Banco Santander S.A. Buys 15,100 Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX)

Key Points

• Banco Santander S.A. has increased its stake in Pacira BioSciences by 11.9%, owning 142,000 shares valued at approximately $3.53 million after purchasing an additional 15,100 shares.
• Recent analysts' ratings reflect mixed opinions, with Needham & Company lowering its price target from $32.00 to $30.00, while HC Wainwright significantly raised its target from $48.00 to $65.00.
• Insider activity includes SVP Lauren Riker selling 5,578 shares at an average price of $26.21, resulting in an 8.56% decrease in her ownership of the stock.

Banco Santander S.A. lifted its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 11.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 142,000 shares of the company's stock after purchasing an additional 15,100 shares during the period. Banco Santander S.A. owned approximately 0.31% of Pacira BioSciences worth $3,529,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PCRX. US Bancorp DE grew 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 valued at $56,000 after acquiring an additional 537 shares during the period. Wealthquest Corp bought a new stake in shares of Pacira BioSciences in the 1st quarter valued at about $59,000. Natixis Advisors LLC bought a new stake in shares of Pacira BioSciences during the 1st quarter valued at about $327,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Pacira BioSciences by 20.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,519 shares of the company's stock valued at $410,000 after acquiring an additional 2,848 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Pacira BioSciences in the 1st quarter worth about $392,000. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Pacira BioSciences from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Truist Financial upgraded shares of Pacira BioSciences from a "hold" rating to a "buy" rating and set a $30.00 price target on the stock in a research note on Friday, July 25th. Finally, Needham & Company LLC lowered their price objective on shares of Pacira BioSciences from $32.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Pacira BioSciences has an average rating of "Moderate Buy" and an average target price of $25.75.

Insider Transactions at Pacira BioSciences

In related news, SVP Lauren Riker sold 5,578 shares of the company's stock in a transaction dated 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 sale, the senior vice president owned 59,564 shares of the company's stock, valued at $1,561,172.44. This represents a 8.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 6.40% of the stock is owned by corporate insiders.

Pacira BioSciences Stock Up 4.3%

Shares of PCRX traded up $0.96 during trading on Thursday, reaching $23.36. The company's stock had a trading volume of 203,443 shares, compared to its average volume of 803,602. The company has a quick ratio of 1.99, a current ratio of 2.41 and a debt-to-equity ratio of 0.48. Pacira BioSciences, Inc. has a twelve month low of $11.16 and a twelve month high of $27.64. The company has a fifty day moving average of $23.64 and a two-hundred day moving average of $24.56. The company has a market cap of $1.08 billion, a price-to-earnings ratio of -8.41 and a beta of 0.48.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last issued its quarterly earnings data 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. Pacira BioSciences had a positive return on equity of 13.22% 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 previous year, the company posted $0.96 EPS. The business's revenue for the quarter was up 1.7% compared to the same quarter last year. On average, sell-side analysts predict that Pacira BioSciences, Inc. will post 2.41 EPS for the current fiscal year.

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.