Bank of New York Mellon Corp Trims Stock Position in Pacira BioSciences, Inc. $PCRX

Bank of New York Mellon Corp lessened its stake in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 8.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 302,629 shares of the company’s stock after selling 26,987 shares during the period. Bank of New York Mellon Corp’s holdings in Pacira BioSciences were worth $6,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in PCRX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Pacira BioSciences by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,242 shares of the company’s stock worth $677,000 after purchasing an additional 1,165 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Pacira BioSciences by 49.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company’s stock valued at $27,454,000 after purchasing an additional 367,869 shares during the period. Strs Ohio purchased a new position in Pacira BioSciences during the 1st quarter worth approximately $75,000. Marshall Wace LLP acquired a new position in Pacira BioSciences during the second quarter worth approximately $4,550,000. Finally, Sei Investments Co. increased its position in Pacira BioSciences by 35.3% during the second quarter. Sei Investments Co. now owns 25,357 shares of the company’s stock worth $606,000 after buying an additional 6,609 shares during the period. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Stock Performance

Shares of PCRX opened at $26.92 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.35 and a current ratio of 4.73. The stock has a market capitalization of $1.06 billion, a P/E ratio of 224.35 and a beta of 0.27. The company’s fifty day moving average is $24.53 and its two-hundred day moving average is $23.28. Pacira BioSciences, Inc. has a 1 year low of $18.80 and a 1 year high of $27.64.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PCRX shares. Weiss Ratings upgraded Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 target price on shares of Pacira BioSciences in a report on Wednesday, July 1st. Royal Bank Of Canada upped their price target on shares of Pacira BioSciences from $22.00 to $24.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. Needham & Company LLC increased their price target on shares of Pacira BioSciences from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Finally, Zacks Research raised shares of Pacira BioSciences from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $29.40.

Insider Buying and Selling at Pacira BioSciences

In other news, SVP Lauren Riker sold 6,115 shares of Pacira BioSciences stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $23.50, for a total value of $143,702.50. Following the sale, the senior vice president owned 62,284 shares of the company’s stock, valued at $1,463,674. The trade was a 8.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.40% of the stock is currently owned by insiders.

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.