Rice Hall James & Associates LLC Invests $2.37 Million in Pacira BioSciences, Inc. $PCRX

Rice Hall James & Associates LLC purchased a new position in Pacira BioSciences, Inc. (NASDAQ:PCRX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 93,396 shares of the company’s stock, valued at approximately $2,369,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Pacira BioSciences in the 2nd quarter valued at about $191,000. Global Retirement Partners LLC purchased a new position in shares of Pacira BioSciences during the second quarter worth approximately $51,000. Bank of New York Mellon Corp bought a new stake in shares of Pacira BioSciences during the second quarter valued at approximately $7,532,000. State of Wyoming bought a new stake in shares of Pacira BioSciences during the second quarter valued at approximately $78,000. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of Pacira BioSciences in the second quarter valued at approximately $2,399,000. Institutional investors own 99.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Weiss Ratings raised Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Needham & Company LLC upped their target price on Pacira BioSciences from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Truist Financial began coverage on Pacira BioSciences in a research report on Monday. They set a “buy” rating and a $30.00 price target on the stock. Royal Bank Of Canada raised their price target 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. Finally, Wall Street Zen downgraded Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Sunday. 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $30.20.

Insiders Place Their Bets

In related 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 completion of the sale, the insider directly owned 216,384 shares in the company, valued at $5,026,600.32. This represents a 1.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Lauren Riker sold 6,115 shares of the firm’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 sale, the senior vice president directly owned 62,284 shares in the company, valued at approximately $1,463,674. The trade was a 8.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 Price Performance

NASDAQ PCRX opened at $24.00 on Wednesday. The company has a market cap of $956.64 million, a PE ratio of 68.57 and a beta of 0.27. The firm’s 50 day moving average price is $24.82 and its 200-day moving average price is $23.60. 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.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.08. The company had revenue of $192.40 million during the quarter, compared to the consensus estimate of $191.06 million. Pacira BioSciences had a net margin of 1.96% and a return on equity of 9.68%. Pacira BioSciences’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.74 earnings per share. Sell-side analysts forecast that Pacira BioSciences, Inc. will post 1.98 EPS for the current fiscal year.

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.