200,073 Shares in Pacira BioSciences, Inc. $PCRX Acquired by Empowered Funds LLC

Empowered Funds LLC acquired a new stake in Pacira BioSciences, Inc. (NASDAQ:PCRX) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 200,073 shares of the company’s stock, valued at approximately $5,076,000. Empowered Funds LLC owned about 0.50% of Pacira BioSciences at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Balyasny Asset Management L.P. raised its stake in Pacira BioSciences by 36.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,130,733 shares of the company’s stock valued at $50,925,000 after acquiring an additional 565,288 shares during the period. Goldman Sachs Group Inc. boosted its position in Pacira BioSciences by 49.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company’s stock worth $27,454,000 after purchasing an additional 367,869 shares during the period. Hillsdale Investment Management Inc. purchased a new position in shares of Pacira BioSciences in the fourth quarter worth about $7,976,000. Bank of New York Mellon Corp bought a new stake in shares of Pacira BioSciences in the second quarter valued at approximately $7,532,000. Finally, Bank of America Corp DE purchased a new stake in shares of Pacira BioSciences during the 2nd quarter valued at approximately $6,089,000. 99.73% of the stock is owned by institutional investors.

Pacira BioSciences Stock Up 0.5%

Shares of NASDAQ:PCRX opened at $25.90 on Tuesday. The firm has a fifty day moving average price of $25.25 and a two-hundred day moving average price of $23.88. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.04 and a quick ratio of 3.94. Pacira BioSciences, Inc. has a one year low of $18.80 and a one year high of $27.66. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 74.00 and a beta of 0.27.

Pacira BioSciences (NASDAQ:PCRX) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. The firm had revenue of $192.40 million during the quarter, compared to analyst estimates of $191.06 million. Pacira BioSciences had a net margin of 1.96% and a return on equity of 9.68%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.74 EPS. Analysts anticipate that Pacira BioSciences, Inc. will post 1.98 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on PCRX shares. Truist Financial started coverage on shares of Pacira BioSciences in a report on Monday, August 17th. They issued a “buy” rating and a $30.00 price objective for the company. Wall Street Zen downgraded Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 16th. Needham & Company LLC raised their price target on Pacira BioSciences from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Pacira BioSciences in a research report on Monday, August 17th. Finally, HC Wainwright reiterated a “buy” rating and set a $38.00 price objective on shares of Pacira BioSciences in a research note on Wednesday, July 1st. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $30.20.

Insider Buying and Selling at Pacira BioSciences

In other Pacira BioSciences news, SVP Lauren Riker sold 6,115 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $23.50, for a total value of $143,702.50. Following the sale, the senior vice president owned 62,284 shares of the company’s stock, valued at $1,463,674. This trade represents a 8.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Slonin sold 3,040 shares of Pacira BioSciences stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $23.23, for a total value of $70,619.20. Following the sale, the insider owned 216,384 shares of the company’s stock, valued at approximately $5,026,600.32. This trade represents a 1.39% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.40% of the stock is currently owned by company insiders.

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.