UBS Asset Management Americas Inc. lifted its stake in shares of Pacira Biosciences Inc (NASDAQ:PCRX) by 21.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,545 shares of the company’s stock after buying an additional 7,562 shares during the quarter. UBS Asset Management Americas Inc. owned approximately 0.10% of Pacira Biosciences worth $1,894,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in PCRX. C M Bidwell & Associates Ltd. acquired a new position in Pacira Biosciences in the second quarter valued at approximately $44,000. Tower Research Capital LLC TRC increased its position in shares of Pacira Biosciences by 414.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,436 shares of the company’s stock valued at $63,000 after buying an additional 1,157 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Pacira Biosciences in the first quarter valued at $65,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Pacira Biosciences in the second quarter valued at $71,000. Finally, Convergence Investment Partners LLC acquired a new stake in shares of Pacira Biosciences during the second quarter valued at $174,000. 99.10% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently commented on PCRX shares. Zacks Investment Research raised Pacira Biosciences from a “sell” rating to a “hold” rating and set a $47.00 price objective on the stock in a research note on Friday, August 2nd. Wedbush set a $85.00 price target on Pacira Biosciences and gave the stock a “buy” rating in a research note on Friday, June 28th. Jefferies Financial Group set a $60.00 price target on Pacira Biosciences and gave the stock a “buy” rating in a research note on Tuesday. Stifel Nicolaus set a $42.00 price target on Pacira Biosciences and gave the stock a “hold” rating in a research note on Friday, August 9th. Finally, BidaskClub lowered Pacira Biosciences from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $55.00.
Pacira Biosciences (NASDAQ:PCRX) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.27. The company had revenue of $102.60 million for the quarter, compared to the consensus estimate of $99.92 million. Pacira Biosciences had a return on equity of 8.62% and a net margin of 2.04%. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period last year, the business posted $0.24 EPS. Research analysts anticipate that Pacira Biosciences Inc will post 0.64 EPS for the current year.
In other news, CEO David M. Stack sold 12,849 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $39.15, for a total value of $503,038.35. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kristen Marie Williams sold 6,252 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $39.49, for a total value of $246,891.48. The disclosure for this sale can be found here. Company insiders own 5.80% of the company’s stock.
Pacira Biosciences Company Profile
Pacira BioSciences, Inc provides non-opioid pain management and regenerative health solutions for health care practitioners and their patients in the United States. The company develops products based on its proprietary DepoFoam product delivery technology that encapsulates drugs without altering their molecular structure.
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