Wellington Management Group LLP Grows Holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Wellington Management Group LLP boosted its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 470,191 shares of the company's stock after purchasing an additional 15,542 shares during the period. Wellington Management Group LLP owned approximately 1.02% of Pacira BioSciences worth $8,858,000 at the end of the most recent reporting period.

A number of other large 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 worth approximately $20,266,000. Jacobs Levy Equity Management Inc. purchased a new position in Pacira BioSciences during the fourth quarter worth approximately $8,558,000. Balyasny Asset Management L.P. purchased a new position in Pacira BioSciences during the fourth quarter worth approximately $8,180,000. Nuveen Asset Management LLC raised its stake in Pacira BioSciences by 109.9% during 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 period. Finally, Ameriprise Financial Inc. raised its stake in Pacira BioSciences by 150.1% during the fourth quarter. Ameriprise Financial Inc. now owns 324,261 shares of the company's stock worth $6,109,000 after purchasing an additional 194,597 shares during the period. Hedge funds and other institutional investors own 99.73% of the company's stock.

Insider Activity

In other news, SVP Lauren Riker sold 5,578 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $26.21, for a total value of $146,199.38. Following the transaction, the senior vice president now owns 59,564 shares of the company's stock, valued at approximately $1,561,172.44. This trade represents a 8.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 6.40% of the company's stock.

Analyst Ratings Changes

PCRX has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of Pacira BioSciences from $17.00 to $24.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. 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 research note on Friday, May 9th. Finally, HC Wainwright increased their price target on shares of Pacira BioSciences from $48.00 to $65.00 and gave the stock a "buy" rating in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $26.44.

Pacira BioSciences Trading Down 2.9%

Shares of PCRX stock traded down $0.77 during mid-day trading on Friday, reaching $25.97. The company's stock had a trading volume of 431,551 shares, compared to its average volume of 972,803. The company's 50 day simple moving average is $25.49 and its 200-day simple moving average is $23.26. Pacira BioSciences, Inc. has a 12-month low of $11.16 and a 12-month high of $29.95. The company has a quick ratio of 1.89, a current ratio of 2.25 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $1.20 billion, a PE ratio of -12.79 and a beta of 0.56.

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.