Hennion & Walsh Asset Management Inc. Buys 87,210 Shares of Pacira BioSciences, Inc. $PCRX

Hennion & Walsh Asset Management Inc. boosted its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 171.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,105 shares of the company’s stock after buying an additional 87,210 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Pacira BioSciences were worth $3,574,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its position in shares of Pacira BioSciences by 17.8% during the second quarter. PNC Financial Services Group Inc. now owns 3,511 shares of the company’s stock worth $84,000 after acquiring an additional 531 shares during the period. Hantz Financial Services Inc. boosted its holdings in shares of Pacira BioSciences by 175.4% in the third quarter. Hantz Financial Services Inc. now owns 1,132 shares of the company’s stock valued at $29,000 after purchasing an additional 721 shares during the period. Inspire Investing LLC grew its stake in Pacira BioSciences by 5.1% in the third quarter. Inspire Investing LLC now owns 17,402 shares of the company’s stock worth $448,000 after purchasing an additional 846 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Pacira BioSciences by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,242 shares of the company’s stock worth $677,000 after purchasing an additional 1,165 shares during the period. Finally, Exchange Traded Concepts LLC increased its holdings in Pacira BioSciences by 1.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 76,838 shares of the company’s stock worth $1,989,000 after purchasing an additional 1,240 shares during the period. 99.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PCRX. Barclays dropped their price target on Pacira BioSciences from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 26th. Needham & Company LLC reissued a “buy” rating and set a $30.00 target price on shares of Pacira BioSciences in a research report on Friday, January 9th. Weiss Ratings restated a “sell (d+)” rating on shares of Pacira BioSciences in a report on Monday, December 29th. Wall Street Zen cut shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. Finally, HC Wainwright reissued a “buy” rating and set a $38.00 price objective on shares of Pacira BioSciences in a report on Friday, January 9th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $30.25.

Insider Buying and Selling at Pacira BioSciences

In other Pacira BioSciences news, insider Jonathan Slonin sold 3,261 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $22.82, for a total value of $74,416.02. Following the completion of the sale, the insider owned 223,640 shares of the company’s stock, valued at approximately $5,103,464.80. This trade represents a 1.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Lauren Riker sold 4,000 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $20.81, for a total value of $83,240.00. Following the sale, the senior vice president owned 52,313 shares in the company, valued at $1,088,633.53. The trade was a 7.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 8,677 shares of company stock worth $191,980. 6.40% of the stock is owned by company insiders.

Pacira BioSciences Trading Up 1.7%

NASDAQ:PCRX opened at $23.27 on Tuesday. The stock has a market capitalization of $942.20 million, a price-to-earnings ratio of 155.13 and a beta of 0.21. Pacira BioSciences, Inc. has a 52 week low of $18.80 and a 52 week high of $27.64. The company has a quick ratio of 3.28, a current ratio of 4.54 and a debt-to-equity ratio of 0.54. The firm has a 50 day moving average of $21.96 and a 200 day moving average of $23.33.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.28). Pacira BioSciences had a return on equity of 10.39% and a net margin of 0.97%.The business had revenue of $196.87 million for the quarter, compared to analyst estimates of $201.93 million. During the same period in the previous year, the company posted $0.91 earnings per share. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Pacira BioSciences, Inc. will post 2.41 earnings per share for the current fiscal year.

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.