Pacer Advisors Inc. Grows Position in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Pacer Advisors Inc. raised its position in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 37.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,162,787 shares of the company’s stock after buying an additional 590,082 shares during the quarter. Pacer Advisors Inc. owned approximately 4.65% of Pacira BioSciences worth $61,877,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. ICA Group Wealth Management LLC acquired a new position in shares of Pacira BioSciences in the 4th quarter valued at $30,000. GAMMA Investing LLC increased its stake in Pacira BioSciences by 229.6% in the second quarter. GAMMA Investing LLC now owns 1,338 shares of the company’s stock valued at $38,000 after purchasing an additional 932 shares during the period. Park Place Capital Corp acquired a new position in Pacira BioSciences in the second quarter valued at $46,000. Innealta Capital LLC purchased a new stake in shares of Pacira BioSciences in the second quarter valued at about $50,000. Finally, nVerses Capital LLC boosted its stake in shares of Pacira BioSciences by 800.0% during the second quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $51,000 after buying an additional 1,600 shares during the period. 99.73% of the stock is owned by institutional investors and hedge funds.

Pacira BioSciences Stock Down 1.1 %

Shares of NASDAQ PCRX opened at $14.53 on Friday. The company has a quick ratio of 5.70, a current ratio of 6.82 and a debt-to-equity ratio of 0.67. The firm has a 50-day moving average price of $16.48 and a 200 day moving average price of $23.99. Pacira BioSciences, Inc. has a 52 week low of $11.16 and a 52 week high of $35.95. The stock has a market capitalization of $676.31 million, a price-to-earnings ratio of 10.16 and a beta of 0.84.

Pacira BioSciences (NASDAQ:PCRX) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.53 by $0.11. Pacira BioSciences had a return on equity of 13.22% and a net margin of 9.21%. The business had revenue of $178.02 million for the quarter, compared to analyst estimates of $173.31 million. Equities research analysts anticipate that Pacira BioSciences, Inc. will post 2.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on PCRX. StockNews.com downgraded Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Piper Sandler downgraded Pacira BioSciences from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $42.00 to $11.00 in a report on Monday, August 12th. Truist Financial cut shares of Pacira BioSciences from a “buy” rating to a “sell” rating and dropped their price objective for the company from $30.00 to $8.00 in a research note on Tuesday, August 13th. Needham & Company LLC reduced their target price on shares of Pacira BioSciences from $43.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Finally, HC Wainwright lowered their target price on shares of Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $24.78.

Insider Buying and Selling at Pacira BioSciences

In other news, CEO Frank D. Lee purchased 8,264 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was acquired at an average price of $12.10 per share, with a total value of $99,994.40. Following the purchase, the chief executive officer now directly owns 107,784 shares of the company’s stock, valued at approximately $1,304,186.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Pacira BioSciences news, CEO Frank D. Lee acquired 8,264 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost of $12.10 per share, with a total value of $99,994.40. Following the purchase, the chief executive officer now directly owns 107,784 shares in the company, valued at approximately $1,304,186.40. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jonathan Slonin sold 2,836 shares of Pacira BioSciences stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $28.25, for a total value of $80,117.00. Following the transaction, the insider now owns 95,557 shares of the company’s stock, valued at $2,699,485.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 11,176 shares of company stock valued at $136,240 and have sold 4,281 shares valued at $105,494. 6.40% of the stock is owned by corporate insiders.

Pacira BioSciences Profile

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.