.76 and its two-hundred day simple moving average is $24.34. Pacira BioSciences, Inc. has a fifty-two week low of $11.16 and a fifty-two week high of $27.64.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PCRX shares. Needham & Company LLC cut their price target on shares of Pacira BioSciences from $32.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Wall Street Zen raised shares of Pacira BioSciences from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, HC Wainwright raised their price objective on shares of Pacira BioSciences from $48.00 to $65.00 and gave the stock a "buy" rating in a research note on Tuesday, April 8th. One equities 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. Based on data from MarketBeat, Pacira BioSciences has a consensus rating of "Hold" and an average price target of $26.44.

Insider Buying and Selling

In other Pacira BioSciences news, SVP Lauren Riker sold 5,578 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were 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 $1,561,172.44. This represents a 8.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.40% of the stock is owned by corporate insiders.

Pacira BioSciences Profile

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.