Quest Partners LLC Makes New Investment in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Quest Partners LLC bought a new stake in Pacira BioSciences, Inc. (NASDAQ:PCRX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,961 shares of the company’s stock, valued at approximately $113,000.

Several other institutional investors also recently modified their holdings of the business. LSV Asset Management acquired a new position in Pacira BioSciences in the second quarter valued at approximately $462,000. Victory Capital Management Inc. boosted its position in shares of Pacira BioSciences by 18.7% in the 2nd quarter. Victory Capital Management Inc. now owns 87,639 shares of the company’s stock worth $2,507,000 after purchasing an additional 13,776 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Pacira BioSciences by 6.6% during the second quarter. Rhumbline Advisers now owns 159,467 shares of the company’s stock worth $4,562,000 after purchasing an additional 9,869 shares during the period. Lisanti Capital Growth LLC bought a new stake in Pacira BioSciences in the second quarter valued at about $3,972,000. Finally, nVerses Capital LLC lifted its stake in Pacira BioSciences by 800.0% in the second quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock valued at $51,000 after buying an additional 1,600 shares during the period. Institutional investors and hedge funds own 99.73% of the company’s stock.

Pacira BioSciences Price Performance

NASDAQ PCRX opened at $13.49 on Tuesday. Pacira BioSciences, Inc. has a 12-month low of $11.16 and a 12-month high of $35.95. The firm’s 50 day moving average is $17.01 and its 200-day moving average is $24.37. The company has a market capitalization of $622.29 million, a PE ratio of 9.43 and a beta of 0.84. 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 (NASDAQ:PCRX) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.11. Pacira BioSciences had a net margin of 9.21% and a return on equity of 13.22%. The firm 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 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $10.00 price target (down from $45.00) on shares of Pacira BioSciences in a research note on Monday, August 12th. Barclays lowered shares of Pacira BioSciences from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $38.00 to $25.00 in a report on Wednesday, July 3rd. Raymond James downgraded Pacira BioSciences from an “outperform” rating to a “market perform” rating in a research note on Monday, August 12th. StockNews.com lowered Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Finally, Piper Sandler lowered Pacira BioSciences from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $42.00 to $11.00 in a research report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $24.78.

Insider Buying and Selling

In related news, CEO Frank D. Lee purchased 8,264 shares of the stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $12.10 per share, with a total value of $99,994.40. Following the transaction, the chief executive officer now directly owns 107,784 shares of the company’s stock, valued at $1,304,186.40. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Jonathan Slonin sold 2,836 shares of Pacira BioSciences stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $28.25, for a total transaction of $80,117.00. Following the completion of the transaction, the insider now owns 95,557 shares in the company, valued at $2,699,485.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frank D. Lee acquired 8,264 shares of the company’s stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $12.10 per share, for a total transaction of $99,994.40. Following the purchase, the chief executive officer now directly owns 107,784 shares of the company’s stock, valued at $1,304,186.40. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 11,176 shares of company stock worth $136,240 and have sold 4,281 shares worth $105,494. 6.40% of the stock is currently 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.