Pacira BioSciences, Inc. $PCRX Position Reduced by Simplify Asset Management Inc.

Simplify Asset Management Inc. reduced its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 27.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,653 shares of the company’s stock after selling 23,608 shares during the period. Simplify Asset Management Inc. owned about 0.15% of Pacira BioSciences worth $1,416,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Balyasny Asset Management L.P. raised its stake in shares of Pacira BioSciences by 36.1% in the 2nd 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 in the last quarter. Goldman Sachs Group Inc. grew its stake in Pacira BioSciences by 49.9% in the first 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 in the last quarter. Hillsdale Investment Management Inc. acquired a new position in Pacira BioSciences in the fourth quarter worth about $7,976,000. LSV Asset Management increased its holdings in Pacira BioSciences by 179.8% in the fourth quarter. LSV Asset Management now owns 319,800 shares of the company’s stock valued at $8,276,000 after buying an additional 205,500 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Pacira BioSciences by 87.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 435,143 shares of the company’s stock valued at $11,262,000 after buying an additional 202,773 shares during the last quarter. Institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Price Performance

Shares of Pacira BioSciences stock opened at $25.39 on Friday. The stock has a market capitalization of $999.10 million, a price-to-earnings ratio of 211.60 and a beta of 0.27. Pacira BioSciences, Inc. has a twelve month low of $18.80 and a twelve month high of $27.64. The company has a current ratio of 4.73, a quick ratio of 3.35 and a debt-to-equity ratio of 0.56. The business’s 50 day simple moving average is $23.65 and its 200-day simple moving average is $23.24.

Pacira BioSciences (NASDAQ:PCRX) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). The company had revenue of $177.38 million for the quarter, compared to analyst estimates of $171.80 million. Pacira BioSciences had a net margin of 0.70% and a return on equity of 10.24%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.65 EPS. Equities research analysts forecast that Pacira BioSciences, Inc. will post 1.94 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Zacks Research upgraded Pacira BioSciences from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Royal Bank Of Canada lifted their target price on Pacira BioSciences from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Weiss Ratings upgraded Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Needham & Company LLC upped their price target on Pacira BioSciences from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, Barclays reduced their price objective on Pacira BioSciences from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 26th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $29.40.

Insider Buying and Selling at Pacira BioSciences

In other news, CFO Shawn Cross sold 12,941 shares of the company’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $25.16, for a total transaction of $325,595.56. Following the completion of the transaction, the chief financial officer owned 105,341 shares in the company, valued at approximately $2,650,379.56. This represents a 10.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Lauren Riker sold 6,115 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $23.50, for a total transaction of $143,702.50. Following the completion of the sale, the senior vice president directly owned 62,284 shares in the company, valued at approximately $1,463,674. This trade represents a 8.94% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 31,115 shares of company stock valued at $771,896. Corporate insiders own 6.40% of the company’s stock.

About Pacira BioSciences

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.