PNC Financial Services Group Inc. Purchases 2,387 Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX)

PNC Financial Services Group Inc. raised its position in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 33.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,485 shares of the company’s stock after purchasing an additional 2,387 shares during the period. PNC Financial Services Group Inc.’s holdings in Pacira BioSciences were worth $320,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. ICA Group Wealth Management LLC purchased a new stake in shares of Pacira BioSciences in the fourth quarter worth $30,000. Quadrant Capital Group LLC boosted its position in shares of Pacira BioSciences by 61.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,324 shares of the company’s stock valued at $78,000 after acquiring an additional 885 shares during the last quarter. Cape Investment Advisory Inc. purchased a new position in shares of Pacira BioSciences during the fourth quarter worth about $97,000. Quest Partners LLC bought a new position in shares of Pacira BioSciences in the fourth quarter worth approximately $125,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in Pacira BioSciences by 353.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,373 shares of the company’s stock valued at $181,000 after purchasing an additional 4,188 shares in the last quarter. 99.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PCRX has been the subject of a number of research reports. HC Wainwright reissued a “buy” rating and issued a $57.00 price target on shares of Pacira BioSciences in a research note on Wednesday, May 8th. Barclays reduced their target price on Pacira BioSciences from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 8th. JPMorgan Chase & Co. began coverage on Pacira BioSciences in a research note on Thursday, March 7th. They set an “overweight” rating and a $45.00 price target for the company. Finally, Needham & Company LLC decreased their price objective on Pacira BioSciences from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Pacira BioSciences currently has a consensus rating of “Buy” and an average price target of $47.40.

Pacira BioSciences Price Performance

PCRX opened at $28.61 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.81 and a quick ratio of 4.78. The stock’s 50 day simple moving average is $28.72 and its 200 day simple moving average is $29.86. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 20.01 and a beta of 0.87. Pacira BioSciences, Inc. has a 1 year low of $25.33 and a 1 year high of $40.45.

Pacira BioSciences (NASDAQ:PCRX) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). Pacira BioSciences had a net margin of 10.34% and a return on equity of 12.98%. The company had revenue of $167.12 million for the quarter, compared to analysts’ expectations of $165.43 million. As a group, analysts predict that Pacira BioSciences, Inc. will post 2.13 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Daryl Gaugler sold 1,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $28.38, for a total transaction of $28,380.00. Following the completion of the transaction, the chief operating officer now directly owns 116,040 shares of the company’s stock, valued at $3,293,215.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Kristen Williams sold 7,452 shares of Pacira BioSciences stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $28.38, for a total value of $211,487.76. Following the sale, the insider now owns 102,912 shares in the company, valued at $2,920,642.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Daryl Gaugler sold 1,000 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $28.38, for a total transaction of $28,380.00. Following the transaction, the chief operating officer now directly owns 116,040 shares in the company, valued at $3,293,215.20. The disclosure for this sale can be found here. Insiders have sold a total of 18,314 shares of company stock valued at $522,053 in the last quarter. Insiders own 6.40% of the company’s stock.

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.