Renaissance Technologies LLC trimmed its position in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX – Free Report) by 3.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,825,501 shares of the company’s stock after selling 58,500 shares during the quarter. Renaissance Technologies LLC’s holdings in Pacira BioSciences were worth $41,256,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its position in shares of Pacira BioSciences by 5,900.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,500 shares of the company’s stock valued at $39,000 after buying an additional 1,475 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Pacira BioSciences during the fourth quarter worth about $48,000. Eurizon Capital SGR S.p.A. bought a new position in Pacira BioSciences during the fourth quarter worth about $51,000. Global Retirement Partners LLC grew its stake in Pacira BioSciences by 479.4% in the fourth quarter. Global Retirement Partners LLC now owns 2,028 shares of the company’s stock valued at $52,000 after acquiring an additional 1,678 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in Pacira BioSciences in the first quarter valued at about $46,000. Institutional investors and hedge funds own 99.73% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have issued reports on PCRX shares. Weiss Ratings upgraded Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Needham & Company LLC boosted their price objective on Pacira BioSciences from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Royal Bank Of Canada boosted their price objective on Pacira BioSciences from $22.00 to $24.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. Zacks Research raised Pacira BioSciences from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, HC Wainwright restated a “buy” rating and set a $38.00 target price on shares of Pacira BioSciences in a report on Wednesday, July 1st. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $29.40.
Pacira BioSciences Trading Up 2.3%
PCRX opened at $26.47 on Tuesday. The stock has a market capitalization of $1.04 billion, a P/E ratio of 220.60 and a beta of 0.27. The company has a current ratio of 4.73, a quick ratio of 3.35 and a debt-to-equity ratio of 0.56. Pacira BioSciences, Inc. has a 12 month low of $18.80 and a 12 month high of $27.64. The firm’s fifty day simple moving average is $24.17 and its 200 day simple moving average is $23.19.
Pacira BioSciences (NASDAQ:PCRX – Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). Pacira BioSciences had a return on equity of 10.24% and a net margin of 0.70%.The firm had revenue of $177.38 million for the quarter, compared to the consensus estimate of $171.80 million. During the same quarter last year, the company posted $0.65 EPS. Pacira BioSciences’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, research analysts anticipate that Pacira BioSciences, Inc. will post 1.94 EPS for the current fiscal year.
Insider Buying and Selling at Pacira BioSciences
In other news, SVP Lauren Riker sold 6,115 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $23.50, for a total transaction of $143,702.50. Following the completion of the transaction, the senior vice president directly owned 62,284 shares of the company’s stock, valued at $1,463,674. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.40% of the stock is owned by corporate insiders.
About Pacira BioSciences
Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid, non-addictive pain management and regenerative health solutions. The company’s flagship product, EXPAREL, is a bupivacaine liposome injectable suspension designed to provide long-lasting postsurgical analgesia. EXPAREL is used by clinicians across a broad range of surgical procedures to reduce reliance on opioid medications and to help manage acute postoperative pain.
In addition to its marketed offering, Pacira maintains an active pipeline of investigational products aimed at addressing unmet needs in pain management and inflammation control.
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