Pacira BioSciences, Inc. (NASDAQ:PCRX) Shares Purchased by Banco Santander S.A.

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. increased its position in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 11.9% in the first quarter, according to the company in its most recent Form 13F filing 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 0.31% of Pacira BioSciences worth $3,529,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Pacira BioSciences during the first quarter worth $277,000. ProShare Advisors LLC boosted its stake in Pacira BioSciences by 30.2% in the fourth quarter. ProShare Advisors LLC now owns 16,003 shares of the company's stock valued at $301,000 after acquiring an additional 3,710 shares in the last quarter. GAMMA Investing LLC boosted its stake in Pacira BioSciences by 112.8% in the first quarter. GAMMA Investing LLC now owns 3,694 shares of the company's stock valued at $92,000 after acquiring an additional 1,958 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Pacira BioSciences by 3.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,077 shares of the company's stock valued at $491,000 after acquiring an additional 794 shares in the last quarter. Finally, LPL Financial LLC acquired a new position in Pacira BioSciences in the fourth quarter valued at $251,000. Institutional investors and hedge funds own 99.73% of the company's stock.

Analysts Set New Price Targets

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

Insider Activity at Pacira BioSciences

In other 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 value of $146,199.38. Following the completion of the sale, the senior vice president directly owned 59,564 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. Insiders own 6.40% of the company's stock.

Pacira BioSciences Price Performance

Shares of NASDAQ:PCRX opened at $22.07 on Friday. The company has a 50-day simple moving average of $23.83 and a 200-day simple moving average of $24.57. Pacira BioSciences, Inc. has a one year low of $11.16 and a one year high of $27.64. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.99 and a current ratio of 2.41. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -9.68 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.

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