PDT Partners LLC purchased a new stake in Pacira BioSciences, Inc. (NASDAQ:PCRX – Free Report) during the second quarter, HoldingsChannel.com reports. The fund purchased 132,368 shares of the company’s stock, valued at approximately $3,358,000.
Other institutional investors also recently bought and sold shares of the company. Balyasny Asset Management L.P. boosted its position in shares of Pacira BioSciences by 36.1% during the 2nd quarter. Balyasny Asset Management L.P. now owns 2,130,733 shares of the company’s stock worth $50,925,000 after acquiring an additional 565,288 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Pacira BioSciences by 49.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company’s stock worth $27,454,000 after acquiring an additional 367,869 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new stake in shares of Pacira BioSciences during the 4th quarter worth about $7,976,000. Bank of New York Mellon Corp acquired a new stake in shares of Pacira BioSciences during the 2nd quarter worth about $7,532,000. Finally, LSV Asset Management lifted its stake in Pacira BioSciences by 179.8% during the fourth quarter. LSV Asset Management now owns 319,800 shares of the company’s stock worth $8,276,000 after purchasing an additional 205,500 shares during the last quarter. 99.73% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on PCRX shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Pacira BioSciences in a report on Monday, August 17th. Needham & Company LLC boosted their price objective on shares of Pacira BioSciences from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Truist Financial initiated coverage on shares of Pacira BioSciences in a research report on Monday, August 17th. They issued a “buy” rating and a $30.00 target price on the stock. Wall Street Zen lowered shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 16th. Finally, HC Wainwright restated a “buy” rating and issued a $38.00 price objective on shares of Pacira BioSciences in a research note on Wednesday, July 1st. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $30.20.
Insider Activity at Pacira BioSciences
In other news, SVP Lauren Riker sold 6,115 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $23.50, for a total value of $143,702.50. Following the transaction, the senior vice president owned 62,284 shares of the company’s stock, valued at approximately $1,463,674. The trade was a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Slonin sold 3,040 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $23.23, for a total value of $70,619.20. Following the sale, the insider directly owned 216,384 shares of the company’s stock, valued at approximately $5,026,600.32. This represents a 1.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 6.40% of the company’s stock.
Pacira BioSciences Trading Up 1.4%
NASDAQ PCRX opened at $25.90 on Thursday. The firm’s fifty day moving average is $25.05 and its two-hundred day moving average is $23.78. Pacira BioSciences, Inc. has a one year low of $18.80 and a one year high of $27.66. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.94 and a current ratio of 5.04. The firm has a market cap of $1.03 billion, a PE ratio of 74.00 and a beta of 0.27.
Pacira BioSciences (NASDAQ:PCRX – Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.08. Pacira BioSciences had a net margin of 1.96% and a return on equity of 9.68%. The business had revenue of $192.40 million during the quarter, compared to the consensus estimate of $191.06 million. During the same quarter in the prior year, the firm earned $0.74 earnings per share. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. Analysts expect that Pacira BioSciences, Inc. will post 1.98 earnings per share for the current year.
Pacira BioSciences Profile
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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