Deutsche Bank AG Cuts Stock Position in Pacira BioSciences, Inc. $PCRX

Key Points

• Deutsche Bank AG significantly reduced its holdings in Pacira BioSciences, cutting its stake by 81.2% in the first quarter, leaving it with approximately 330,578 shares valued at $8.2 million.
• Several other institutional investors, such as Sterling Capital Management and US Bancorp DE, have made notable adjustments to their positions in Pacira BioSciences, highlighting a shift in investment interest.
• Analysts maintain a consensus rating of "Moderate Buy" for Pacira BioSciences, with price targets around $30.83, despite recent adjustments to targets by firms like Needham & Company LLC.

Deutsche Bank AG reduced its stake in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 81.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 330,578 shares of the company's stock after selling 1,425,828 shares during the quarter. Deutsche Bank AG owned about 0.71% of Pacira BioSciences worth $8,215,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Ancora Advisors LLC bought a new stake in shares of Pacira BioSciences in the 4th quarter worth approximately $26,000. Sterling Capital Management LLC boosted 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 worth $26,000 after purchasing an additional 1,208 shares in the last quarter. US Bancorp DE boosted its position in shares of Pacira BioSciences by 31.0% in the 1st quarter. US Bancorp DE now owns 2,270 shares of the company's stock worth $56,000 after purchasing an additional 537 shares in the last quarter. Wealthquest Corp bought a new stake in shares of Pacira BioSciences in the 1st quarter worth approximately $59,000. Finally, GAMMA Investing LLC boosted its position in shares of 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 purchasing an additional 1,958 shares in the last quarter. 99.73% of the stock is owned by institutional investors.

Insider Buying and Selling at Pacira BioSciences

In other news, SVP Lauren Riker sold 5,578 shares of the company's 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 completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Marcelo Bigal sold 4,912 shares of the company's stock in a transaction 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 of the company's stock, valued at $269,672.31. This trade represents a 30.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.40% of the company's stock.

Pacira BioSciences Stock Performance

Shares of NASDAQ PCRX traded down $0.20 during midday trading on Wednesday, hitting $24.99. 408,951 shares of the stock traded hands, compared to its average volume of 829,375. The firm has a 50-day moving average of $23.45 and a two-hundred day moving average of $24.59. The firm has a market capitalization of $1.12 billion, a P/E ratio of -8.99 and a beta of 0.48. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.91 and a current ratio of 2.38. Pacira BioSciences, Inc. has a one year low of $12.61 and a one year high of $27.64.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last released its quarterly 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. The firm had revenue of $181.10 million for the quarter, compared to analysts' expectations of $183.11 million. Pacira BioSciences had a positive return on equity of 13.29% and a negative net margin of 18.08%.The company's revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.96 EPS. Pacira BioSciences has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Pacira BioSciences, Inc. will post 2.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PCRX has been the topic of a number of analyst reports. Needham & Company LLC dropped their price target on Pacira BioSciences from $32.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Zacks Research raised Pacira BioSciences from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 14th. 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, Wall Street Zen raised Pacira BioSciences from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Pacira BioSciences currently has an average rating of "Moderate Buy" and a consensus 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.