Raymond James & Associates Sells 3,344 Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX)

Raymond James & Associates cut its holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 15.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 19,015 shares of the company’s stock after selling 3,344 shares during the period. Raymond James & Associates’ holdings in Pacira BioSciences were worth $642,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PCRX. Rubric Capital Management LP bought a new stake in Pacira BioSciences in the 3rd quarter valued at about $14,102,000. Eagle Asset Management Inc. increased its position in Pacira BioSciences by 84.8% in the 3rd quarter. Eagle Asset Management Inc. now owns 136,393 shares of the company’s stock valued at $4,185,000 after buying an additional 62,597 shares in the last quarter. Rice Hall James & Associates LLC increased its position in Pacira BioSciences by 6.8% in the 3rd quarter. Rice Hall James & Associates LLC now owns 968,485 shares of the company’s stock valued at $29,713,000 after buying an additional 61,680 shares in the last quarter. Boston Partners increased its position in Pacira BioSciences by 105.4% in the 3rd quarter. Boston Partners now owns 108,509 shares of the company’s stock valued at $3,329,000 after buying an additional 55,679 shares in the last quarter. Finally, Glenmede Trust Co. NA increased its position in Pacira BioSciences by 17.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 347,222 shares of the company’s stock valued at $10,653,000 after buying an additional 51,877 shares in the last quarter. 99.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PCRX has been the subject of a number of research analyst reports. TheStreet raised Pacira BioSciences from a “d+” rating to a “c” rating in a research report on Thursday, February 29th. HC Wainwright reiterated a “buy” rating and set a $57.00 price target on shares of Pacira BioSciences in a research note on Monday, March 4th. Royal Bank of Canada cut their price target on Pacira BioSciences from $53.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, March 1st. Wedbush reiterated an “outperform” rating and set a $57.00 price target on shares of Pacira BioSciences in a research note on Thursday, February 8th. Finally, JPMorgan Chase & Co. began coverage on Pacira BioSciences in a research note on Thursday, March 7th. They set an “overweight” rating and a $45.00 price target for the company. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $49.50.

Insider Buying and Selling at Pacira BioSciences

In other Pacira BioSciences news, Director Gary W. Pace sold 90,000 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $30.60, for a total transaction of $2,754,000.00. Following the completion of the transaction, the director now directly owns 22,127 shares of the company’s stock, valued at $677,086.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Pacira BioSciences news, Director Gary W. Pace sold 1,066 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $29.67, for a total transaction of $31,628.22. Following the sale, the director now owns 140,384 shares in the company, valued at $4,165,193.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gary W. Pace sold 90,000 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $30.60, for a total value of $2,754,000.00. Following the sale, the director now owns 22,127 shares in the company, valued at approximately $677,086.20. The disclosure for this sale can be found here. 6.60% of the stock is owned by corporate insiders.

Pacira BioSciences Stock Performance

PCRX stock opened at $25.90 on Thursday. The firm has a market cap of $1.20 billion, a PE ratio of 31.98 and a beta of 0.76. The company has a quick ratio of 4.17, a current ratio of 5.24 and a debt-to-equity ratio of 0.59. The business has a 50 day moving average of $28.85 and a 200-day moving average of $29.71. Pacira BioSciences, Inc. has a 12-month low of $25.74 and a 12-month high of $48.60.

Pacira BioSciences (NASDAQ:PCRX) last announced its quarterly earnings data on Thursday, February 29th. The company reported $0.71 earnings per share for the quarter, meeting the consensus estimate of $0.71. Pacira BioSciences had a return on equity of 12.81% and a net margin of 6.22%. The business had revenue of $181.24 million during the quarter, compared to analyst estimates of $180.60 million. As a group, sell-side analysts expect that Pacira BioSciences, Inc. will post 2.18 earnings per share for the current year.

About Pacira BioSciences

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.