Empowered Funds LLC Invests $5.08 Million in Pacira BioSciences, Inc. $PCRX

Empowered Funds LLC acquired a new stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 200,073 shares of the company’s stock, valued at approximately $5,076,000.

A number of other hedge funds also recently made changes to their positions in PCRX. Hillsdale Investment Management Inc. bought a new stake in Pacira BioSciences during the fourth quarter worth about $7,976,000. Gagnon Advisors LLC increased its position in shares of Pacira BioSciences by 22.3% during the 4th quarter. Gagnon Advisors LLC now owns 260,908 shares of the company’s stock valued at $6,752,000 after purchasing an additional 47,506 shares during the last quarter. LSV Asset Management increased its position in shares of Pacira BioSciences by 179.8% during the 4th quarter. LSV Asset Management now owns 319,800 shares of the company’s stock valued at $8,276,000 after purchasing an additional 205,500 shares during the last quarter. Wedge Capital Management L L P NC purchased a new position in shares of Pacira BioSciences during the 2nd quarter valued at about $2,399,000. Finally, Hennion & Walsh Asset Management Inc. lifted its position in Pacira BioSciences by 31.0% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 203,520 shares of the company’s stock worth $5,163,000 after buying an additional 48,124 shares during the last quarter. 99.73% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Lauren Riker sold 6,115 shares of Pacira BioSciences stock in a transaction on 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 directly owned 62,284 shares of the company’s stock, valued at $1,463,674. The trade was a 8.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $23.23, for a total transaction of $70,619.20. Following the sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. 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 Analysts Forecast Growth

Several analysts have issued reports on the company. Royal Bank Of Canada upped their target price on Pacira BioSciences from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 5th. HC Wainwright reissued a “buy” rating and set a $38.00 price target on shares of Pacira BioSciences in a research note on Wednesday, July 1st. Wall Street Zen lowered shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 16th. Needham & Company LLC upped their price objective on shares of Pacira BioSciences from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, Truist Financial started coverage on shares of Pacira BioSciences in a report on Monday, August 17th. They set a “buy” rating and a $30.00 target price on the stock. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $30.20.

Pacira BioSciences Trading Up 0.5%

Shares of PCRX stock opened at $25.90 on Tuesday. The stock has a market capitalization of $1.03 billion, a PE ratio of 74.00 and a beta of 0.27. Pacira BioSciences, Inc. has a 1-year low of $18.80 and a 1-year high of $27.66. The business has a 50-day moving average of $25.25 and a 200 day moving average of $23.88. 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 posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.73 earnings per share (EPS) 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 analyst estimates of $191.06 million. Pacira BioSciences had a return on equity of 9.68% and a net margin of 1.96%.Pacira BioSciences’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the company earned $0.74 EPS. As a group, 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.