abrdn plc Buys 56,081 Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX)

abrdn plc increased its position in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 14.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 448,691 shares of the company’s stock after buying an additional 56,081 shares during the period. abrdn plc owned 0.97% of Pacira BioSciences worth $15,139,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PCRX. Cornercap Investment Counsel Inc. increased its holdings in shares of Pacira BioSciences by 14.1% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 35,375 shares of the company’s stock valued at $1,194,000 after acquiring an additional 4,368 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in Pacira BioSciences during the 4th quarter valued at $783,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Pacira BioSciences by 5.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,973 shares of the company’s stock worth $741,000 after buying an additional 1,186 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Pacira BioSciences by 353.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,373 shares of the company’s stock valued at $181,000 after buying an additional 4,188 shares in the last quarter. Finally, Trust Point Inc. acquired a new position in shares of Pacira BioSciences during the fourth quarter valued at about $245,000. 99.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and issued a $57.00 price target on shares of Pacira BioSciences in a research report on Thursday, February 8th. JPMorgan Chase & Co. initiated coverage on Pacira BioSciences in a research report on Thursday, March 7th. They set an “overweight” rating and a $45.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $45.00 price objective on shares of Pacira BioSciences in a research note on Tuesday, April 9th. Royal Bank of Canada lowered their target price on shares of Pacira BioSciences from $53.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, March 1st. Finally, TheStreet raised shares of Pacira BioSciences from a “d+” rating to a “c” rating in a research report on Thursday, February 29th. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Pacira BioSciences presently has an average rating of “Buy” and an average target price of $49.50.

Pacira BioSciences Price Performance

Pacira BioSciences stock opened at $25.90 on Thursday. The business’s 50 day simple moving average is $28.85 and its 200 day simple moving average is $29.71. Pacira BioSciences, Inc. has a 12 month low of $25.74 and a 12 month high of $48.60. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 31.98 and a beta of 0.76. The company has a current ratio of 5.24, a quick ratio of 4.17 and a debt-to-equity ratio of 0.59.

Pacira BioSciences (NASDAQ:PCRX) last issued its earnings results on Thursday, February 29th. The company reported $0.71 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.71. Pacira BioSciences had a net margin of 6.22% and a return on equity of 12.81%. The firm had revenue of $181.24 million during the quarter, compared to analyst estimates of $180.60 million. Sell-side analysts forecast that Pacira BioSciences, Inc. will post 2.18 EPS for the current year.

Insider Buying and Selling at Pacira BioSciences

In other news, Director Gary W. Pace sold 1,066 shares of Pacira BioSciences stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $29.67, for a total value of $31,628.22. Following the completion of the transaction, the director now directly owns 140,384 shares in the company, valued at $4,165,193.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Pacira BioSciences news, Director Gary W. Pace sold 1,066 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $29.67, for a total value of $31,628.22. Following the completion of the transaction, the director now owns 140,384 shares in the company, valued at approximately $4,165,193.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gary W. Pace sold 90,000 shares of Pacira BioSciences stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $30.60, for a total value of $2,754,000.00. Following the transaction, the director now directly owns 22,127 shares of the company’s stock, valued at approximately $677,086.20. The disclosure for this sale can be found here. Insiders own 6.60% of the company’s stock.

Pacira BioSciences 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.