Pacer Advisors Inc. Reduces Position in Pacira BioSciences, Inc. $PCRX

Pacer Advisors Inc. trimmed its position in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 48.2% during the third quarter, Holdings Channel.com reports. The firm owned 200,202 shares of the company’s stock after selling 186,427 shares during the period. Pacer Advisors Inc.’s holdings in Pacira BioSciences were worth $5,159,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alyeska Investment Group L.P. acquired a new stake in Pacira BioSciences in the first quarter valued at $32,506,000. Balyasny Asset Management L.P. increased its holdings in shares of Pacira BioSciences by 36.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,130,733 shares of the company’s stock valued at $50,925,000 after acquiring an additional 565,288 shares during the last quarter. American Century Companies Inc. raised its position 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 worth $28,262,000 after acquiring an additional 515,090 shares in the last quarter. EcoR1 Capital LLC acquired a new stake in shares of Pacira BioSciences during the 2nd quarter worth about $10,934,000. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Pacira BioSciences by 88.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 855,488 shares of the company’s stock worth $21,259,000 after purchasing an additional 401,227 shares during the last quarter. Institutional investors and hedge funds own 99.73% of the company’s stock.

Pacira BioSciences Stock Down 1.7%

PCRX stock opened at $26.06 on Tuesday. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 57.91 and a beta of 0.23. The company has a fifty day moving average price of $23.83 and a 200 day moving average price of $24.17. The company has a debt-to-equity ratio of 0.52, a current ratio of 5.26 and a quick ratio of 3.78. Pacira BioSciences, Inc. has a 12 month low of $18.17 and a 12 month high of $27.64.

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

Analyst Ratings Changes

PCRX has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Pacira BioSciences in a research note on Monday, December 22nd. Wall Street Zen raised shares of Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Barclays assumed coverage on shares of Pacira BioSciences in a research report on Tuesday, December 9th. They issued an “equal weight” rating and a $27.00 price target for the company. Truist Financial decreased their price objective on shares of Pacira BioSciences from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $38.00 target price on shares of Pacira BioSciences in a research report on Monday, November 17th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Pacira BioSciences has an average rating of “Hold” and a consensus price target of $28.20.

Insider Activity

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 completion of the sale, the chief financial officer directly owned 56,250 shares of the company’s stock, valued at $1,407,937.50. This represents a 22.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan Slonin sold 3,960 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $24.09, for a total value of $95,396.40. Following 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 SEC filing for this sale provides additional information. Insiders sold a total of 32,920 shares of company stock worth $817,544 in the last 90 days. 6.40% of the stock is currently owned by insiders.

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.