VIRGINIA RETIREMENT SYSTEMS ET Al Purchases 17,500 Shares of Pacira BioSciences, Inc. $PCRX

VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 52.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,050 shares of the company’s stock after buying an additional 17,500 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Pacira BioSciences were worth $1,279,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PCRX. Global Retirement Partners LLC acquired a new stake in shares of Pacira BioSciences during the 2nd quarter worth approximately $51,000. Meeder Asset Management Inc. acquired a new position in Pacira BioSciences in the first quarter valued at approximately $46,000. State of Wyoming acquired a new position in Pacira BioSciences in the second quarter valued at approximately $78,000. PNC Financial Services Group Inc. grew its position in Pacira BioSciences by 15.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,751 shares of the company’s stock worth $85,000 after acquiring an additional 492 shares during the period. Finally, Keating Financial Advisory Services Inc. purchased a new position in Pacira BioSciences in the second quarter worth approximately $110,000. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Insider Buying and Selling

In other Pacira BioSciences news, insider Jonathan Slonin sold 3,040 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $23.23, for a total transaction of $70,619.20. Following the transaction, the insider directly owned 216,384 shares in the company, valued at $5,026,600.32. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Lauren Riker sold 6,000 shares of the firm’s 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 transaction, the senior vice president owned 62,284 shares of the company’s stock, valued at approximately $2,262,154.88. This represents a 8.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.40% of the stock is owned by insiders.

Pacira BioSciences Stock Performance

Shares of PCRX stock opened at $36.40 on Thursday. The firm’s 50 day moving average price is $29.75 and its 200-day moving average price is $25.04. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.94 and a current ratio of 5.04. Pacira BioSciences, Inc. has a one year low of $18.80 and a one year high of $36.67. The firm has a market cap of $1.45 billion, a P/E ratio of 104.00 and a beta of 0.21.

Pacira BioSciences (NASDAQ:PCRX) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.08. Pacira BioSciences had a net margin of 1.96% and a return on equity of 9.68%. The firm had revenue of $192.40 million during the quarter, compared to analysts’ expectations of $191.06 million. During the same quarter last year, the company posted $0.74 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, equities research analysts predict that Pacira BioSciences, Inc. will post 1.86 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Zacks Research cut Pacira BioSciences from a “hold” rating to a “strong sell” rating in a research note on Monday, October 5th. HC Wainwright lowered Pacira BioSciences from a “buy” rating to a “hold” rating and decreased their price target for the company from $38.00 to $36.50 in a research note on Friday, October 9th. Royal Bank Of Canada increased their price target on Pacira BioSciences from $25.00 to $36.50 and gave the stock a “sector perform” rating in a report on Friday, October 9th. Wall Street Zen raised Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 26th. Finally, Truist Financial downgraded Pacira BioSciences from a “buy” rating to a “hold” rating and raised their price objective for the stock from $31.00 to $36.50 in a research report on Friday, October 9th. One investment analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $33.33.

About Pacira BioSciences

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid pain-management and regenerative health solutions. The company’s products are designed to address acute postsurgical pain and osteoarthritis-related pain while supporting efforts to reduce reliance on opioid medications.

Pacira’s lead product is EXPAREL, an extended-release formulation of bupivacaine administered by injection for postsurgical pain management. The company also markets ZILRETTA, an extended-release corticosteroid injection indicated for osteoarthritis knee pain, and iovera°, a cryoanalgesia system that uses controlled cooling to temporarily block peripheral nerves and relieve pain.

Formerly known as Pacira Pharmaceuticals, the company adopted the Pacira BioSciences name to reflect its broader focus on innovative pain and regenerative-health therapies.