Shell Asset Management Co. Buys 1,000 Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX)

Shell Asset Management Co. boosted its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRXGet Rating) by 30.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,296 shares of the company’s stock after purchasing an additional 1,000 shares during the quarter. Shell Asset Management Co.’s holdings in Pacira BioSciences were worth $250,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PCRX. Vanguard Group Inc. grew its position in shares of Pacira BioSciences by 0.5% in the first quarter. Vanguard Group Inc. now owns 4,688,119 shares of the company’s stock valued at $357,797,000 after purchasing an additional 22,164 shares during the last quarter. Renaissance Technologies LLC lifted its position in Pacira BioSciences by 0.6% in the first quarter. Renaissance Technologies LLC now owns 1,860,997 shares of the company’s stock worth $142,031,000 after purchasing an additional 11,800 shares during the period. Loomis Sayles & Co. L P boosted its stake in Pacira BioSciences by 8.6% during the first quarter. Loomis Sayles & Co. L P now owns 1,293,700 shares of the company’s stock worth $98,736,000 after buying an additional 102,986 shares in the last quarter. Stephens Investment Management Group LLC increased its holdings in Pacira BioSciences by 0.7% in the 2nd quarter. Stephens Investment Management Group LLC now owns 1,168,079 shares of the company’s stock valued at $68,099,000 after buying an additional 7,864 shares during the period. Finally, Clearbridge Investments LLC increased its holdings in Pacira BioSciences by 0.4% in the 1st quarter. Clearbridge Investments LLC now owns 1,125,653 shares of the company’s stock valued at $85,910,000 after buying an additional 4,154 shares during the period.

Pacira BioSciences Price Performance

Shares of PCRX stock opened at $49.04 on Friday. Pacira BioSciences, Inc. has a 1 year low of $46.03 and a 1 year high of $82.16. The company has a current ratio of 4.06, a quick ratio of 3.32 and a debt-to-equity ratio of 0.93. The firm’s 50 day moving average is $52.98 and its 200-day moving average is $56.18. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 119.61 and a beta of 0.78.

Pacira BioSciences (NASDAQ:PCRXGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The firm had revenue of $167.47 million for the quarter, compared to analyst estimates of $167.30 million. Pacira BioSciences had a return on equity of 12.34% and a net margin of 3.19%. Sell-side analysts forecast that Pacira BioSciences, Inc. will post 2.08 EPS for the current fiscal year.

Insider Activity at Pacira BioSciences

In other Pacira BioSciences news, insider Max Reinhardt sold 1,380 shares of the business’s stock in a transaction dated Friday, October 7th. The stock was sold at an average price of $58.00, for a total transaction of $80,040.00. Following the completion of the sale, the insider now directly owns 31,378 shares of the company’s stock, valued at approximately $1,819,924. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 6.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wedbush reiterated an “outperform” rating and set a $94.00 target price on shares of Pacira BioSciences in a research report on Wednesday, September 21st. HC Wainwright decreased their price objective on Pacira BioSciences from $83.00 to $76.00 and set a “buy” rating on the stock in a report on Friday, November 4th. TheStreet cut Pacira BioSciences from a “b-” rating to a “c+” rating in a report on Friday, October 28th. Needham & Company LLC reduced their target price on shares of Pacira BioSciences from $76.00 to $74.00 and set a “buy” rating on the stock in a research note on Thursday, November 3rd. Finally, StockNews.com started coverage on shares of Pacira BioSciences in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.33.

Pacira BioSciences Profile

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Pacira BioSciences, Inc provides non-opioid pain management and regenerative health solutions for healthcare practitioners and their patients 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 only to targeted nerves.

Further Reading

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Institutional Ownership by Quarter for Pacira BioSciences (NASDAQ:PCRX)

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