Texas Permanent School Fund Corp Sells 3,610 Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX)

Texas Permanent School Fund Corp cut its position in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 8.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 37,032 shares of the company’s stock after selling 3,610 shares during the period. Texas Permanent School Fund Corp owned approximately 0.08% of Pacira BioSciences worth $1,059,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. ICA Group Wealth Management LLC bought a new stake in shares of Pacira BioSciences during the fourth quarter valued at approximately $30,000. GAMMA Investing LLC boosted its stake in Pacira BioSciences by 229.6% during the 2nd 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 last quarter. Park Place Capital Corp bought a new stake in shares of Pacira BioSciences in the 2nd quarter worth $46,000. Innealta Capital LLC purchased a new position in shares of Pacira BioSciences in the second quarter worth $50,000. Finally, nVerses Capital LLC raised its stake in shares of Pacira BioSciences by 800.0% in the second quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $51,000 after purchasing an additional 1,600 shares during the last quarter. Institutional investors own 99.73% of the company’s stock.

Insider Activity

In related news, insider Jonathan Slonin sold 2,836 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $28.25, for a total value of $80,117.00. Following the completion of the sale, the insider now directly owns 95,557 shares of the company’s stock, valued at approximately $2,699,485.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Frank D. Lee bought 8,264 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were bought 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 owns 107,784 shares in the company, valued at $1,304,186.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan Slonin sold 2,836 shares of the company’s stock in a transaction on 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 directly owns 95,557 shares of the company’s stock, valued at approximately $2,699,485.25. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 11,176 shares of company stock valued at $136,240 and have sold 4,281 shares valued at $105,494. Insiders own 6.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PCRX. Needham & Company LLC reduced their price objective on Pacira BioSciences from $43.00 to $22.00 and set a “buy” rating for the company in a report on Monday, August 12th. StockNews.com lowered shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Truist Financial downgraded shares of Pacira BioSciences from a “buy” rating to a “sell” rating and lowered their price objective for the company from $30.00 to $8.00 in a research report on Tuesday, August 13th. Barclays cut shares of Pacira BioSciences from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $38.00 to $25.00 in a report on Wednesday, July 3rd. Finally, Royal Bank of Canada lowered shares of Pacira BioSciences from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $37.00 to $14.00 in a research note 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $24.78.

Pacira BioSciences Trading Down 1.1 %

Shares of Pacira BioSciences stock opened at $14.53 on Friday. Pacira BioSciences, Inc. has a 1-year low of $11.16 and a 1-year high of $35.95. The company’s fifty day simple moving average is $16.48 and its 200-day simple moving average is $24.03. The company has a debt-to-equity ratio of 0.67, a current ratio of 6.82 and a quick ratio of 5.70. The stock has a market capitalization of $670.27 million, a PE ratio of 10.16 and a beta of 0.84.

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

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.