US Bancorp DE Buys 537 Shares of Pacira BioSciences, Inc. $PCRX

US Bancorp DE raised its stake in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 31.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,270 shares of the company’s stock after acquiring an additional 537 shares during the period. US Bancorp DE’s holdings in Pacira BioSciences were worth $56,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PCRX. Point72 Asset Management L.P. acquired a new position in Pacira BioSciences in the fourth quarter valued at about $20,266,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Pacira BioSciences in the fourth quarter valued at approximately $8,558,000. Balyasny Asset Management L.P. acquired a new position in shares of Pacira BioSciences in the 4th quarter worth approximately $8,180,000. Nuveen Asset Management LLC grew its position in Pacira BioSciences by 109.9% during the 4th quarter. Nuveen Asset Management LLC now owns 625,917 shares of the company’s stock worth $11,792,000 after acquiring an additional 327,754 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Pacira BioSciences by 48.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 673,289 shares of the company’s stock worth $16,731,000 after acquiring an additional 221,196 shares during the last quarter. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Pacira BioSciences Trading Up 0.4%

Shares of NASDAQ PCRX opened at $24.89 on Tuesday. Pacira BioSciences, Inc. has a fifty-two week low of $12.61 and a fifty-two week high of $27.64. The firm has a market capitalization of $1.12 billion, a P/E ratio of -8.95 and a beta of 0.48. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.38 and a quick ratio of 1.91. The company’s 50 day simple moving average is $23.43 and its 200 day simple moving average is $24.58.

Pacira BioSciences (NASDAQ:PCRX) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Pacira BioSciences had a positive return on equity of 13.29% and a negative net margin of 18.08%. The company had revenue of $181.10 million for the quarter, compared to the consensus estimate of $183.11 million. During the same quarter in the prior year, the business posted $0.96 EPS. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. On average, analysts predict that Pacira BioSciences, Inc. will post 2.41 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on PCRX. Wall Street Zen raised Pacira BioSciences from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Truist Financial upgraded shares of Pacira BioSciences from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Friday, July 25th. Finally, Needham & Company LLC lowered their price objective on shares of Pacira BioSciences from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, May 9th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.83.

Insider Activity at Pacira BioSciences

In other Pacira BioSciences news, Director Marcelo Bigal sold 4,912 shares of Pacira BioSciences stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $23.67, for a total transaction of $116,267.04. Following the transaction, the director directly owned 11,393 shares in the company, valued at approximately $269,672.31. The trade was a 30.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Lauren Riker sold 5,578 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $26.21, for a total transaction of $146,199.38. Following the sale, the senior vice president directly owned 59,564 shares of the company’s stock, valued at $1,561,172.44. This represents a 8.56% decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by corporate insiders.

Pacira BioSciences Company Profile

Pacira Biosciences, Inc is a holding company, which engages in the provision of non-opioid pain management and regenerative health solutions to improve patients’ journeys along the neural pain pathway. Its products include EXPAREL, iovera, and DepoFoam. The company was founded in December 2006 and is headquartered in Tampa, FL.