Assenagon Asset Management S.A. Raises Position in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Assenagon Asset Management S.A. lifted its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 314.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 553,114 shares of the company’s stock after acquiring an additional 419,656 shares during the quarter. Assenagon Asset Management S.A. owned 1.20% of Pacira BioSciences worth $8,324,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of PCRX. Texas Permanent School Fund Corp raised its position in Pacira BioSciences by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 40,642 shares of the company’s stock valued at $1,188,000 after purchasing an additional 543 shares in the last quarter. Duality Advisers LP lifted its stake in Pacira BioSciences by 1.8% in the first quarter. Duality Advisers LP now owns 34,784 shares of the company’s stock worth $1,016,000 after acquiring an additional 605 shares during the last quarter. Inspire Investing LLC grew its holdings in Pacira BioSciences by 5.9% during the 1st quarter. Inspire Investing LLC now owns 12,131 shares of the company’s stock worth $354,000 after acquiring an additional 675 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Pacira BioSciences by 8.0% in the 1st quarter. ProShare Advisors LLC now owns 12,461 shares of the company’s stock valued at $364,000 after purchasing an additional 924 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Pacira BioSciences by 229.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,338 shares of the company’s stock valued at $38,000 after purchasing an additional 932 shares in the last quarter. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PCRX has been the subject of a number of analyst reports. Royal Bank of Canada boosted their target price on shares of Pacira BioSciences from $14.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Friday, October 4th. HC Wainwright dropped their price objective on Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating on the stock in a report on Monday, August 12th. StockNews.com cut Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Jefferies Financial Group upped their price target on Pacira BioSciences from $15.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, Needham & Company LLC cut their price objective on shares of Pacira BioSciences from $43.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Pacira BioSciences has a consensus rating of “Hold” and a consensus target price of $24.20.

Pacira BioSciences Stock Performance

Shares of Pacira BioSciences stock opened at $17.13 on Tuesday. The stock has a market capitalization of $797.33 million, a price-to-earnings ratio of 11.98 and a beta of 0.84. The firm’s fifty day simple moving average is $15.10 and its 200-day simple moving average is $21.60. The company has a debt-to-equity ratio of 0.67, a current ratio of 6.82 and a quick ratio of 5.70. Pacira BioSciences, Inc. has a 12 month low of $11.16 and a 12 month high of $35.95.

Pacira BioSciences (NASDAQ:PCRX) last announced its earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.11. Pacira BioSciences had a net margin of 9.21% and a return on equity of 13.22%. The business had revenue of $178.02 million during the quarter, compared to the consensus estimate of $173.31 million. As a group, equities analysts forecast that Pacira BioSciences, Inc. will post 2.2 earnings per share for the current year.

Insider Buying and Selling at Pacira BioSciences

In related news, CEO Frank D. Lee bought 8,264 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $12.10 per share, with a total value of $99,994.40. Following the completion of the acquisition, the chief executive officer now owns 107,784 shares in the company, valued at approximately $1,304,186.40. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased a total of 11,176 shares of company stock valued at $136,240 in the last ninety days. Insiders own 6.40% of the company’s stock.

About Pacira BioSciences

Pacira BioSciences, Inc engages in the development, manufacture, marketing, distribution, and sale of non-opioid pain management and regenerative health solutions to healthcare practitioners in the United States. The company offers EXPAREL, a bupivacaine liposome injectable suspension; ZILRETTA, a triamcinolone acetonide extended-release injectable suspension; and iovera system, a non-opioid handheld cryoanalgesia device used to produce controlled doses of cold temperature to targeted nerves.