Legal & General Group Plc Makes New $2.25 Million Investment in Pacira BioSciences, Inc. $PCRX

Legal & General Group Plc acquired a new stake in Pacira BioSciences, Inc. (NASDAQ:PCRX) in the second quarter, HoldingsChannel reports. The institutional investor acquired 88,640 shares of the company’s stock, valued at approximately $2,249,000.

Several other large investors also recently modified their holdings of PCRX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Pacira BioSciences by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,242 shares of the company’s stock worth $677,000 after acquiring an additional 1,165 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Pacira BioSciences by 49.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company’s stock valued at $27,454,000 after purchasing an additional 367,869 shares during the last quarter. Strs Ohio purchased a new position in Pacira BioSciences in the first quarter valued at about $75,000. Marshall Wace LLP acquired a new stake in Pacira BioSciences during the 2nd quarter valued at approximately $4,550,000. Finally, Sei Investments Co. grew its stake in Pacira BioSciences by 35.3% during the 2nd quarter. Sei Investments Co. now owns 25,357 shares of the company’s stock valued at $606,000 after purchasing an additional 6,609 shares in the last quarter. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on PCRX. Royal Bank Of Canada upped their target price on Pacira BioSciences from $24.00 to $25.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 5th. HC Wainwright reissued a “buy” rating and set a $38.00 price target on shares of Pacira BioSciences in a research report on Wednesday, July 1st. Truist Financial started coverage on shares of Pacira BioSciences in a research note on Monday, August 17th. They issued a “buy” rating and a $30.00 price target for the company. Weiss Ratings raised shares of Pacira BioSciences from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday. Finally, Needham & Company LLC upped their price target on shares of Pacira BioSciences from $32.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $30.20.

Insider Transactions at Pacira BioSciences

In other news, insider Jonathan Slonin sold 3,040 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $23.23, for a total transaction of $70,619.20. Following the completion of the transaction, the insider owned 216,384 shares in the company, valued at approximately $5,026,600.32. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Lauren Riker sold 6,115 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $23.50, for a total transaction of $143,702.50. Following the completion of the sale, the senior vice president owned 62,284 shares in the company, valued at $1,463,674. The trade was a 8.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.40% of the stock is owned by insiders.

Pacira BioSciences Stock Performance

PCRX opened at $26.35 on Friday. The business has a 50 day moving average price of $25.43 and a two-hundred day moving average price of $24.00. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.04 and a quick ratio of 3.94. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 75.29 and a beta of 0.26. Pacira BioSciences, Inc. has a 1-year low of $18.80 and a 1-year high of $27.66.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.08. Pacira BioSciences had a return on equity of 9.68% and a net margin of 1.96%.The company had revenue of $192.40 million for the quarter, compared to analysts’ expectations of $191.06 million. During the same period last year, the firm earned $0.74 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. Research analysts predict that Pacira BioSciences, Inc. will post 1.98 EPS for the current fiscal year.

Pacira BioSciences Company 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.