Pacira BioSciences, Inc. (NASDAQ:PCRX) Position Boosted by BNP Paribas Financial Markets

BNP Paribas Financial Markets increased its holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 1.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 87,936 shares of the company’s stock after purchasing an additional 1,444 shares during the quarter. BNP Paribas Financial Markets’ holdings in Pacira BioSciences were worth $2,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PCRX. Graham Capital Management L.P. bought a new position in Pacira BioSciences in the 3rd quarter worth approximately $247,000. Legato Capital Management LLC boosted its stake in Pacira BioSciences by 16.3% during the 4th quarter. Legato Capital Management LLC now owns 11,168 shares of the company’s stock valued at $377,000 after purchasing an additional 1,563 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Pacira BioSciences by 397,487.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,041,679 shares of the company’s stock valued at $35,146,000 after purchasing an additional 1,041,417 shares in the last quarter. Tributary Capital Management LLC boosted its stake in Pacira BioSciences by 32.7% during the 4th quarter. Tributary Capital Management LLC now owns 242,005 shares of the company’s stock valued at $8,165,000 after purchasing an additional 59,593 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Pacira BioSciences by 185.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 246,621 shares of the company’s stock valued at $8,321,000 after purchasing an additional 160,149 shares in the last quarter. 99.73% of the stock is owned by institutional investors.

Pacira BioSciences Stock Performance

PCRX opened at $21.76 on Monday. The business has a fifty day simple moving average of $27.86 and a 200-day simple moving average of $29.17. The firm has a market cap of $1.01 billion, a PE ratio of 15.22 and a beta of 0.88. Pacira BioSciences, Inc. has a fifty-two week low of $20.08 and a fifty-two week high of $40.16. The company has a quick ratio of 4.78, a current ratio of 5.81 and a debt-to-equity ratio of 0.57.

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

Insider Activity

In other news, insider Jonathan Slonin sold 2,836 shares of the stock in a transaction on Tuesday, July 2nd. The stock was 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 owns 95,557 shares in the company, valued at $2,699,485.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Lauren Riker sold 3,970 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $28.72, for a total transaction of $114,018.40. Following the completion of the sale, the senior vice president now directly owns 38,075 shares in the company, valued at $1,093,514. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jonathan Slonin sold 2,836 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $28.25, for a total value of $80,117.00. Following the sale, the insider now owns 95,557 shares of the company’s stock, valued at $2,699,485.25. The disclosure for this sale can be found here. Insiders sold 21,150 shares of company stock worth $602,170 over the last quarter. Corporate insiders own 6.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $43.00 price target on shares of Pacira BioSciences in a research note on Tuesday, July 2nd. Piper Sandler reaffirmed an “overweight” rating and set a $42.00 price target on shares of Pacira BioSciences in a research note on Wednesday, July 3rd. HC Wainwright reaffirmed a “buy” rating and set a $57.00 price target on shares of Pacira BioSciences in a research note on Tuesday, July 2nd. Finally, Barclays lowered Pacira BioSciences from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $38.00 to $25.00 in a research note on Wednesday, July 3rd. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.10.

Pacira BioSciences Company Profile

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.