Hennion & Walsh Asset Management Inc. Acquires 87,210 Shares of Pacira BioSciences, Inc. $PCRX

Hennion & Walsh Asset Management Inc. boosted its holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 171.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 138,105 shares of the company’s stock after purchasing an additional 87,210 shares during the quarter. Hennion & Walsh Asset Management Inc. owned approximately 0.32% of Pacira BioSciences worth $3,574,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Hantz Financial Services Inc. lifted its holdings in shares of Pacira BioSciences by 175.4% in the third quarter. Hantz Financial Services Inc. now owns 1,132 shares of the company’s stock worth $29,000 after buying an additional 721 shares in the last quarter. Tidemark LLC purchased a new position in Pacira BioSciences during the third quarter valued at $56,000. Strs Ohio bought a new stake in Pacira BioSciences in the 1st quarter valued at $75,000. iSAM Funds UK Ltd bought a new stake in Pacira BioSciences in the 3rd quarter valued at $80,000. Finally, Vestcor Inc purchased a new stake in Pacira BioSciences in the 3rd quarter worth $90,000. 99.73% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Pacira BioSciences

In other news, insider Jonathan Slonin sold 3,261 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $22.82, for a total value of $74,416.02. Following the sale, the insider directly owned 223,640 shares in the company, valued at approximately $5,103,464.80. This represents a 1.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Lauren Riker sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $20.81, for a total value of $83,240.00. Following the sale, the senior vice president directly owned 52,313 shares of the company’s stock, valued at $1,088,633.53. This represents a 7.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 8,677 shares of company stock worth $191,980 over the last three months. 6.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PCRX shares. Needham & Company LLC restated a “buy” rating and set a $30.00 price objective on shares of Pacira BioSciences in a research report on Friday, January 9th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Pacira BioSciences in a research report on Monday, December 29th. HC Wainwright reissued a “buy” rating and set a $38.00 price target on shares of Pacira BioSciences in a research note on Friday, January 9th. Wall Street Zen cut Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Finally, Zacks Research cut Pacira BioSciences from a “hold” rating to a “strong sell” rating in a report on Monday, March 9th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Pacira BioSciences currently has a consensus rating of “Hold” and a consensus price target of $30.25.

Pacira BioSciences Stock Up 1.7%

Shares of PCRX opened at $23.27 on Tuesday. The company has a quick ratio of 3.28, a current ratio of 4.54 and a debt-to-equity ratio of 0.54. The business has a fifty day moving average of $21.96 and a 200 day moving average of $23.33. The company has a market cap of $942.20 million, a PE ratio of 155.13 and a beta of 0.21. Pacira BioSciences, Inc. has a 52-week low of $18.80 and a 52-week high of $27.64.

Pacira BioSciences (NASDAQ:PCRX) last announced its earnings results on Thursday, February 26th. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.28). The firm had revenue of $196.87 million during the quarter, compared to analysts’ expectations of $201.93 million. Pacira BioSciences had a net margin of 0.97% and a return on equity of 10.39%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.91 EPS. On average, sell-side analysts expect that Pacira BioSciences, Inc. will post 2.41 EPS for the current year.

About Pacira BioSciences

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.