Pacira BioSciences, Inc. $PCRX Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue grew its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 7.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,561 shares of the company’s stock after purchasing an additional 1,977 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of Pacira BioSciences worth $658,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PCRX. GAMMA Investing LLC raised its holdings in Pacira BioSciences by 5,187.8% during the first quarter. GAMMA Investing LLC now owns 91,796 shares of the company’s stock worth $2,281,000 after purchasing an additional 90,060 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Pacira BioSciences by 48.9% during the first quarter. Assenagon Asset Management S.A. now owns 673,289 shares of the company’s stock worth $16,731,000 after purchasing an additional 221,196 shares in the last quarter. Wealthquest Corp acquired a new stake in Pacira BioSciences during the first quarter worth approximately $59,000. Robeco Institutional Asset Management B.V. raised its holdings in Pacira BioSciences by 18.2% during the first quarter. Robeco Institutional Asset Management B.V. now owns 82,694 shares of the company’s stock worth $2,055,000 after purchasing an additional 12,750 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its holdings in Pacira BioSciences by 24.7% during the first quarter. Illinois Municipal Retirement Fund now owns 25,318 shares of the company’s stock worth $629,000 after purchasing an additional 5,011 shares in the last quarter. Institutional investors and hedge funds own 99.73% of the company’s stock.

Insider Buying and Selling

In other Pacira BioSciences news, Director Marcelo Bigal sold 4,912 shares of the firm’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $23.67, for a total value of $116,267.04. Following the completion of the sale, the director owned 11,393 shares of the company’s stock, valued at approximately $269,672.31. This trade represents a 30.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 6.40% of the company’s stock.

Pacira BioSciences Stock Performance

NASDAQ:PCRX opened at $23.62 on Wednesday. Pacira BioSciences, Inc. has a 1-year low of $15.16 and a 1-year high of $27.64. 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 firm’s fifty day moving average price is $25.35 and its 200 day moving average price is $24.88. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -8.50 and a beta of 0.40.

Pacira BioSciences (NASDAQ:PCRX) last released its earnings results on Tuesday, August 5th. The company reported $0.74 EPS 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 during the quarter, compared to the consensus estimate of $183.11 million. During the same quarter last year, the company earned $0.96 earnings per share. Pacira BioSciences’s quarterly revenue was up 1.7% compared to the same quarter last year. Pacira BioSciences has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Pacira BioSciences, Inc. will post 2.41 EPS for the current year.

Analysts Set New Price Targets

PCRX has been the topic of a number of research reports. Truist Financial upgraded shares of Pacira BioSciences from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Friday, July 25th. Weiss Ratings restated a “sell (d)” rating on shares of Pacira BioSciences in a research report on Saturday, September 27th. Finally, Zacks Research upgraded shares of Pacira BioSciences from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 14th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Pacira BioSciences has a consensus rating of “Hold” and an average target price of $33.40.

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.