Pacira BioSciences, Inc. $PCRX Shares Purchased by Empowered Funds LLC

Empowered Funds LLC increased its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 21.6% during the first quarter, Holdings Channel reports. The institutional investor owned 276,776 shares of the company’s stock after acquiring an additional 49,171 shares during the period. Empowered Funds LLC’s holdings in Pacira BioSciences were worth $6,255,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PCRX. Balyasny Asset Management L.P. increased its holdings in Pacira BioSciences by 36.1% in the second quarter. Balyasny Asset Management L.P. now owns 2,130,733 shares of the company’s stock valued at $50,925,000 after buying an additional 565,288 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Pacira BioSciences by 49.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company’s stock worth $27,454,000 after acquiring an additional 367,869 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new stake in shares of Pacira BioSciences in the 4th quarter worth approximately $7,976,000. LSV Asset Management grew its holdings in shares of Pacira BioSciences by 179.8% in the 4th quarter. LSV Asset Management now owns 319,800 shares of the company’s stock worth $8,276,000 after acquiring an additional 205,500 shares during the period. Finally, Marshall Wace LLP purchased a new position in Pacira BioSciences in the 2nd quarter valued at approximately $4,550,000. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PCRX shares. Needham & Company LLC lifted their price objective on Pacira BioSciences from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, May 1st. HC Wainwright reaffirmed a “buy” rating and set a $38.00 price target on shares of Pacira BioSciences in a research note on Wednesday, July 1st. Weiss Ratings upgraded shares of Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. Zacks Research upgraded shares of Pacira BioSciences from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, Royal Bank Of Canada increased their price objective on shares of Pacira BioSciences from $22.00 to $24.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Three 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $29.40.

Insider Buying and Selling

In other Pacira BioSciences news, SVP Lauren Riker sold 6,115 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $23.50, for a total value of $143,702.50. Following the completion of the transaction, the senior vice president directly owned 62,284 shares in the company, valued at approximately $1,463,674. The trade was a 8.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 6.40% of the company’s stock.

Pacira BioSciences Stock Performance

NASDAQ PCRX opened at $26.41 on Friday. The company has a quick ratio of 3.35, a current ratio of 4.73 and a debt-to-equity ratio of 0.56. Pacira BioSciences, Inc. has a fifty-two week low of $18.80 and a fifty-two week high of $27.64. The business has a fifty day moving average of $24.46 and a 200-day moving average of $23.24. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 220.10 and a beta of 0.27.

Pacira BioSciences (NASDAQ:PCRX) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). The firm had revenue of $177.38 million during the quarter, compared to analyst estimates of $171.80 million. Pacira BioSciences had a net margin of 0.70% and a return on equity of 10.24%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 EPS. As a group, analysts predict that Pacira BioSciences, Inc. will post 1.94 earnings per share for the current fiscal year.

Pacira BioSciences Profile

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.