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

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 52.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,050 shares of the company’s stock after purchasing an additional 17,500 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.13% of Pacira BioSciences worth $1,279,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new stake in Pacira BioSciences in the 2nd quarter worth about $7,532,000. Bank of America Corp DE acquired a new position in shares of Pacira BioSciences during the second quarter valued at approximately $6,089,000. Empowered Funds LLC acquired a new position in shares of Pacira BioSciences during the second quarter valued at approximately $5,076,000. PDT Partners LLC purchased a new position in shares of Pacira BioSciences in the second quarter valued at approximately $3,358,000. Finally, Man Group plc purchased a new position in shares of Pacira BioSciences in the second quarter valued at approximately $3,181,000. Institutional investors and hedge funds own 99.73% of the company’s stock.

Insider Activity at Pacira BioSciences

In related news, SVP Lauren Riker sold 6,000 shares of Pacira BioSciences stock in a transaction that occurred on Thursday, October 8th. The stock was sold at an average price of $36.32, for a total transaction of $217,920.00. Following the transaction, the senior vice president owned 62,284 shares in the company, valued at approximately $2,262,154.88. This trade represents a 8.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Slonin sold 3,040 shares of the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $23.23, for a total value of $70,619.20. Following the transaction, the insider directly owned 216,384 shares in the company, valued at $5,026,600.32. This trade represents a 1.39% 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. 6.40% of the stock is currently owned by company insiders.

Pacira BioSciences Trading Up 0.0%

PCRX opened at $36.40 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.04 and a quick ratio of 3.94. The company’s 50 day simple moving average is $29.75 and its two-hundred day simple moving average is $25.04. Pacira BioSciences, Inc. has a 1-year low of $18.80 and a 1-year high of $36.67. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 104.00 and a beta of 0.21.

Pacira BioSciences (NASDAQ:PCRX) last issued its earnings results on Tuesday, August 4th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.08. The business had revenue of $192.40 million for the quarter, compared to analysts’ expectations 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 period in the previous year, the firm posted $0.74 EPS. Analysts expect that Pacira BioSciences, Inc. will post 1.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PCRX has been the topic of a number of research analyst reports. Royal Bank Of Canada lifted their price target on Pacira BioSciences from $25.00 to $36.50 and gave the stock a “sector perform” rating in a research note on Friday, October 9th. Truist Financial downgraded Pacira BioSciences from a “buy” rating to a “hold” rating and increased their price objective for the company from $31.00 to $36.50 in a research note on Friday, October 9th. Jefferies Financial Group lowered Pacira BioSciences from a “buy” rating to a “hold” rating and set a $36.00 price objective on the stock. in a report on Thursday, October 8th. Needham & Company LLC cut shares of Pacira BioSciences from a “buy” rating to a “hold” rating in a research note on Thursday, October 8th. Finally, Zacks Research lowered shares of Pacira BioSciences from a “hold” rating to a “strong sell” rating in a report on Monday, October 5th. One research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Pacira BioSciences presently has a consensus 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.