Pacira BioSciences, Inc. (NASDAQ:PCRX) Shares Sold by Legato Capital Management LLC

Legato Capital Management LLC trimmed its holdings in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 25.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,863 shares of the company's stock after selling 14,040 shares during the quarter. Legato Capital Management LLC owned approximately 0.09% of Pacira BioSciences worth $1,015,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PCRX. Point72 Asset Management L.P. purchased a new position in Pacira BioSciences during the fourth quarter valued at approximately $20,266,000. Jacobs Levy Equity Management Inc. purchased a new position in Pacira BioSciences in the fourth quarter worth $8,558,000. Balyasny Asset Management L.P. purchased a new position in Pacira BioSciences in the fourth quarter worth $8,180,000. Nuveen Asset Management LLC grew its holdings in Pacira BioSciences by 109.9% in the fourth quarter. Nuveen Asset Management LLC now owns 625,917 shares of the company's stock worth $11,792,000 after purchasing an additional 327,754 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Pacira BioSciences by 48.9% in the first quarter. Assenagon Asset Management S.A. now owns 673,289 shares of the company's stock worth $16,731,000 after purchasing an additional 221,196 shares during the last quarter. 99.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PCRX has been the topic of several analyst reports. 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 report on Friday, June 6th. HC Wainwright lifted their price target on shares of Pacira BioSciences from $48.00 to $65.00 and gave the stock a "buy" rating in a report on Tuesday, April 8th. Finally, Truist Financial raised shares of Pacira BioSciences from a "hold" rating to a "buy" rating and set a $30.00 price target on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Pacira BioSciences has a consensus rating of "Moderate Buy" and an average price target of $27.00.

Insider Activity at Pacira BioSciences

In related news, SVP Lauren Riker sold 5,578 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $26.21, for a total transaction of $146,199.38. Following the completion of the transaction, the senior vice president directly owned 59,564 shares in the company, valued at $1,561,172.44. The trade was a 8.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 6.40% of the company's stock.

Pacira BioSciences Stock Performance

Shares of NASDAQ:PCRX traded up $0.73 on Friday, hitting $22.55. 765,904 shares of the company were exchanged, compared to its average volume of 527,079. Pacira BioSciences, Inc. has a 1-year low of $11.16 and a 1-year high of $27.64. The stock's 50 day moving average price is $24.28 and its 200 day moving average price is $24.49. The company has a current ratio of 2.41, a quick ratio of 1.99 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $1.04 billion, a P/E ratio of -9.89 and a beta of 0.48.

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.