Pacira BioSciences, Inc. $PCRX Stock Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its holdings in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 84.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 15,855 shares of the company’s stock after selling 85,574 shares during the period. Assenagon Asset Management S.A.’s holdings in Pacira BioSciences were worth $397,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PCRX. Global Retirement Partners LLC purchased a new position in shares of Pacira BioSciences in the second quarter valued at $51,000. Meeder Asset Management Inc. purchased a new stake in Pacira BioSciences in the first quarter valued at approximately $46,000. State of Wyoming acquired a new stake in Pacira BioSciences during the second quarter worth about $78,000. PNC Financial Services Group Inc. raised its holdings in shares of Pacira BioSciences by 15.1% in the 1st 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 during the period. Finally, Keating Financial Advisory Services Inc. purchased a new position in shares of Pacira BioSciences in the 2nd quarter worth about $110,000. Institutional investors and hedge funds own 99.73% of the company’s stock.

Insider Buying and Selling

In other news, SVP Lauren Riker sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $36.32, for a total value of $217,920.00. Following the completion of the sale, the senior vice president directly owned 62,284 shares of the company’s stock, valued at approximately $2,262,154.88. This represents a 8.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Slonin sold 3,040 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $5,026,600.32. This trade represents a 1.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 6.40% of the company’s stock.

Pacira BioSciences Stock Performance

PCRX opened at $36.42 on Friday. The business’s 50 day moving average is $27.86 and its 200-day moving average is $25.53. 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 $1.45 billion, a PE ratio of 104.06 and a beta of 0.25. Pacira BioSciences, Inc. has a twelve month low of $18.80 and a twelve month high of $36.67.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. The company had revenue of $192.40 million for the quarter, compared to analyst estimates of $191.06 million. Pacira BioSciences had a return on equity of 9.68% and a net margin of 1.96%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the company earned $0.74 earnings per share. On average, analysts predict that Pacira BioSciences, Inc. will post 1.86 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Needham & Company LLC cut Pacira BioSciences from a “buy” rating to a “hold” rating in a research note on Thursday, October 8th. HC Wainwright lowered Pacira BioSciences from a “buy” rating to a “hold” rating and lowered their target price for the company from $38.00 to $36.50 in a research note on Friday, October 9th. Wall Street Zen upgraded shares of Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 26th. Leerink Partners started coverage on shares of Pacira BioSciences in a report on Wednesday, September 9th. They issued a “market perform” rating and a $28.00 price target on the stock. Finally, Zacks Research cut Pacira BioSciences from a “hold” rating to a “strong sell” rating in a research note on Monday, October 5th. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $33.33.

Pacira BioSciences Company Profile

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid pain-management and regenerative health solutions. The company’s products are designed to address acute postsurgical pain and osteoarthritis-related pain while supporting efforts to reduce reliance on opioid medications.

Pacira’s lead product is EXPAREL, an extended-release formulation of bupivacaine administered by injection for postsurgical pain management. The company also markets ZILRETTA, an extended-release corticosteroid injection indicated for osteoarthritis knee pain, and iovera°, a cryoanalgesia system that uses controlled cooling to temporarily block peripheral nerves and relieve pain.

Formerly known as Pacira Pharmaceuticals, the company adopted the Pacira BioSciences name to reflect its broader focus on innovative pain and regenerative-health therapies.