Wellington Management Group LLP Has $14.29 Million Stake in Pacira BioSciences, Inc. $PCRX

Wellington Management Group LLP increased its holdings in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 17.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 563,458 shares of the company’s stock after buying an additional 85,075 shares during the period. Wellington Management Group LLP’s holdings in Pacira BioSciences were worth $14,295,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of PCRX. PNC Financial Services Group Inc. lifted its position in shares of Pacira BioSciences by 15.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,751 shares of the company’s stock worth $85,000 after purchasing an additional 492 shares in the last quarter. Inspire Investing LLC grew its position in Pacira BioSciences by 3.2% in the fourth quarter. Inspire Investing LLC now owns 17,958 shares of the company’s stock valued at $465,000 after purchasing an additional 556 shares in the last quarter. State of Wyoming increased its stake in Pacira BioSciences by 7.0% in the 4th quarter. State of Wyoming now owns 11,155 shares of the company’s stock valued at $289,000 after buying an additional 728 shares during the last quarter. Franklin Resources Inc. increased its stake in Pacira BioSciences by 2.6% in the 4th quarter. Franklin Resources Inc. now owns 33,860 shares of the company’s stock valued at $876,000 after buying an additional 846 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Pacira BioSciences by 10.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,746 shares of the company’s stock worth $268,000 after buying an additional 1,142 shares in the last quarter. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Jonathan Slonin sold 3,040 shares of Pacira BioSciences stock in a transaction on Monday, August 17th. The stock was sold at an average price of $23.23, for a total transaction of $70,619.20. Following the completion of the sale, the insider owned 216,384 shares of the company’s stock, valued at approximately $5,026,600.32. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 dated Thursday, June 11th. The shares were 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 directly owned 62,284 shares of the company’s stock, valued at approximately $1,463,674. The trade was 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.

Analyst Upgrades and Downgrades

PCRX has been the topic of a number of recent research reports. Weiss Ratings raised Pacira BioSciences from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, September 1st. HC Wainwright reaffirmed 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 began coverage on Pacira BioSciences in a report on Monday, August 17th. They issued a “buy” rating and a $30.00 price objective for the company. Royal Bank Of Canada boosted their target price on shares of Pacira BioSciences from $24.00 to $25.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 5th. Finally, Wall Street Zen lowered shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 16th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $30.20.

Pacira BioSciences Price Performance

Shares of NASDAQ PCRX opened at $26.35 on Tuesday. The firm has a market cap of $1.05 billion, a P/E ratio of 75.29 and a beta of 0.26. The company has a current ratio of 5.04, a quick ratio of 3.94 and a debt-to-equity ratio of 0.54. Pacira BioSciences, Inc. has a 1-year low of $18.80 and a 1-year high of $27.66. The business’s 50 day moving average is $25.45 and its 200-day moving average is $24.04.

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