Pacira BioSciences, Inc. (NASDAQ:PCRX) Stock Holdings Cut by Clearbridge Investments LLC

Clearbridge Investments LLC cut its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,145,687 shares of the company’s stock after selling 3,788 shares during the quarter. Clearbridge Investments LLC owned 2.47% of Pacira BioSciences worth $38,655,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of PCRX. Pacer Advisors Inc. lifted its holdings in shares of Pacira BioSciences by 397,487.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,041,679 shares of the company’s stock valued at $35,146,000 after purchasing an additional 1,041,417 shares in the last quarter. Rubric Capital Management LP purchased a new stake in shares of Pacira BioSciences in the third quarter valued at $14,102,000. Norges Bank purchased a new stake in shares of Pacira BioSciences in the fourth quarter valued at $9,542,000. Assenagon Asset Management S.A. lifted its holdings in shares of Pacira BioSciences by 185.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 246,621 shares of the company’s stock valued at $8,321,000 after purchasing an additional 160,149 shares in the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of Pacira BioSciences in the fourth quarter valued at $4,521,000. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Trading Down 0.6 %

Shares of NASDAQ:PCRX opened at $30.72 on Thursday. Pacira BioSciences, Inc. has a 52-week low of $25.33 and a 52-week high of $42.63. The company has a market cap of $1.43 billion, a P/E ratio of 21.48 and a beta of 0.77. The stock’s 50-day moving average is $28.35 and its 200-day moving average is $29.66. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.78 and a current ratio of 5.81.

Pacira BioSciences (NASDAQ:PCRX) last released its earnings results on Thursday, February 29th. The company reported $0.71 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.71. Pacira BioSciences had a return on equity of 12.98% and a net margin of 10.34%. The business had revenue of $181.24 million for the quarter, compared to the consensus estimate of $180.60 million. Equities research analysts predict that Pacira BioSciences, Inc. will post 2.12 earnings per share for the current year.

Insiders Place Their Bets

In other Pacira BioSciences news, Director Gary W. Pace sold 1,066 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $29.67, for a total transaction of $31,628.22. Following the completion of the transaction, the director now owns 140,384 shares in the company, valued at $4,165,193.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Gary W. Pace sold 1,066 shares of Pacira BioSciences stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $29.67, for a total value of $31,628.22. Following the completion of the transaction, the director now owns 140,384 shares in the company, valued at $4,165,193.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gary W. Pace sold 90,000 shares of Pacira BioSciences stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $30.60, for a total transaction of $2,754,000.00. Following the completion of the transaction, the director now owns 22,127 shares of the company’s stock, valued at approximately $677,086.20. The disclosure for this sale can be found here. Corporate insiders own 6.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PCRX. HC Wainwright reiterated a “buy” rating and set a $57.00 price objective on shares of Pacira BioSciences in a report on Wednesday, May 8th. JPMorgan Chase & Co. began coverage on Pacira BioSciences in a report on Thursday, March 7th. They set an “overweight” rating and a $45.00 price objective for the company. Wedbush reiterated an “outperform” rating and set a $57.00 price objective on shares of Pacira BioSciences in a report on Thursday, February 8th. Barclays lowered their target price on shares of Pacira BioSciences from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. Finally, Royal Bank of Canada lowered their target price on shares of Pacira BioSciences from $53.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, March 1st. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $47.40.

Pacira BioSciences Company Profile

Pacira BioSciences, Inc engages in the development, manufacture, marketing, distribution, and sale of non-opioid pain management and regenerative health solutions to healthcare practitioners in the United States. The company offers EXPAREL, a bupivacaine liposome injectable suspension; ZILRETTA, a triamcinolone acetonide extended-release injectable suspension; and iovera system, a non-opioid handheld cryoanalgesia device used to produce controlled doses of cold temperature to targeted nerves.