Hennion & Walsh Asset Management Inc. Increases Position in Pacira BioSciences, Inc. $PCRX

Hennion & Walsh Asset Management Inc. boosted its position in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 31.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 203,520 shares of the company’s stock after acquiring an additional 48,124 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Pacira BioSciences were worth $5,163,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its position in shares of Pacira BioSciences by 5,900.0% during 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 position in shares of Pacira BioSciences during the first quarter worth approximately $46,000. Kestra Advisory Services LLC purchased a new position in shares of Pacira BioSciences during the fourth quarter worth approximately $48,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Pacira BioSciences in the 4th quarter worth approximately $51,000. Finally, Global Retirement Partners LLC lifted its holdings in shares of Pacira BioSciences by 479.4% in the 4th quarter. Global Retirement Partners LLC now owns 2,028 shares of the company’s stock worth $52,000 after acquiring an additional 1,678 shares during the last quarter. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Price Performance

Shares of Pacira BioSciences stock opened at $25.02 on Monday. 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 52-week low of $18.80 and a 52-week high of $27.66. The stock has a market capitalization of $997.30 million, a price-to-earnings ratio of 71.49 and a beta of 0.27. The company’s 50 day moving average price is $24.69 and its 200-day moving average price is $23.43.

Pacira BioSciences (NASDAQ:PCRX) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. The company had revenue of $192.40 million during the quarter, compared to analyst estimates of $191.06 million. Pacira BioSciences had a net margin of 1.96% and a return on equity of 9.68%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.74 EPS. Equities research analysts forecast that Pacira BioSciences, Inc. will post 1.94 EPS for the current year.

Analysts Set New Price Targets

PCRX has been the topic of several recent research reports. Weiss Ratings raised shares of Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Wall Street Zen upgraded shares of Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Royal Bank Of Canada raised their price objective on Pacira BioSciences from $24.00 to $25.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 5th. Needham & Company LLC lifted their price objective on Pacira BioSciences from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, HC Wainwright reissued a “buy” rating and issued a $38.00 target price on shares of Pacira BioSciences in a research note on Wednesday, July 1st. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $29.80.

Insider Activity

In other Pacira BioSciences news, SVP Lauren Riker sold 6,115 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $23.50, for a total value of $143,702.50. Following the transaction, the senior vice president owned 62,284 shares in the company, valued at approximately $1,463,674. The trade was a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 6.40% of the company’s stock.

Pacira BioSciences Company 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.