Pacira BioSciences, Inc. $PCRX Stake Lifted by Gagnon Securities LLC

Gagnon Securities LLC grew its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 2.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 624,805 shares of the company’s stock after acquiring an additional 16,188 shares during the period. Pacira BioSciences comprises 2.7% of Gagnon Securities LLC’s investment portfolio, making the stock its 14th biggest position. Gagnon Securities LLC’s holdings in Pacira BioSciences were worth $15,651,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. purchased a new stake in shares of Pacira BioSciences during the 1st quarter worth approximately $46,000. Global Retirement Partners LLC purchased a new position in Pacira BioSciences in the second quarter valued at approximately $51,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Pacira BioSciences in the third quarter valued at approximately $51,000. State of Wyoming bought a new position in Pacira BioSciences during the second quarter valued at $78,000. Finally, PNC Financial Services Group Inc. grew its holdings in Pacira BioSciences by 15.1% during the first quarter. PNC Financial Services Group Inc. now owns 3,751 shares of the company’s stock valued at $85,000 after purchasing an additional 492 shares during the period. 99.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on PCRX. JPMorgan Chase & Co. raised Pacira BioSciences from an “underweight” rating to a “neutral” rating and set a $36.50 target price for the company in a research report on Thursday, October 8th. Jefferies Financial Group cut Pacira BioSciences from a “buy” rating to a “hold” rating and set a $36.00 price target on the stock. in a research report on Thursday, October 8th. HC Wainwright downgraded Pacira BioSciences from a “buy” rating to a “hold” rating and cut their price target for the stock from $38.00 to $36.50 in a research note on Friday, October 9th. Leerink Partners initiated coverage on Pacira BioSciences in a report on Wednesday, September 9th. They issued a “market perform” rating and a $28.00 price objective for the company. Finally, Truist Financial cut Pacira BioSciences from a “buy” rating to a “hold” rating and boosted their price objective for the company from $31.00 to $36.50 in a research note on Friday, October 9th. One equities research analyst has rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Pacira BioSciences presently has a consensus rating of “Hold” and a consensus price target of $33.33.

Pacira BioSciences Stock Performance

NASDAQ PCRX opened at $36.46 on Thursday. The firm has a market cap of $1.46 billion, a P/E ratio of 23.39 and a beta of 0.21. The company has a quick ratio of 3.65, a current ratio of 4.68 and a debt-to-equity ratio of 0.41. The company’s 50 day moving average is $30.79 and its 200-day moving average is $25.45. Pacira BioSciences, Inc. has a 12-month low of $18.80 and a 12-month high of $36.67.

Pacira BioSciences (NASDAQ:PCRX) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.05). Pacira BioSciences had a return on equity of 10.82% and a net margin of 5.08%. The business had revenue of $176.65 million during the quarter, compared to the consensus estimate of $181.94 million. Sell-side analysts predict that Pacira BioSciences, Inc. will post 1.86 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Lauren Riker sold 6,000 shares of Pacira BioSciences stock in a transaction on Thursday, October 8th. The stock was sold at an average price of $36.32, for a total value of $217,920.00. Following the completion of the transaction, the senior vice president directly owned 62,284 shares in the company, valued at approximately $2,262,154.88. The trade was a 8.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Slonin sold 3,040 shares of Pacira BioSciences stock in a transaction on Monday, August 17th. The shares were sold at an average price of $23.23, for a total value of $70,619.20. Following the completion of the transaction, the insider owned 216,384 shares of the company’s stock, valued at approximately $5,026,600.32. This trade represents a 1.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 6.40% of the company’s stock.

Pacira BioSciences Company Profile

Pacira BioSciences is a biopharmaceutical company focused on non-opioid approaches to pain management and related health needs. Its portfolio includes medicines and a device intended for use in surgical, musculoskeletal and other care settings. The company’s products include EXPAREL, a long-acting bupivacaine formulation used for postsurgical pain management; ZILRETTA, an extended-release corticosteroid injection for knee osteoarthritis pain; and the iovera system, which uses targeted cold to temporarily block peripheral nerves and relieve pain.