Pacira BioSciences, Inc. (NASDAQ:PCRX) Shares Sold by Bank of Montreal Can

Bank of Montreal Can reduced its stake in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 97.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,825 shares of the company’s stock after selling 982,118 shares during the period. Bank of Montreal Can’s holdings in Pacira BioSciences were worth $656,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PCRX. GAMMA Investing LLC lifted its position in Pacira BioSciences by 229.6% in the second quarter. GAMMA Investing LLC now owns 1,338 shares of the company’s stock worth $38,000 after purchasing an additional 932 shares during the period. Park Place Capital Corp acquired a new stake in shares of Pacira BioSciences in the second quarter valued at $46,000. Innealta Capital LLC bought a new position in Pacira BioSciences during the second quarter valued at about $50,000. nVerses Capital LLC grew its holdings in 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 acquiring an additional 1,600 shares during the period. Finally, Natixis bought a new stake in Pacira BioSciences in the first quarter worth about $95,000. 99.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PCRX has been the subject of several research reports. Truist Financial lowered shares of Pacira BioSciences from a “buy” rating to a “sell” rating and reduced their price objective for the company from $30.00 to $8.00 in a research report 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 report on Monday, August 12th. Royal Bank of Canada lifted their price target on shares of Pacira BioSciences from $14.00 to $15.00 and gave the stock a “sector perform” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $10.00 price objective (down previously from $45.00) on shares of Pacira BioSciences in a research report on Monday, August 12th. Finally, Jefferies Financial Group raised their price objective on Pacira BioSciences from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $24.20.

Pacira BioSciences Price Performance

PCRX opened at $15.66 on Wednesday. The firm has a market capitalization of $728.91 million, a P/E ratio of 10.95 and a beta of 0.84. The stock has a fifty day moving average of $15.23 and a 200-day moving average of $22.69. The company has a quick ratio of 5.70, a current ratio of 6.82 and a debt-to-equity ratio of 0.67. Pacira BioSciences, Inc. has a 12-month low of $11.16 and a 12-month high of $35.95.

Pacira BioSciences (NASDAQ:PCRX) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.64 earnings per share (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 firm had revenue of $178.02 million during the quarter, compared to the consensus estimate of $173.31 million. Equities analysts forecast that Pacira BioSciences, Inc. will post 2.24 EPS for the current fiscal year.

Insider Buying and Selling at Pacira BioSciences

In related news, CEO Frank D. Lee purchased 8,264 shares of the stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $12.10 per share, for a total transaction of $99,994.40. Following the acquisition, the chief executive officer now directly owns 107,784 shares in the company, valued at approximately $1,304,186.40. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have purchased 11,176 shares of company stock worth $136,240. 6.40% of the stock is currently owned by company insiders.

About Pacira BioSciences

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.