Envestnet Asset Management Inc. Cuts Stock Holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Envestnet Asset Management Inc. trimmed its holdings in shares of Pacira BioSciences, Inc. (NASDAQ:PCRXGet Rating) by 3.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 25,922 shares of the company’s stock after selling 992 shares during the period. Envestnet Asset Management Inc.’s holdings in Pacira BioSciences were worth $1,511,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PCRX. Mutual of America Capital Management LLC boosted its position in Pacira BioSciences by 5.5% during the first quarter. Mutual of America Capital Management LLC now owns 6,419 shares of the company’s stock valued at $490,000 after buying an additional 333 shares during the period. FinTrust Capital Advisors LLC boosted its position in Pacira BioSciences by 489.8% during the first quarter. FinTrust Capital Advisors LLC now owns 2,318 shares of the company’s stock valued at $176,000 after buying an additional 1,925 shares during the period. Mount Yale Investment Advisors LLC purchased a new stake in shares of Pacira BioSciences during the first quarter worth about $278,000. HGK Asset Management Inc. boosted its holdings in shares of Pacira BioSciences by 4.8% during the first quarter. HGK Asset Management Inc. now owns 10,232 shares of the company’s stock worth $781,000 after purchasing an additional 464 shares during the period. Finally, Stephens Inc. AR boosted its holdings in shares of Pacira BioSciences by 27.9% during the first quarter. Stephens Inc. AR now owns 29,138 shares of the company’s stock worth $793,000 after purchasing an additional 6,352 shares during the period.

Insider Activity

In other news, insider Max Reinhardt sold 1,380 shares of the stock in a transaction that occurred on Friday, October 7th. The shares were sold at an average price of $58.00, for a total transaction of $80,040.00. Following the sale, the insider now owns 31,378 shares in the company, valued at $1,819,924. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 6.10% of the company’s stock.

Pacira BioSciences Price Performance

Shares of NASDAQ PCRX opened at $49.04 on Monday. Pacira BioSciences, Inc. has a fifty-two week low of $46.03 and a fifty-two week high of $82.16. The company has a 50 day simple moving average of $52.98 and a two-hundred day simple moving average of $55.97. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 119.61 and a beta of 0.78. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.32 and a current ratio of 4.06.

Pacira BioSciences (NASDAQ:PCRXGet Rating) last announced its earnings results on Thursday, November 3rd. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. Pacira BioSciences had a net margin of 3.19% and a return on equity of 12.34%. The business had revenue of $167.47 million during the quarter, compared to the consensus estimate of $167.30 million. Analysts expect that Pacira BioSciences, Inc. will post 2.08 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on PCRX shares. Wedbush reiterated an “outperform” rating and set a $94.00 target price on shares of Pacira BioSciences in a report on Wednesday, September 21st. BMO Capital Markets dropped their target price on shares of Pacira BioSciences from $66.00 to $60.00 and set a “market perform” rating for the company in a report on Monday, November 7th. TheStreet lowered shares of Pacira BioSciences from a “b-” rating to a “c+” rating in a report on Friday, October 28th. HC Wainwright dropped their target price on shares of Pacira BioSciences from $83.00 to $76.00 and set a “buy” rating for the company in a report on Friday, November 4th. Finally, Needham & Company LLC dropped their target price on shares of Pacira BioSciences from $76.00 to $74.00 and set a “buy” rating for the company in a report on Thursday, November 3rd. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Pacira BioSciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.33.

About Pacira BioSciences

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Pacira BioSciences, Inc provides non-opioid pain management and regenerative health solutions for healthcare practitioners and their patients 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 only to targeted nerves.

Further Reading

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Institutional Ownership by Quarter for Pacira BioSciences (NASDAQ:PCRX)

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