Man Group plc purchased a new position in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 125,370 shares of the company's stock, valued at approximately $3,181,000. Man Group plc owned 0.31% of Pacira BioSciences at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its holdings in shares of Pacira BioSciences by 15.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,751 shares of the company's stock valued at $85,000 after acquiring an additional 492 shares during the last quarter. Inspire Investing LLC raised its holdings in shares of Pacira BioSciences by 3.2% during the fourth quarter. Inspire Investing LLC now owns 17,958 shares of the company's stock worth $465,000 after purchasing an additional 556 shares during the last quarter. State of Wyoming raised its holdings in shares of Pacira BioSciences by 7.0% during the fourth quarter. State of Wyoming now owns 11,155 shares of the company's stock worth $289,000 after purchasing an additional 728 shares during the last quarter. Franklin Resources Inc. lifted its position in Pacira BioSciences by 2.6% during the fourth quarter. Franklin Resources Inc. now owns 33,860 shares of the company's stock valued at $876,000 after purchasing an additional 846 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in Pacira BioSciences by 10.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,746 shares of the company's stock valued at $268,000 after purchasing an additional 1,142 shares during the period. 99.73% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Pacira BioSciences
In related news, SVP Lauren Riker sold 6,115 shares of the company's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $23.50, for a total value of $143,702.50. Following the completion of the transaction, the senior vice president owned 62,284 shares of the company's stock, valued at approximately $1,463,674. This represents a 8.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Slonin sold 3,040 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $23.23, for a total value of $70,619.20. Following the transaction, the insider owned 216,384 shares in the company, valued at $5,026,600.32. This represents a 1.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 6.40% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on PCRX shares. Wall Street Zen downgraded Pacira BioSciences from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 16th. Truist Financial started coverage on Pacira BioSciences in a research note on Monday, August 17th. They issued a "buy" rating and a $30.00 target price on the stock. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Pacira BioSciences in a report on Monday, August 17th. Needham & Company LLC lifted their price target on Pacira BioSciences from $32.00 to $33.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Finally, HC Wainwright reissued a "buy" rating and issued a $38.00 price target on shares of Pacira BioSciences in a report on Wednesday, July 1st. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Pacira BioSciences has a consensus rating of "Hold" and an average price target of $30.20.
Get Our Latest Report on Pacira BioSciences
Pacira BioSciences Stock Up 0.5%
PCRX opened at $25.90 on Tuesday. Pacira BioSciences, Inc. has a fifty-two week low of $18.80 and a fifty-two week high of $27.66. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.94 and a current ratio of 5.04. The company has a fifty day moving average of $25.25 and a two-hundred day moving average of $23.88. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 74.00 and a beta of 0.27.
Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.08. Pacira BioSciences had a net margin of 1.96% and a return on equity of 9.68%. The business had revenue of $192.40 million during the quarter, compared to the consensus estimate of $191.06 million. During the same quarter in the prior year, the firm posted $0.74 earnings per share. The company's revenue was up 6.2% compared to the same quarter last year. On average, research analysts expect that Pacira BioSciences, Inc. will post 1.98 earnings per share for the current year.
Pacira BioSciences Profile
(
Free Report)
Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid, non-addictive pain management and regenerative health solutions. The company's flagship product, EXPAREL, is a bupivacaine liposome injectable suspension designed to provide long-lasting postsurgical analgesia. EXPAREL is used by clinicians across a broad range of surgical procedures to reduce reliance on opioid medications and to help manage acute postoperative pain.
In addition to its marketed offering, Pacira maintains an active pipeline of investigational products aimed at addressing unmet needs in pain management and inflammation control.
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