Wedge Capital Management L L P NC Invests $2.40 Million in Pacira BioSciences, Inc. $PCRX

Wedge Capital Management L L P NC bought a new position in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 94,554 shares of the company’s stock, valued at approximately $2,399,000.

Other institutional investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its holdings in Pacira BioSciences by 5,900.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,500 shares of the company’s stock valued at $39,000 after purchasing an additional 1,475 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Pacira BioSciences during the 1st quarter worth about $46,000. Kestra Advisory Services LLC purchased a new stake in shares of Pacira BioSciences during the fourth quarter worth approximately $48,000. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Pacira BioSciences in the 4th quarter valued at approximately $51,000. Finally, Global Retirement Partners LLC raised its stake in Pacira BioSciences by 479.4% in the fourth quarter. Global Retirement Partners LLC now owns 2,028 shares of the company’s stock valued at $52,000 after buying an additional 1,678 shares in the last quarter. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Pacira BioSciences news, SVP Lauren Riker sold 6,115 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were 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 of the company’s stock, valued at $1,463,674. This trade represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 6.40% of the company’s stock.

Pacira BioSciences Stock Performance

Shares of NASDAQ PCRX opened at $23.18 on Friday. The company has a market cap of $923.95 million, a PE ratio of 66.23 and a beta of 0.27. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.04 and a quick ratio of 3.94. Pacira BioSciences, Inc. has a 12 month low of $18.80 and a 12 month high of $27.66. The company has a 50-day simple moving average of $24.80 and a 200-day simple moving average of $23.54.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings results 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. The company had revenue of $192.40 million for the quarter, compared to analyst estimates of $191.06 million. Pacira BioSciences had a return on equity of 9.68% and a net margin of 1.96%.The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.74 EPS. On average, equities analysts anticipate that Pacira BioSciences, Inc. will post 1.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Weiss Ratings raised Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. Royal Bank Of Canada raised their target price on shares of Pacira BioSciences from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 5th. HC Wainwright restated a “buy” rating and issued a $38.00 price target on shares of Pacira BioSciences in a research note on Wednesday, July 1st. Finally, Needham & Company LLC boosted their price objective on shares of Pacira BioSciences from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Three investment 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 MarketBeat.com, Pacira BioSciences presently has an average rating of “Hold” and an average price target of $29.80.

About Pacira BioSciences

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.