Bank of New York Mellon Corp Decreases Stock Position in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Bank of New York Mellon Corp lowered its stake in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 2.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 386,149 shares of the company’s stock after selling 10,250 shares during the quarter. Bank of New York Mellon Corp owned about 0.83% of Pacira BioSciences worth $9,596,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Sterling Capital Management LLC grew its stake in Pacira BioSciences by 779.4% in the 4th quarter. Sterling Capital Management LLC now owns 1,363 shares of the company’s stock worth $26,000 after acquiring an additional 1,208 shares in the last quarter. Ancora Advisors LLC purchased a new stake in Pacira BioSciences during the fourth quarter valued at approximately $26,000. Wealthquest Corp purchased a new stake in Pacira BioSciences during the first quarter valued at approximately $59,000. PNC Financial Services Group Inc. lifted its position in Pacira BioSciences by 16.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,597 shares of the company’s stock valued at $68,000 after acquiring an additional 513 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Pacira BioSciences by 112.8% during the first quarter. GAMMA Investing LLC now owns 3,694 shares of the company’s stock valued at $92,000 after acquiring an additional 1,958 shares during the last quarter. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Insider Buying and Selling at Pacira BioSciences

In related news, SVP Lauren Riker sold 5,578 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $26.21, for a total value of $146,199.38. Following the transaction, the senior vice president owned 59,564 shares in the company, valued at approximately $1,561,172.44. This trade represents a 8.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 6.40% of the stock is currently owned by insiders.

Pacira BioSciences Price Performance

NASDAQ:PCRX opened at $22.17 on Tuesday. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -9.72 and a beta of 0.48. The company has a current ratio of 2.41, a quick ratio of 1.99 and a debt-to-equity ratio of 0.48. The company’s 50-day moving average is $24.54 and its two-hundred day moving average is $24.44. Pacira BioSciences, Inc. has a 12-month low of $11.16 and a 12-month high of $27.64.

Wall Street Analyst Weigh In

Several research firms recently commented on PCRX. Needham & Company LLC dropped their price target on shares of Pacira BioSciences from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Wall Street Zen raised shares of Pacira BioSciences from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Finally, HC Wainwright lifted their target price on shares of Pacira BioSciences from $48.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $26.44.

Pacira BioSciences Company Profile

Pacira Biosciences, Inc is a holding company, which engages in the provision of non-opioid pain management and regenerative health solutions to improve patients’ journeys along the neural pain pathway. Its products include EXPAREL, iovera, and DepoFoam. The company was founded in December 2006 and is headquartered in Tampa, FL.