American Century Companies Inc. Increases Holdings in Pacira BioSciences, Inc. $PCRX

American Century Companies Inc. raised its holdings in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 392.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 667,423 shares of the company’s stock after buying an additional 531,831 shares during the quarter. American Century Companies Inc. owned about 1.44% of Pacira BioSciences worth $16,585,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd purchased a new position in Pacira BioSciences during the first quarter worth about $51,000. Persistent Asset Partners Ltd purchased a new position in Pacira BioSciences during the first quarter worth about $223,000. Public Sector Pension Investment Board grew its position in Pacira BioSciences by 62.8% during the first quarter. Public Sector Pension Investment Board now owns 187,974 shares of the company’s stock worth $4,671,000 after buying an additional 72,517 shares in the last quarter. Nuveen LLC purchased a new position in Pacira BioSciences during the first quarter worth about $12,884,000. Finally, Invesco Ltd. grew its position in Pacira BioSciences by 159.9% during the first quarter. Invesco Ltd. now owns 624,865 shares of the company’s stock worth $15,528,000 after buying an additional 384,419 shares in the last quarter. 99.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Pacira BioSciences

In other news, Director Marcelo Bigal sold 4,912 shares of the business’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $23.67, for a total value of $116,267.04. Following the completion of the sale, the director owned 11,393 shares of the company’s stock, valued at approximately $269,672.31. The trade was a 30.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Lauren Riker sold 5,578 shares of the business’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $26.21, for a total value of $146,199.38. Following the completion of the sale, the senior vice president directly owned 59,564 shares of the company’s stock, valued at approximately $1,561,172.44. This trade represents a 8.56% decrease in their position. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

Pacira BioSciences Trading Up 1.8%

Shares of PCRX stock opened at $25.84 on Monday. The company has a quick ratio of 1.91, a current ratio of 2.38 and a debt-to-equity ratio of 0.50. The business has a 50-day moving average price of $23.50 and a two-hundred day moving average price of $24.55. Pacira BioSciences, Inc. has a 12-month low of $12.61 and a 12-month high of $27.64. The firm has a market cap of $1.16 billion, a P/E ratio of -9.29 and a beta of 0.48.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.01. Pacira BioSciences had a positive return on equity of 13.29% and a negative net margin of 18.08%.The firm had revenue of $181.10 million during the quarter, compared to analyst estimates of $183.11 million. During the same quarter in the previous year, the company posted $0.96 earnings per share. The company’s revenue was up 1.7% compared to the same quarter last year. Pacira BioSciences has set its FY 2025 guidance at EPS. Equities analysts anticipate that Pacira BioSciences, Inc. will post 2.41 EPS for the current fiscal year.

Analyst Ratings Changes

PCRX has been the subject of several recent analyst reports. Truist Financial upgraded Pacira BioSciences from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Friday, July 25th. Zacks Research upgraded Pacira BioSciences from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 14th. Needham & Company LLC reduced their target price on Pacira BioSciences from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Finally, Wall Street Zen raised Pacira BioSciences from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.83.

About Pacira BioSciences

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.