Victory Capital Management Inc. Boosts Stake in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Victory Capital Management Inc. lifted its position in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 18.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 87,639 shares of the company’s stock after purchasing an additional 13,776 shares during the period. Victory Capital Management Inc. owned about 0.19% of Pacira BioSciences worth $2,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the business. Texas Permanent School Fund Corp lifted its stake in Pacira BioSciences by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 40,642 shares of the company’s stock worth $1,188,000 after purchasing an additional 543 shares in the last quarter. Duality Advisers LP raised its position in shares of Pacira BioSciences by 1.8% during the 1st quarter. Duality Advisers LP now owns 34,784 shares of the company’s stock valued at $1,016,000 after buying an additional 605 shares in the last quarter. Inspire Investing LLC lifted its holdings in shares of Pacira BioSciences by 5.9% in the 1st quarter. Inspire Investing LLC now owns 12,131 shares of the company’s stock valued at $354,000 after acquiring an additional 675 shares during the last quarter. Quadrant Capital Group LLC grew its position in Pacira BioSciences by 61.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,324 shares of the company’s stock worth $78,000 after acquiring an additional 885 shares in the last quarter. Finally, ICA Group Wealth Management LLC bought a new stake in Pacira BioSciences during the fourth quarter worth approximately $30,000. 99.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PCRX. Royal Bank of Canada downgraded Pacira BioSciences from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $37.00 to $14.00 in a research report on Monday, August 12th. Needham & Company LLC dropped their price target on shares of Pacira BioSciences from $43.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Piper Sandler lowered 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. HC Wainwright reduced their price target on shares of Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, Raymond James cut Pacira BioSciences from an “outperform” rating to a “market perform” rating in a report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $24.78.

Insider Activity

In other Pacira BioSciences news, CEO Frank D. Lee bought 8,264 shares of Pacira BioSciences stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of $12.10 per share, with a total value of $99,994.40. Following the completion of the acquisition, the chief executive officer now directly owns 107,784 shares in the company, valued at approximately $1,304,186.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jonathan Slonin sold 2,836 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 95,557 shares of the company’s stock, valued at approximately $2,699,485.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frank D. Lee acquired 8,264 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $12.10 per share, with a total value of $99,994.40. Following the transaction, 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 ninety days, insiders have acquired 11,176 shares of company stock valued at $136,240 and have sold 4,281 shares valued at $105,494. Insiders own 6.40% of the company’s stock.

Pacira BioSciences Stock Performance

PCRX stock opened at $14.35 on Wednesday. The firm has a 50-day simple moving average of $16.88 and a two-hundred day simple moving average of $24.26. The firm has a market cap of $667.70 million, a price-to-earnings ratio of 10.03 and a beta of 0.84. The company has a debt-to-equity ratio of 0.67, a quick ratio of 5.70 and a current ratio of 6.82. Pacira BioSciences, Inc. has a one year low of $11.16 and a one year 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, beating analysts’ consensus estimates of $0.53 by $0.11. The business had revenue of $178.02 million for the quarter, compared to analyst estimates of $173.31 million. Pacira BioSciences had a net margin of 9.21% and a return on equity of 13.22%. On average, equities analysts forecast that Pacira BioSciences, Inc. will post 2.24 EPS for the current fiscal year.

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.