Pacira BioSciences, Inc. $PCRX Shares Purchased by American Century Companies Inc.

American Century Companies Inc. increased its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 16.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,378,513 shares of the company’s stock after buying an additional 196,000 shares during the quarter. American Century Companies Inc. owned about 3.20% of Pacira BioSciences worth $35,524,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PCRX. Balyasny Asset Management L.P. raised its position in Pacira BioSciences by 36.1% in the second quarter. Balyasny Asset Management L.P. now owns 2,130,733 shares of the company’s stock valued at $50,925,000 after purchasing an additional 565,288 shares during the period. EcoR1 Capital LLC purchased a new position in shares of Pacira BioSciences during the 2nd quarter worth $10,934,000. Goldman Sachs Group Inc. grew its holdings in shares of Pacira BioSciences by 49.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company’s stock worth $27,454,000 after purchasing an additional 367,869 shares during the period. Marshall Wace LLP acquired a new stake in shares of Pacira BioSciences during the 2nd quarter worth about $4,550,000. Finally, Natixis increased its position in shares of Pacira BioSciences by 302,500.0% during the 2nd quarter. Natixis now owns 151,300 shares of the company’s stock worth $3,616,000 after purchasing an additional 151,250 shares during the last quarter. Institutional investors and hedge funds own 99.73% of the company’s stock.

Insider Activity at Pacira BioSciences

In other news, SVP Lauren Riker sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $20.81, for a total value of $83,240.00. Following the completion of the transaction, the senior vice president owned 52,313 shares of the company’s stock, valued at approximately $1,088,633.53. This trade represents a 7.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Shawn Cross sold 15,896 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $25.03, for a total transaction of $397,876.88. Following the sale, the chief financial officer directly owned 56,250 shares in the company, valued at approximately $1,407,937.50. The trade was a 22.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 30,416 shares of company stock valued at $744,315. Insiders own 6.40% of the company’s stock.

Pacira BioSciences Price Performance

PCRX opened at $22.00 on Friday. The stock’s 50-day moving average price is $22.27 and its 200 day moving average price is $23.75. Pacira BioSciences, Inc. has a 12-month low of $18.80 and a 12-month high of $27.64. The company has a current ratio of 4.54, a quick ratio of 3.28 and a debt-to-equity ratio of 0.54. The firm has a market cap of $890.78 million, a price-to-earnings ratio of 146.67 and a beta of 0.21.

Pacira BioSciences (NASDAQ:PCRX) last announced its earnings results on Thursday, February 26th. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.28). The firm had revenue of $196.87 million for the quarter, compared to analysts’ expectations of $201.93 million. Pacira BioSciences had a net margin of 0.97% and a return on equity of 10.39%. The business’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.91 earnings per share. As a group, sell-side analysts expect that Pacira BioSciences, Inc. will post 2.41 earnings per share for the current year.

Wall Street Analyst Weigh In

PCRX has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Pacira BioSciences in a research report on Monday, December 29th. Needham & Company LLC reissued a “buy” rating and issued a $30.00 price target on shares of Pacira BioSciences in a research note on Friday, January 9th. Barclays started coverage on shares of Pacira BioSciences in a report on Tuesday, December 9th. They issued an “equal weight” rating and a $27.00 price objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $38.00 price objective on shares of Pacira BioSciences in a research report on Friday, January 9th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $30.75.

Pacira BioSciences Profile

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid, non-addictive pain management and regenerative health solutions. The company’s flagship product, EXPAREL, is a bupivacaine liposome injectable suspension designed to provide long-lasting postsurgical analgesia. EXPAREL is used by clinicians across a broad range of surgical procedures to reduce reliance on opioid medications and to help manage acute postoperative pain.

In addition to its marketed offering, Pacira maintains an active pipeline of investigational products aimed at addressing unmet needs in pain management and inflammation control.