Hsbc Holdings PLC Purchases New Holdings in Pacira BioSciences, Inc. $PCRX

Hsbc Holdings PLC purchased a new stake in Pacira BioSciences, Inc. (NASDAQ:PCRX) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 29,482 shares of the company’s stock, valued at approximately $747,000.

Other hedge funds also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Pacira BioSciences by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,242 shares of the company’s stock worth $677,000 after purchasing an additional 1,165 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Pacira BioSciences by 49.9% during 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 period. Strs Ohio acquired a new position in shares of Pacira BioSciences in the first quarter valued at $75,000. Marshall Wace LLP acquired a new position in shares of Pacira BioSciences in the second quarter valued at $4,550,000. Finally, Sei Investments Co. raised its stake in shares of Pacira BioSciences by 35.3% in the second 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. Institutional investors own 99.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Pacira BioSciences in a research note on Monday, August 17th. Wall Street Zen downgraded shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 16th. Truist Financial initiated coverage on shares of Pacira BioSciences in a report on Monday, August 17th. They set a “buy” rating and a $30.00 price objective for the company. Royal Bank Of Canada lifted their target price on shares of Pacira BioSciences from $24.00 to $25.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 5th. Finally, Needham & Company LLC upped their target price on shares of Pacira BioSciences from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Pacira BioSciences presently has an average rating of “Hold” and an average price target of $30.20.

Insiders Place Their Bets

In other news, insider Jonathan Slonin sold 3,040 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $23.23, for a total value of $70,619.20. Following the sale, the insider owned 216,384 shares of the company’s stock, valued at approximately $5,026,600.32. This represents a 1.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Lauren Riker sold 6,115 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $23.50, for a total transaction of $143,702.50. Following the sale, the senior vice president owned 62,284 shares of the company’s stock, valued at $1,463,674. This trade represents a 8.94% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.40% of the stock is currently owned by company insiders.

Pacira BioSciences Trading Up 2.2%

Shares of PCRX opened at $26.47 on Wednesday. The company has a current ratio of 5.04, a quick ratio of 3.94 and a debt-to-equity ratio of 0.54. The stock has a market cap of $1.06 billion, a PE ratio of 75.63 and a beta of 0.27. Pacira BioSciences, Inc. has a 1 year low of $18.80 and a 1 year high of $27.66. The stock has a 50 day simple moving average of $25.31 and a 200-day simple moving average of $23.92.

Pacira BioSciences (NASDAQ:PCRX) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.73 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 business had revenue of $192.40 million for the quarter, compared to analyst estimates of $191.06 million. During the same quarter in the previous year, the firm earned $0.74 EPS. Pacira BioSciences’s quarterly revenue was up 6.2% on a year-over-year basis. On average, sell-side analysts predict that Pacira BioSciences, Inc. will post 1.98 EPS for the current fiscal year.

About Pacira BioSciences

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.