UBS Group AG Has $14.46 Million Position in Pacira BioSciences, Inc. $PCRX

Key Points

• UBS Group AG cut its Pacira BioSciences stake by 34.7% in the fourth quarter, selling 296,210 shares and ending with 558,651 shares worth about $14.46 million.
• Analyst sentiment is mixed, with recent target changes from firms like Needham, Barclays, and RBC leaving Pacira with a consensus rating of Hold and an average price target of $29.40.
• Pacira missed EPS expectations but beat on revenue in its latest quarterly results, reporting $0.60 per share versus $0.61 expected while revenue came in at $177.38 million, up 5% year over year.

UBS Group AG lowered its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 34.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 558,651 shares of the company's stock after selling 296,210 shares during the quarter. UBS Group AG owned about 1.30% of Pacira BioSciences worth $14,458,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Impax Asset Management Group plc grew its position in Pacira BioSciences by 25.0% during the fourth quarter. Impax Asset Management Group plc now owns 750,027 shares of the company's stock worth $19,411,000 after buying an additional 150,000 shares in the last quarter. Milestone Asset Management LLC acquired a new stake in Pacira BioSciences during the fourth quarter worth approximately $1,323,000. Universal Beteiligungs und Servicegesellschaft mbH grew its position in Pacira BioSciences by 360.1% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 69,097 shares of the company's stock worth $1,788,000 after buying an additional 54,079 shares in the last quarter. Greenwood Capital Associates LLC grew its position in Pacira BioSciences by 29.7% during the fourth quarter. Greenwood Capital Associates LLC now owns 19,324 shares of the company's stock worth $500,000 after buying an additional 4,426 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in Pacira BioSciences by 14.0% during the fourth quarter. Farther Finance Advisors LLC now owns 9,317 shares of the company's stock worth $241,000 after buying an additional 1,145 shares in the last quarter. Institutional investors and hedge funds own 99.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PCRX shares. Needham & Company LLC increased their price target on Pacira BioSciences from $30.00 to $32.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Zacks Research upgraded shares of Pacira BioSciences from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 7th. Barclays reduced their price target on shares of Pacira BioSciences from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 26th. Wall Street Zen lowered shares of Pacira BioSciences from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 28th. Finally, Royal Bank Of Canada increased their price target on shares of Pacira BioSciences from $22.00 to $24.00 and gave the stock a "sector perform" rating in a research report on Friday, May 1st. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Pacira BioSciences has a consensus rating of "Hold" and a consensus target price of $29.40.

Pacira BioSciences Stock Performance

Shares of Pacira BioSciences stock opened at $23.04 on Thursday. Pacira BioSciences, Inc. has a fifty-two week low of $18.80 and a fifty-two week high of $27.64. The company has a debt-to-equity ratio of 0.56, a current ratio of 4.73 and a quick ratio of 3.35. The firm has a market capitalization of $906.62 million, a P/E ratio of 192.02 and a beta of 0.32. The company's 50 day moving average price is $23.41 and its two-hundred day moving average price is $23.20.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $0.60 earnings per share for the quarter, missing analysts' consensus estimates of $0.61 by ($0.01). Pacira BioSciences had a net margin of 0.70% and a return on equity of 10.24%. The company had revenue of $177.38 million during the quarter, compared to analyst estimates of $171.80 million. During the same quarter in the prior year, the business earned $0.65 EPS. The business's quarterly revenue was up 5.0% on a year-over-year basis. On average, equities analysts forecast that Pacira BioSciences, Inc. will post 1.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Jonathan Slonin sold 3,261 shares of Pacira BioSciences stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $22.82, for a total transaction of $74,416.02. Following the transaction, the insider owned 223,640 shares in the company, valued at approximately $5,103,464.80. The trade was a 1.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Shawn Cross sold 12,941 shares of Pacira BioSciences stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $25.16, for a total transaction of $325,595.56. Following the transaction, the chief financial officer owned 105,341 shares in the company, valued at approximately $2,650,379.56. This trade represents a 10.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,261 shares of company stock worth $702,610 in the last 90 days. Company insiders own 6.40% of the company's stock.

Pacira BioSciences Profile

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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