Baillie Gifford & Co. Sells 62,492 Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX)

Baillie Gifford & Co. lowered its holdings in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 5.9% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,000,774 shares of the company’s stock after selling 62,492 shares during the period. Baillie Gifford & Co. owned about 2.15% of Pacira BioSciences worth $29,243,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of PCRX. ICA Group Wealth Management LLC acquired a new position in shares of Pacira BioSciences during the 4th quarter worth $30,000. Quadrant Capital Group LLC raised its holdings in shares of Pacira BioSciences by 61.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,324 shares of the company’s stock worth $78,000 after buying an additional 885 shares in the last quarter. Cape Investment Advisory Inc. acquired a new position in Pacira BioSciences in the 4th quarter worth about $97,000. Quest Partners LLC acquired a new position in Pacira BioSciences in the 4th quarter worth about $125,000. Finally, China Universal Asset Management Co. Ltd. increased its holdings in Pacira BioSciences by 353.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,373 shares of the company’s stock worth $181,000 after purchasing an additional 4,188 shares in the last quarter. Institutional investors and hedge funds own 99.73% of the company’s stock.

Pacira BioSciences Stock Down 2.8 %

NASDAQ:PCRX traded down $0.60 on Friday, hitting $21.06. The stock had a trading volume of 1,190,883 shares, compared to its average volume of 1,234,829. The business’s fifty day moving average is $28.42 and its 200 day moving average is $29.60. The company has a market cap of $980.34 million, a PE ratio of 14.73 and a beta of 0.88. The company has a quick ratio of 4.78, a current ratio of 5.81 and a debt-to-equity ratio of 0.57. Pacira BioSciences, Inc. has a 52 week low of $20.52 and a 52 week high of $40.16.

Pacira BioSciences (NASDAQ:PCRX) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.04). Pacira BioSciences had a return on equity of 12.98% and a net margin of 10.34%. The firm had revenue of $167.12 million during the quarter, compared to the consensus estimate of $165.43 million. On average, equities research analysts expect that Pacira BioSciences, Inc. will post 2.13 EPS for the current fiscal year.

Insider Activity

In related news, SVP Lauren Riker sold 3,970 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $28.72, for a total transaction of $114,018.40. Following the completion of the sale, the senior vice president now directly owns 38,075 shares of the company’s stock, valued at $1,093,514. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Lauren Riker sold 3,970 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $28.72, for a total transaction of $114,018.40. Following the completion of the sale, the senior vice president now directly owns 38,075 shares of the company’s stock, valued at $1,093,514. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kristen Williams sold 7,452 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $28.38, for a total value of $211,487.76. Following the completion of the sale, the insider now directly owns 102,912 shares of the company’s stock, valued at $2,920,642.56. The disclosure for this sale can be found here. Insiders have sold 21,150 shares of company stock worth $602,170 over the last 90 days. 6.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PCRX shares. HC Wainwright reaffirmed a “buy” rating and issued a $57.00 target price on shares of Pacira BioSciences in a report on Tuesday. Piper Sandler reaffirmed an “overweight” rating and issued a $42.00 target price on shares of Pacira BioSciences in a report on Wednesday. Barclays cut Pacira BioSciences from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $38.00 to $25.00 in a research note on Wednesday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $43.00 price target on shares of Pacira BioSciences in a research note on Tuesday. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $46.10.

Pacira BioSciences Company Profile

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.