Allspring Global Investments Holdings LLC Boosts Stake in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Allspring Global Investments Holdings LLC increased its holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 1,398.8% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 100,181 shares of the company's stock after buying an additional 93,497 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.22% of Pacira BioSciences worth $1,508,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Jane Street Group LLC lifted its holdings in Pacira BioSciences by 1,780.2% in the 1st quarter. Jane Street Group LLC now owns 187,531 shares of the company's stock worth $5,480,000 after purchasing an additional 177,557 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Pacira BioSciences by 12.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,828,065 shares of the company's stock worth $52,300,000 after acquiring an additional 198,936 shares during the last quarter. Legato Capital Management LLC increased its stake in Pacira BioSciences by 74.0% in the 2nd quarter. Legato Capital Management LLC now owns 52,913 shares of the company's stock worth $1,514,000 after acquiring an additional 22,497 shares during the last quarter. WINTON GROUP Ltd bought a new stake in Pacira BioSciences in the 2nd quarter worth approximately $2,726,000. Finally, QRG Capital Management Inc. increased its position in shares of Pacira BioSciences by 42.0% during the 1st quarter. QRG Capital Management Inc. now owns 22,708 shares of the company's stock valued at $664,000 after purchasing an additional 6,721 shares during the last quarter. 99.73% of the stock is currently owned by institutional investors.

Pacira BioSciences Price Performance

Shares of PCRX stock traded down $0.27 on Thursday, reaching $16.60. 573,104 shares of the company were exchanged, compared to its average volume of 869,920. The company has a market cap of $772.66 million, a price-to-earnings ratio of 11.61 and a beta of 0.84. The business has a 50-day moving average price of $15.34 and a 200 day moving average price of $21.39. The company has a debt-to-equity ratio of 0.67, a quick ratio of 5.70 and a current ratio of 6.82. Pacira BioSciences, Inc. has a 1 year low of $11.16 and a 1 year high of $35.95.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.11. Pacira BioSciences had a net margin of 9.21% and a return on equity of 13.22%. The company had revenue of $178.02 million during the quarter, compared to analysts' expectations of $173.31 million. Equities research analysts forecast that Pacira BioSciences, Inc. will post 2.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PCRX. Piper Sandler downgraded Pacira BioSciences from an "overweight" rating to a "neutral" rating and cut their target price for the company from $42.00 to $11.00 in a research report on Monday, August 12th. Needham & Company LLC reduced their price objective on shares of Pacira BioSciences from $43.00 to $22.00 and set a "buy" rating for the company in a research note on Monday, August 12th. Royal Bank of Canada lifted their price target on shares of Pacira BioSciences from $14.00 to $15.00 and gave the stock a "sector perform" rating in a report on Friday, October 4th. HC Wainwright lowered their price objective on shares of Pacira BioSciences from $57.00 to $39.00 and set a "buy" rating for the company in a research note on Monday, August 12th. Finally, StockNews.com downgraded shares of Pacira BioSciences from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $24.20.

Insider Activity at Pacira BioSciences

In other news, CEO Frank D. Lee bought 8,264 shares of the firm's stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $12.10 per share, for a total transaction of $99,994.40. Following the acquisition, the chief executive officer now directly owns 107,784 shares of the company's stock, valued at $1,304,186.40. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders acquired 11,176 shares of company stock valued at $136,240. Corporate insiders own 6.40% of the company's stock.

About Pacira BioSciences

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.