Rhumbline Advisers Grows Stock Holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Rhumbline Advisers lifted its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 6.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 159,467 shares of the company’s stock after purchasing an additional 9,869 shares during the period. Rhumbline Advisers owned 0.34% of Pacira BioSciences worth $4,562,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Pacira BioSciences by 0.3% during the first quarter. Vanguard Group Inc. now owns 5,113,384 shares of the company’s stock worth $149,413,000 after buying an additional 14,960 shares during the last quarter. Frontier Capital Management Co. LLC boosted 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 last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Pacira BioSciences by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,411,767 shares of the company’s stock valued at $47,633,000 after purchasing an additional 17,949 shares during the period. Vestal Point Capital LP purchased a new stake in shares of Pacira BioSciences in the fourth quarter valued at about $40,488,000. Finally, Clearbridge Investments LLC increased its position in Pacira BioSciences by 2.3% during the first quarter. Clearbridge Investments LLC now owns 1,172,150 shares of the company’s stock worth $34,250,000 after purchasing an additional 26,463 shares during the last quarter. 99.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on PCRX shares. HC Wainwright dropped their price target on shares of Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating for the company in a research note on Monday, August 12th. StockNews.com lowered Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Truist Financial downgraded Pacira BioSciences from a “buy” rating to a “sell” rating and reduced their target price for the company from $30.00 to $8.00 in a research report on Tuesday, August 13th. Raymond James cut Pacira BioSciences from an “outperform” rating to a “market perform” rating in a report on Monday, August 12th. Finally, Royal Bank of Canada lowered shares of Pacira BioSciences from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $37.00 to $14.00 in a report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $24.78.

Pacira BioSciences Stock Performance

Shares of Pacira BioSciences stock opened at $13.11 on Monday. The stock has a market capitalization of $604.76 million, a price-to-earnings ratio of 9.17 and a beta of 0.84. The company has a debt-to-equity ratio of 0.67, a current ratio of 6.82 and a quick ratio of 5.70. The business has a 50-day moving average of $17.16 and a 200 day moving average of $24.48. Pacira BioSciences, Inc. has a 12 month low of $11.16 and a 12 month high of $35.95.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.11. The business had revenue of $178.02 million for the quarter, compared to analysts’ expectations of $173.31 million. Pacira BioSciences had a net margin of 9.21% and a return on equity of 13.22%. As a group, sell-side analysts forecast that Pacira BioSciences, Inc. will post 2.24 earnings per share for the current year.

Insider Buying and Selling at Pacira BioSciences

In other news, insider Jonathan Slonin sold 2,836 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $28.25, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Frank D. Lee purchased 8,264 shares of the stock in a transaction on Monday, August 12th. The stock was bought at an average price of $12.10 per share, for a total transaction of $99,994.40. Following the acquisition, the chief executive officer now directly owns 107,784 shares of the company’s stock, valued at approximately $1,304,186.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan Slonin sold 2,836 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $28.25, for a total transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders acquired 11,176 shares of company stock valued at $136,240 and sold 4,281 shares valued at $105,494. 6.40% of the stock is currently owned by corporate insiders.

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.