HGK Asset Management Inc. Increases Stock Holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX)


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HGK Asset Management Inc. increased its holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 3.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,379 shares of the company’s stock after purchasing an additional 452 shares during the period. HGK Asset Management Inc.’s holdings in Pacira BioSciences were worth $868,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Penserra Capital Management LLC grew its position in Pacira BioSciences by 171.9% during the fourth quarter. Penserra Capital Management LLC now owns 995 shares of the company’s stock valued at $59,000 after acquiring an additional 629 shares during the period. Amundi Pioneer Asset Management Inc. purchased a new stake in Pacira BioSciences during the first quarter valued at about $65,000. Strs Ohio grew its position in Pacira BioSciences by 228.6% during the third quarter. Strs Ohio now owns 2,300 shares of the company’s stock valued at $138,000 after acquiring an additional 1,600 shares during the period. Next Capital Management LLC purchased a new stake in Pacira BioSciences during the fourth quarter valued at about $209,000. Finally, Kestra Advisory Services LLC purchased a new stake in Pacira BioSciences during the fourth quarter valued at about $209,000.

A number of brokerages have commented on PCRX. Northland Securities cut Pacira BioSciences from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $72.00 to $75.00 in a research note on Thursday, February 11th. Piper Sandler boosted their price objective on Pacira BioSciences from $65.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 20th. Royal Bank of Canada boosted their price objective on Pacira BioSciences from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 6th. Barclays boosted their price objective on Pacira BioSciences from $79.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, February 26th. Finally, SVB Leerink cut Pacira BioSciences from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $63.00 to $75.00 in a research note on Thursday, January 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $75.92.

In other news, insider Kristen Marie Williams sold 21,823 shares of the stock in a transaction on Tuesday, April 13th. The stock was sold at an average price of $66.95, for a total transaction of $1,461,049.85. Following the completion of the sale, the insider now owns 27,387 shares in the company, valued at approximately $1,833,559.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Lauren Bullaro Riker sold 1,520 shares of the stock in a transaction on Monday, March 15th. The shares were sold at an average price of $73.28, for a total value of $111,385.60. Following the sale, the vice president now owns 14,701 shares of the company’s stock, valued at approximately $1,077,289.28. The disclosure for this sale can be found here. Insiders have sold a total of 175,129 shares of company stock valued at $12,470,929 in the last quarter. Insiders own 5.80% of the company’s stock.

NASDAQ PCRX traded down $3.27 on Friday, hitting $63.07. 1,008,258 shares of the stock traded hands, compared to its average volume of 488,850. The stock has a 50-day moving average of $70.38 and a 200 day moving average of $65.15. Pacira BioSciences, Inc. has a twelve month low of $33.47 and a twelve month high of $80.00. The company has a market capitalization of $2.77 billion, a P/E ratio of 22.21, a price-to-earnings-growth ratio of 0.82 and a beta of 1.27. The company has a current ratio of 7.63, a quick ratio of 6.84 and a debt-to-equity ratio of 0.78.

Pacira BioSciences (NASDAQ:PCRX) last posted its earnings results on Wednesday, February 24th. The company reported $0.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.06. The company had revenue of $130.90 million during the quarter, compared to analyst estimates of $130.91 million. Pacira BioSciences had a return on equity of 10.71% and a net margin of 29.95%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.56 earnings per share. As a group, equities research analysts expect that Pacira BioSciences, Inc. will post 1.29 earnings per share for the current year.

Pacira BioSciences Profile

Pacira BioSciences, Inc provides non-opioid pain management and regenerative health solutions for health care practitioners and their patients in the United States. The company develops products based on its proprietary DepoFoam product delivery technology that encapsulates drugs without altering their molecular structure.

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

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