Gagnon Advisors LLC Grows Stock Holdings in Pacira BioSciences, Inc. $PCRX

Gagnon Advisors LLC grew its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 22.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 260,908 shares of the company’s stock after acquiring an additional 47,506 shares during the quarter. Pacira BioSciences comprises approximately 4.3% of Gagnon Advisors LLC’s investment portfolio, making the stock its 11th largest holding. Gagnon Advisors LLC’s holdings in Pacira BioSciences were worth $6,752,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Doma Perpetual Capital Management LLC increased its holdings in Pacira BioSciences by 49.7% in the 3rd quarter. Doma Perpetual Capital Management LLC now owns 2,701,324 shares of the company’s stock worth $69,613,000 after buying an additional 897,255 shares during the period. Impax Asset Management Group plc increased its holdings in Pacira BioSciences by 25.0% in the 4th quarter. Impax Asset Management Group plc now owns 750,027 shares of the company’s stock worth $19,411,000 after buying an additional 150,000 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in Pacira BioSciences by 171.4% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 138,105 shares of the company’s stock worth $3,574,000 after buying an additional 87,210 shares during the period. Assenagon Asset Management S.A. increased its holdings in Pacira BioSciences by 87.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 435,143 shares of the company’s stock worth $11,262,000 after buying an additional 202,773 shares during the period. Finally, Hillsdale Investment Management Inc. acquired a new position in Pacira BioSciences in the 4th quarter worth approximately $7,976,000. Institutional investors and hedge funds own 99.73% of the company’s stock.

Pacira BioSciences Price Performance

Shares of NASDAQ PCRX opened at $22.99 on Friday. The stock has a market capitalization of $904.66 million, a price-to-earnings ratio of 191.60 and a beta of 0.29. Pacira BioSciences, Inc. has a 12 month low of $18.80 and a 12 month high of $27.64. The firm’s 50 day simple moving average is $23.58 and its 200-day simple moving average is $23.27. The company has a debt-to-equity ratio of 0.56, a current ratio of 4.73 and a quick ratio of 3.35.

Pacira BioSciences (NASDAQ:PCRX) last announced its earnings results on Thursday, April 30th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). Pacira BioSciences had a net margin of 0.70% and a return on equity of 10.24%. The business had revenue of $177.38 million for the quarter, compared to analysts’ expectations of $171.80 million. During the same quarter last year, the business earned $0.65 EPS. The company’s quarterly revenue was up 5.0% on a year-over-year basis. Analysts expect that Pacira BioSciences, Inc. will post 1.91 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on PCRX shares. Barclays cut their price target on shares of Pacira BioSciences from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, March 26th. Royal Bank Of Canada increased their price target on shares of Pacira BioSciences from $22.00 to $24.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Needham & Company LLC increased their price target on shares of Pacira BioSciences from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Wall Street Zen downgraded shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Finally, Weiss Ratings raised shares of Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $29.40.

Insider Activity

In other news, SVP Lauren Riker sold 6,115 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $23.50, for a total transaction of $143,702.50. Following the transaction, the senior vice president owned 62,284 shares in the company, valued at $1,463,674. This trade represents a 8.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Shawn Cross sold 12,941 shares of the stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $25.16, for a total value of $325,595.56. Following the transaction, the chief financial officer owned 105,341 shares in the company, valued at $2,650,379.56. This trade represents a 10.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 34,376 shares of company stock worth $846,312 in the last quarter. Corporate insiders own 6.40% of the company’s stock.

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.