Gagnon Securities LLC Buys 81,364 Shares of Pacira BioSciences, Inc. $PCRX

Gagnon Securities LLC lifted its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 22.1% in the third quarter, HoldingsChannel reports. The fund owned 449,717 shares of the company’s stock after acquiring an additional 81,364 shares during the period. Pacira BioSciences makes up approximately 2.3% of Gagnon Securities LLC’s holdings, making the stock its 17th largest holding. Gagnon Securities LLC’s holdings in Pacira BioSciences were worth $11,589,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PCRX. Balyasny Asset Management L.P. lifted its holdings in Pacira BioSciences by 36.1% during the second quarter. Balyasny Asset Management L.P. now owns 2,130,733 shares of the company’s stock valued at $50,925,000 after purchasing an additional 565,288 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Pacira BioSciences by 77.2% during the 2nd quarter. American Century Companies Inc. now owns 1,182,513 shares of the company’s stock valued at $28,262,000 after buying an additional 515,090 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Pacira BioSciences by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,143,190 shares of the company’s stock worth $27,326,000 after buying an additional 5,658 shares during the period. Goldman Sachs Group Inc. increased its stake in Pacira BioSciences by 49.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company’s stock worth $27,454,000 after buying an additional 367,869 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its holdings in Pacira BioSciences by 7.4% during the second quarter. Bridgeway Capital Management LLC now owns 460,273 shares of the company’s stock valued at $11,001,000 after acquiring an additional 31,744 shares during the period. Institutional investors own 99.73% of the company’s stock.

Wall Street Analysts Forecast Growth

PCRX has been the subject of a number of recent analyst reports. Wall Street Zen raised Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Truist Financial dropped their price target on Pacira BioSciences from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, November 7th. HC Wainwright reiterated a “buy” rating and set a $38.00 price objective on shares of Pacira BioSciences in a research report on Friday, January 9th. Weiss Ratings reissued a “sell (d+)” rating on shares of Pacira BioSciences in a report on Monday, December 29th. Finally, Barclays assumed coverage on shares of Pacira BioSciences in a research note on Tuesday, December 9th. They set an “equal weight” rating and a $27.00 target price for the company. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $30.75.

Insider Activity at Pacira BioSciences

In other Pacira BioSciences news, CFO Shawn Cross sold 15,896 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $25.03, for a total transaction of $397,876.88. Following the sale, the chief financial officer directly owned 56,250 shares in the company, valued at $1,407,937.50. This represents a 22.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jonathan Slonin sold 3,960 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $24.09, for a total value of $95,396.40. Following the completion of the sale, the insider directly owned 178,367 shares of the company’s stock, valued at $4,296,861.03. The trade was a 2.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 34,336 shares of company stock valued at $851,868. Insiders own 6.40% of the company’s stock.

Pacira BioSciences Trading Down 1.4%

PCRX stock opened at $20.09 on Friday. The firm has a fifty day moving average price of $23.81 and a 200 day moving average price of $23.95. Pacira BioSciences, Inc. has a fifty-two week low of $18.80 and a fifty-two week high of $27.64. The firm has a market cap of $864.27 million, a PE ratio of 44.65 and a beta of 0.22. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.78 and a current ratio of 5.26.

Pacira BioSciences (NASDAQ:PCRX) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. Pacira BioSciences had a net margin of 2.99% and a return on equity of 12.82%. The business had revenue of $179.52 million during the quarter, compared to analyst estimates of $182.86 million. During the same quarter last year, the business earned $0.79 earnings per share. Pacira BioSciences’s quarterly revenue was up 6.5% compared to the same quarter last year. Sell-side analysts anticipate that Pacira BioSciences, Inc. will post 2.41 earnings per share for the current fiscal year.

Pacira BioSciences Profile

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid, non-addictive pain management and regenerative health solutions. The company’s flagship product, EXPAREL, is a bupivacaine liposome injectable suspension designed to provide long-lasting postsurgical analgesia. EXPAREL is used by clinicians across a broad range of surgical procedures to reduce reliance on opioid medications and to help manage acute postoperative pain.

In addition to its marketed offering, Pacira maintains an active pipeline of investigational products aimed at addressing unmet needs in pain management and inflammation control.