Victory Capital Management Inc. Has $2.21 Million Stock Position in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Victory Capital Management Inc. lessened its holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 4.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 65,564 shares of the company’s stock after selling 3,123 shares during the quarter. Victory Capital Management Inc.’s holdings in Pacira BioSciences were worth $2,212,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of PCRX. Pacer Advisors Inc. lifted its position in shares of Pacira BioSciences by 397,487.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,041,679 shares of the company’s stock worth $35,146,000 after buying an additional 1,041,417 shares during the last quarter. Rubric Capital Management LP bought a new position in shares of Pacira BioSciences in the third quarter worth about $14,102,000. Assenagon Asset Management S.A. lifted its holdings in shares of Pacira BioSciences by 185.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 246,621 shares of the company’s stock worth $8,321,000 after acquiring an additional 160,149 shares during the last quarter. Eagle Asset Management Inc. boosted its stake in shares of 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 purchasing an additional 62,597 shares in the last quarter. Finally, Rice Hall James & Associates LLC grew its holdings in shares of Pacira BioSciences by 6.8% during the 3rd quarter. Rice Hall James & Associates LLC now owns 968,485 shares of the company’s stock valued at $29,713,000 after purchasing an additional 61,680 shares during the last quarter. Institutional investors own 99.73% of the company’s stock.

Insider Activity at Pacira BioSciences

In related 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 value of $31,628.22. Following the completion of the sale, the director now directly owns 140,384 shares of the company’s stock, valued at approximately $4,165,193.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Gary W. Pace sold 90,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 22,127 shares of the company’s stock, valued at $677,086.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gary W. Pace sold 1,066 shares of Pacira BioSciences stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $29.67, for a total value of $31,628.22. Following the sale, the director now owns 140,384 shares in the company, valued at $4,165,193.28. The disclosure for this sale can be found here. 6.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PCRX. JPMorgan Chase & Co. started coverage on shares of Pacira BioSciences in a research report on Thursday, March 7th. They issued an “overweight” rating and a $45.00 target price on the stock. Barclays dropped their price objective on shares of Pacira BioSciences from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, May 8th. HC Wainwright restated a “buy” rating and issued a $57.00 price target on shares of Pacira BioSciences in a research report on Wednesday, May 8th. Needham & Company LLC cut their target price on Pacira BioSciences from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Finally, Wedbush reissued an “outperform” rating and set a $57.00 target price on shares of Pacira BioSciences in a research report on Thursday, February 8th. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $47.40.

Pacira BioSciences Stock Performance

PCRX opened at $31.51 on Friday. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 22.03 and a beta of 0.77. The company’s fifty day moving average price is $28.34 and its two-hundred day moving average price is $29.60. Pacira BioSciences, Inc. has a 1-year low of $25.33 and a 1-year high of $42.63. The company has a current ratio of 5.81, a quick ratio of 4.78 and a debt-to-equity ratio of 0.57.

Pacira BioSciences (NASDAQ:PCRX) last announced its quarterly earnings results on Thursday, February 29th. The company reported $0.71 earnings per share for the quarter, meeting the consensus estimate of $0.71. The business had revenue of $181.24 million for the quarter, compared to analysts’ expectations of $180.60 million. Pacira BioSciences had a net margin of 10.34% and a return on equity of 12.98%. On average, analysts expect that Pacira BioSciences, Inc. will post 2.17 EPS for the current fiscal year.

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.