Assenagon Asset Management S.A. Has $11.54 Million Stock Holdings in Pacira BioSciences, Inc. $PCRX

Key Points

• Assenagon Asset Management S.A. has reduced its stake in Pacira BioSciences by 28.3%, now holding approximately 482,964 shares valued at $11.54 million.
• Pacira BioSciences reported earnings of $0.74 per share for the last quarter, surpassing analyst expectations of $0.73, with quarterly revenue increasing by 1.7% year-over-year.
• Several research firms have upgraded Pacira BioSciences to a "buy" rating, with a consensus target price of $30.83 and strong institutional interest, owning 99.73% of the stock.

Assenagon Asset Management S.A. cut its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 28.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 482,964 shares of the company's stock after selling 190,325 shares during the period. Assenagon Asset Management S.A. owned approximately 1.04% of Pacira BioSciences worth $11,543,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PCRX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Pacira BioSciences by 3.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,077 shares of the company's stock valued at $491,000 after buying an additional 794 shares during the period. Nuveen Asset Management LLC raised its position in Pacira BioSciences by 109.9% during the fourth quarter. Nuveen Asset Management LLC now owns 625,917 shares of the company's stock valued at $11,792,000 after buying an additional 327,754 shares during the period. ProShare Advisors LLC raised its position in Pacira BioSciences by 30.2% during the fourth quarter. ProShare Advisors LLC now owns 16,003 shares of the company's stock valued at $301,000 after buying an additional 3,710 shares during the period. State of Wyoming raised its position in Pacira BioSciences by 8.0% during the fourth quarter. State of Wyoming now owns 6,566 shares of the company's stock valued at $124,000 after buying an additional 487 shares during the period. Finally, Two Sigma Investments LP raised its position in Pacira BioSciences by 65.1% during the fourth quarter. Two Sigma Investments LP now owns 114,682 shares of the company's stock valued at $2,161,000 after buying an additional 45,222 shares during the period. 99.73% of the stock is owned by institutional investors and hedge funds.

Pacira BioSciences Price Performance

Shares of NASDAQ:PCRX opened at $26.46 on Tuesday. The business has a 50 day moving average price of $24.70 and a 200 day moving average price of $24.75. Pacira BioSciences, Inc. has a twelve month low of $13.78 and a twelve month high of $27.64. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -9.52 and a beta of 0.41. The company has a quick ratio of 1.91, a current ratio of 2.38 and a debt-to-equity ratio of 0.50.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. Pacira BioSciences had a positive return on equity of 13.29% and a negative net margin of 18.08%.The firm had revenue of $181.10 million during the quarter, compared to the consensus estimate of $183.11 million. During the same quarter in the prior year, the company earned $0.96 EPS. The firm's revenue for the quarter was up 1.7% compared to the same quarter last year. Pacira BioSciences has set its FY 2025 guidance at EPS. Research analysts predict that Pacira BioSciences, Inc. will post 2.41 earnings per share for the current year.

Insider Activity at Pacira BioSciences

In other Pacira BioSciences news, Director Marcelo Bigal sold 4,912 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $23.67, for a total value of $116,267.04. Following the completion of the sale, the director owned 11,393 shares in the company, valued at approximately $269,672.31. This trade represents a 30.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.40% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PCRX. Wall Street Zen raised Pacira BioSciences from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Truist Financial raised Pacira BioSciences from a "hold" rating to a "buy" rating and set a $30.00 price target on the stock in a research report on Friday, July 25th. Finally, Zacks Research raised Pacira BioSciences from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 14th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Pacira BioSciences has a consensus rating of "Moderate Buy" and an average target price of $30.83.

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.

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