Hennion & Walsh Asset Management Inc. Makes New $1.01 Million Investment in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Hennion & Walsh Asset Management Inc. bought a new position in Pacira BioSciences, Inc. (NASDAQ:PCRX) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 35,450 shares of the company’s stock, valued at approximately $1,014,000. Hennion & Walsh Asset Management Inc. owned 0.08% of Pacira BioSciences at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Pacira BioSciences by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,113,384 shares of the company’s stock valued at $149,413,000 after acquiring an additional 14,960 shares during the period. Frontier Capital Management Co. LLC grew its position in shares of Pacira BioSciences by 15.8% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,084,542 shares of the company’s stock valued at $70,332,000 after acquiring an additional 285,045 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Pacira BioSciences by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,411,767 shares of the company’s stock valued at $47,633,000 after acquiring an additional 17,949 shares during the period. Vestal Point Capital LP bought a new stake in shares of Pacira BioSciences during the 4th quarter valued at $40,488,000. Finally, Clearbridge Investments LLC grew its position in shares of Pacira BioSciences by 2.3% during the 1st quarter. Clearbridge Investments LLC now owns 1,172,150 shares of the company’s stock valued at $34,250,000 after acquiring an additional 26,463 shares during the period. Institutional investors own 99.73% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Frank D. Lee bought 8,264 shares of the company’s stock in a transaction on Monday, August 12th. The shares were acquired at an average cost of $12.10 per share, for a total transaction of $99,994.40. Following the purchase, the chief executive officer now directly owns 107,784 shares of the company’s stock, valued at $1,304,186.40. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Lauren Riker sold 3,970 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $28.72, for a total transaction of $114,018.40. Following the transaction, the senior vice president now directly owns 38,075 shares in the company, valued at $1,093,514. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Frank D. Lee acquired 8,264 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $12.10 per share, for a total transaction of $99,994.40. Following the completion of the purchase, the chief executive officer now owns 107,784 shares of the company’s stock, valued at approximately $1,304,186.40. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 11,176 shares of company stock worth $136,240 and have sold 22,095 shares worth $621,118. Insiders own 6.40% of the company’s stock.

Pacira BioSciences Stock Performance

Shares of NASDAQ:PCRX opened at $13.98 on Tuesday. The company has a current ratio of 6.82, a quick ratio of 5.70 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $644.90 million, a price-to-earnings ratio of 9.78 and a beta of 0.88. The firm’s 50-day moving average is $21.98 and its 200 day moving average is $26.54. Pacira BioSciences, Inc. has a 12 month low of $11.16 and a 12 month high of $38.23.

Pacira BioSciences (NASDAQ:PCRX) last issued its earnings results on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.11. The business had revenue of $178.02 million for the quarter, compared to the consensus estimate of $173.31 million. Pacira BioSciences had a net margin of 9.21% and a return on equity of 13.22%. Research analysts predict that Pacira BioSciences, Inc. will post 2.22 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PCRX shares. Royal Bank of Canada downgraded shares of Pacira BioSciences from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $37.00 to $14.00 in a research report on Monday, August 12th. Raymond James cut shares of Pacira BioSciences from an “outperform” rating to a “market perform” rating in a research note on Monday, August 12th. StockNews.com cut shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Barclays cut shares of Pacira BioSciences from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $38.00 to $25.00 in a research note on Wednesday, July 3rd. Finally, Piper Sandler cut shares of Pacira BioSciences from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $42.00 to $11.00 in a research note on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $24.78.

Pacira BioSciences 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.