Pacira BioSciences, Inc. (NASDAQ:PCRX) Shares Sold by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group Inc. has reduced its stake in Pacira BioSciences by 50.3%, owning about 0.38% of the company after selling 176,478 shares during the first quarter.
• A significant number of other institutional investors have also adjusted their positions, including Allspring Global Investments acquiring a new position worth approximately $277,000.
• Analysts have varied ratings on Pacira BioSciences, with some recent upgrades and a current average target price of $25.75, indicating a consensus of a "Moderate Buy."

Jefferies Financial Group Inc. lowered its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 50.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 174,292 shares of the company's stock after selling 176,478 shares during the quarter. Jefferies Financial Group Inc. owned 0.38% of Pacira BioSciences worth $4,331,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Point72 Asset Management L.P. bought a new stake in Pacira BioSciences in the 4th quarter worth $20,266,000. Jacobs Levy Equity Management Inc. bought a new stake in Pacira BioSciences during the fourth quarter worth about $8,558,000. Balyasny Asset Management L.P. bought a new stake in Pacira BioSciences during the fourth quarter worth about $8,180,000. Nuveen Asset Management LLC boosted its stake in Pacira BioSciences by 109.9% during the fourth quarter. Nuveen Asset Management LLC now owns 625,917 shares of the company's stock worth $11,792,000 after acquiring an additional 327,754 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Pacira BioSciences by 48.9% during the first quarter. Assenagon Asset Management S.A. now owns 673,289 shares of the company's stock worth $16,731,000 after acquiring an additional 221,196 shares in the last quarter. Hedge funds and other institutional investors own 99.73% of the company's stock.

Pacira BioSciences Stock Performance

Shares of PCRX stock traded down $0.25 during trading hours on Wednesday, hitting $22.29. The company's stock had a trading volume of 1,018,692 shares, compared to its average volume of 803,628. The company has a 50 day moving average of $23.71 and a 200 day moving average of $24.58. The stock has a market cap of $1.03 billion, a PE ratio of -9.69 and a beta of 0.48. The company has a current ratio of 2.41, a quick ratio of 1.99 and a debt-to-equity ratio of 0.48. Pacira BioSciences, Inc. has a 12-month low of $11.16 and a 12-month high of $27.64.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. The firm had revenue of $181.10 million during the quarter, compared to analysts' expectations of $183.11 million. Pacira BioSciences had a negative net margin of 14.78% and a positive return on equity of 13.78%. The business's revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.96 EPS. On average, sell-side analysts forecast that Pacira BioSciences, Inc. will post 2.41 EPS for the current fiscal year.

Analyst Ratings Changes

PCRX has been the topic of several analyst reports. Needham & Company LLC dropped their target price on shares of Pacira BioSciences from $32.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Truist Financial upgraded shares of Pacira BioSciences from a "hold" rating to a "buy" rating and set a $30.00 target price on the stock in a report on Friday, July 25th. HC Wainwright increased their price target on shares of Pacira BioSciences from $48.00 to $65.00 and gave the stock a "buy" rating in a research report on Tuesday, April 8th. Finally, Wall Street Zen upgraded shares of Pacira BioSciences from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Pacira BioSciences presently has a consensus rating of "Moderate Buy" and an average price target of $25.75.

Insider Activity at Pacira BioSciences

In other news, SVP Lauren Riker sold 5,578 shares of the stock in a transaction dated Wednesday, June 4th. The shares were 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.40% of the stock is owned by company insiders.

Pacira BioSciences Company 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.