Mirae Asset Global Investments Co. Ltd. Raises Position in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 5.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,973 shares of the company’s stock after purchasing an additional 1,186 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Pacira BioSciences were worth $741,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Rock Springs Capital Management LP lifted its position in shares of Pacira BioSciences by 2.0% during the 3rd quarter. Rock Springs Capital Management LP now owns 1,055,500 shares of the company’s stock worth $32,383,000 after purchasing an additional 20,500 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Pacira BioSciences by 397,487.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,041,679 shares of the company’s stock worth $35,146,000 after purchasing an additional 1,041,417 shares during the last quarter. Rice Hall James & Associates LLC lifted its position in shares of Pacira BioSciences by 6.8% during the 3rd quarter. Rice Hall James & Associates LLC now owns 968,485 shares of the company’s stock worth $29,713,000 after purchasing an additional 61,680 shares during the last quarter. Rubric Capital Management LP purchased a new stake in shares of Pacira BioSciences during the 3rd quarter worth $14,102,000. Finally, Loomis Sayles & Co. L P lifted its position in shares of Pacira BioSciences by 10.2% during the 3rd quarter. Loomis Sayles & Co. L P now owns 374,980 shares of the company’s stock worth $11,504,000 after purchasing an additional 34,811 shares during the last quarter. 99.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PCRX. Wedbush reissued an “outperform” rating and issued a $57.00 price target on shares of Pacira BioSciences in a research report on Thursday, February 8th. HC Wainwright reissued a “buy” rating and issued a $57.00 price target on shares of Pacira BioSciences in a research report on Monday, March 4th. JPMorgan Chase & Co. began coverage on shares of Pacira BioSciences in a research report on Thursday, March 7th. They issued an “overweight” rating and a $45.00 price target for the company. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price target on shares of Pacira BioSciences in a research report on Tuesday, April 9th. Finally, TheStreet raised shares of Pacira BioSciences from a “d+” rating to a “c” rating in a research report on Thursday, February 29th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Pacira BioSciences currently has a consensus rating of “Buy” and an average target price of $49.50.

Pacira BioSciences Price Performance

Shares of PCRX stock opened at $25.90 on Thursday. The firm has a market cap of $1.20 billion, a P/E ratio of 31.98 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 5.24 and a quick ratio of 4.17. Pacira BioSciences, Inc. has a 1-year low of $25.74 and a 1-year high of $48.60. The firm has a fifty day moving average of $28.85 and a two-hundred day moving average of $29.71.

Pacira BioSciences (NASDAQ:PCRX) last posted its quarterly earnings results on Thursday, February 29th. The company reported $0.71 EPS for the quarter, meeting the consensus estimate of $0.71. Pacira BioSciences had a net margin of 6.22% and a return on equity of 12.81%. The business had revenue of $181.24 million during the quarter, compared to analyst estimates of $180.60 million. As a group, research analysts anticipate that Pacira BioSciences, Inc. will post 2.18 earnings per share for the current fiscal year.

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.