Foster & Motley Inc. Acquires Shares of 57,817 Pacira BioSciences, Inc. $PCRX

Foster & Motley Inc. bought a new position in Pacira BioSciences, Inc. (NASDAQ:PCRX) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 57,817 shares of the company’s stock, valued at approximately $1,467,000.

A number of other large investors also recently modified their holdings of PCRX. Balyasny Asset Management L.P. grew its stake in shares of Pacira BioSciences by 36.1% during the second quarter. Balyasny Asset Management L.P. now owns 2,130,733 shares of the company’s stock valued at $50,925,000 after purchasing an additional 565,288 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Pacira BioSciences by 49.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company’s stock valued at $27,454,000 after purchasing an additional 367,869 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in Pacira BioSciences in the 4th quarter worth approximately $7,976,000. Bank of New York Mellon Corp bought a new position in Pacira BioSciences in the 2nd quarter worth approximately $7,532,000. Finally, LSV Asset Management lifted its holdings in Pacira BioSciences by 179.8% during the 4th quarter. LSV Asset Management now owns 319,800 shares of the company’s stock worth $8,276,000 after buying an additional 205,500 shares in the last quarter. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Jonathan Slonin sold 3,040 shares of the 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 owned 216,384 shares of the company’s stock, valued at $5,026,600.32. This represents a 1.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 on Thursday, June 11th. The stock was sold at an average price of $23.50, for a total value of $143,702.50. Following the completion of the transaction, the senior vice president owned 62,284 shares in the company, valued at $1,463,674. This represents a 8.94% decrease in their ownership of the stock. 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. Corporate insiders own 6.40% of the company’s stock.

Wall Street Analyst Weigh In

PCRX has been the topic of a number of recent research reports. Wall Street Zen lowered Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Truist Financial started coverage on Pacira BioSciences in a research report on Monday. They set a “buy” rating and a $30.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and set a $38.00 price target on shares of Pacira BioSciences in a research note on Wednesday, July 1st. Weiss Ratings reiterated a “sell (d+)” rating on shares of Pacira BioSciences in a report on Monday. Finally, Royal Bank Of Canada lifted their price objective on Pacira BioSciences from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 5th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Pacira BioSciences currently has an average rating of “Hold” and an average target price of $30.20.

Pacira BioSciences Trading Up 1.5%

PCRX opened at $24.36 on Thursday. The firm has a 50 day simple moving average of $24.84 and a 200 day simple moving average of $23.63. Pacira BioSciences, Inc. has a fifty-two week low of $18.80 and a fifty-two week high of $27.66. The company has a market cap of $970.99 million, a price-to-earnings ratio of 69.60 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 (NASDAQ:PCRX) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. Pacira BioSciences had a net margin of 1.96% and a return on equity of 9.68%. The firm had revenue of $192.40 million for the quarter, compared to analysts’ expectations of $191.06 million. During the same period last year, the firm earned $0.74 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, sell-side analysts anticipate that Pacira BioSciences, Inc. will post 1.98 earnings per share for the current year.

Pacira BioSciences 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.