Pacira BioSciences, Inc. (NASDAQ:PCRX) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 288.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 171,377 shares of the company’s stock after purchasing an additional 127,240 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.37% of Pacira BioSciences worth $4,259,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Point72 Asset Management L.P. purchased a new position in shares of Pacira BioSciences during the 4th quarter valued at approximately $20,266,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Pacira BioSciences during the 4th quarter valued at approximately $8,558,000. Balyasny Asset Management L.P. purchased a new position in shares of Pacira BioSciences during the 4th quarter valued at approximately $8,180,000. Nuveen Asset Management LLC lifted its position in shares of Pacira BioSciences by 109.9% during the 4th quarter. Nuveen Asset Management LLC now owns 625,917 shares of the company’s stock valued at $11,792,000 after buying an additional 327,754 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Pacira BioSciences by 48.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 673,289 shares of the company’s stock valued at $16,731,000 after buying an additional 221,196 shares in the last quarter. Institutional investors and hedge funds own 99.73% of the company’s stock.

Pacira BioSciences Trading Up 0.9%

Shares of PCRX stock opened at $25.04 on Thursday. The stock’s fifty day moving average is $23.50 and its two-hundred day moving average is $24.62. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.91 and a current ratio of 2.38. The firm has a market capitalization of $1.13 billion, a P/E ratio of -9.01 and a beta of 0.48. Pacira BioSciences, Inc. has a fifty-two week low of $12.14 and a fifty-two week high of $27.64.

Pacira BioSciences (NASDAQ:PCRX) last issued its earnings results on Tuesday, August 5th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Pacira BioSciences had a positive return on equity of 13.29% and a negative net margin of 18.08%. The business had revenue of $181.10 million during the quarter, compared to the consensus estimate of $183.11 million. During the same period last year, the company earned $0.96 EPS. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. Research analysts expect that Pacira BioSciences, Inc. will post 2.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PCRX shares. Truist Financial upgraded Pacira BioSciences from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Friday, July 25th. Wall Street Zen upgraded Pacira BioSciences from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Finally, Needham & Company LLC decreased their price objective on Pacira BioSciences from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, May 9th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Pacira BioSciences has a consensus rating of “Moderate Buy” and an average target price of $30.83.

Insiders Place Their Bets

In other Pacira BioSciences news, Director Marcelo Bigal sold 4,912 shares of the firm’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $23.67, for a total value of $116,267.04. Following the completion of the sale, the director directly owned 11,393 shares of the company’s stock, valued at $269,672.31. This trade represents a 30.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Lauren Riker sold 5,578 shares of the firm’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $26.21, for a total value of $146,199.38. Following the completion of the sale, the senior vice president directly owned 59,564 shares of the company’s stock, valued at $1,561,172.44. This trade represents a 8.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is owned by company insiders.

Pacira BioSciences Profile

Pacira Biosciences, Inc is a holding company, which engages in the provision of non-opioid pain management and regenerative health solutions to improve patients’ journeys along the neural pain pathway. Its products include EXPAREL, iovera, and DepoFoam. The company was founded in December 2006 and is headquartered in Tampa, FL.