abrdn plc Increases Stock Position in Pacira BioSciences, Inc. (NASDAQ:PCRX)

abrdn plc boosted its holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 14.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 448,691 shares of the company’s stock after buying an additional 56,081 shares during the period. abrdn plc’s holdings in Pacira BioSciences were worth $15,139,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. raised its position in Pacira BioSciences by 96.8% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,185 shares of the company’s stock worth $36,000 after buying an additional 583 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Pacira BioSciences by 310.9% during the third quarter. Nisa Investment Advisors LLC now owns 2,001 shares of the company’s stock valued at $61,000 after purchasing an additional 1,514 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Pacira BioSciences by 63.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,481 shares of the company’s stock valued at $137,000 after purchasing an additional 1,736 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Pacira BioSciences by 9.4% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,103 shares of the company’s stock worth $157,000 after purchasing an additional 438 shares during the last quarter. Finally, Trust Point Inc. bought a new stake in Pacira BioSciences in the 4th quarter worth approximately $245,000. 99.73% of the stock is currently owned by hedge funds and other institutional investors.

Pacira BioSciences Stock Performance

PCRX opened at $25.90 on Thursday. The firm has a market cap of $1.20 billion, a P/E ratio of 31.98 and a beta of 0.76. Pacira BioSciences, Inc. has a 1-year low of $25.74 and a 1-year high of $48.60. The company has a 50 day simple moving average of $28.85 and a two-hundred day simple moving average of $29.71. The company has a debt-to-equity ratio of 0.59, a current ratio of 5.24 and a quick ratio of 4.17.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings results on Thursday, February 29th. The company reported $0.71 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.71. Pacira BioSciences had a return on equity of 12.81% and a net margin of 6.22%. The business had revenue of $181.24 million during the quarter, compared to analyst estimates of $180.60 million. Equities analysts forecast that Pacira BioSciences, Inc. will post 2.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PCRX has been the topic of several research analyst reports. HC Wainwright reissued a “buy” rating and set a $57.00 price target on shares of Pacira BioSciences in a report on Monday, March 4th. JPMorgan Chase & Co. initiated coverage on Pacira BioSciences in a report on Thursday, March 7th. They issued an “overweight” rating and a $45.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $45.00 price target on shares of Pacira BioSciences in a research note on Tuesday, April 9th. Royal Bank of Canada lowered their price objective on shares of Pacira BioSciences from $53.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, March 1st. Finally, Wedbush reissued an “outperform” rating and issued a $57.00 price objective on shares of Pacira BioSciences in a report on Thursday, February 8th. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $49.50.

Insider Buying and Selling

In other news, Director Gary W. Pace sold 90,000 shares of Pacira BioSciences stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $30.60, for a total transaction of $2,754,000.00. Following the sale, the director now owns 22,127 shares in the company, valued at $677,086.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Gary W. Pace sold 1,066 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $29.67, for a total transaction of $31,628.22. Following the completion of the transaction, the director now directly owns 140,384 shares of the company’s stock, valued at $4,165,193.28. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Gary W. Pace sold 90,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $30.60, for a total value of $2,754,000.00. Following the transaction, the director now owns 22,127 shares of the company’s stock, valued at approximately $677,086.20. The disclosure for this sale can be found here. 6.60% of the stock is owned by insiders.

Pacira BioSciences Profile

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.