VIRGINIA RETIREMENT SYSTEMS ET Al Acquires 23,700 Shares of Pacira BioSciences, Inc. $PCRX

VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 76.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 54,800 shares of the company’s stock after buying an additional 23,700 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Pacira BioSciences were worth $1,412,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Balyasny Asset Management L.P. grew its stake in Pacira BioSciences by 36.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,130,733 shares of the company’s stock valued at $50,925,000 after buying an additional 565,288 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Pacira BioSciences by 77.2% during the second quarter. American Century Companies Inc. now owns 1,182,513 shares of the company’s stock worth $28,262,000 after acquiring an additional 515,090 shares in the last quarter. EcoR1 Capital LLC bought a new position in shares of Pacira BioSciences in the second quarter worth $10,934,000. Jacobs Levy Equity Management Inc. grew its position in shares of Pacira BioSciences by 88.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 855,488 shares of the company’s stock valued at $21,259,000 after purchasing an additional 401,227 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Pacira BioSciences by 49.9% during the 1st 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 during the period. 99.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PCRX. Truist Financial dropped their price objective on Pacira BioSciences from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Barclays started coverage on shares of Pacira BioSciences in a report on Tuesday, December 9th. They issued an “equal weight” rating and a $27.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Pacira BioSciences in a research note on Monday. HC Wainwright reiterated a “buy” rating and issued a $38.00 target price on shares of Pacira BioSciences in a research note on Monday, November 17th. Finally, Wall Street Zen raised shares of Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. 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. According to MarketBeat.com, Pacira BioSciences currently has an average rating of “Hold” and an average target price of $28.20.

Pacira BioSciences Stock Down 5.5%

PCRX stock opened at $24.46 on Friday. The company’s 50 day moving average is $24.14 and its 200 day moving average is $24.20. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 54.36 and a beta of 0.23. The company has a current ratio of 5.26, a quick ratio of 3.78 and a debt-to-equity ratio of 0.52. Pacira BioSciences, Inc. has a 1-year low of $18.17 and a 1-year high of $27.64.

Pacira BioSciences (NASDAQ:PCRX) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. The business had revenue of $179.52 million during the quarter, compared to analysts’ expectations of $182.86 million. Pacira BioSciences had a net margin of 2.99% and a return on equity of 12.82%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.79 EPS. Sell-side analysts predict that Pacira BioSciences, Inc. will post 2.41 EPS for the current fiscal year.

Insider Buying and Selling at Pacira BioSciences

In related news, CFO Shawn Cross sold 15,896 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $25.03, for a total value of $397,876.88. Following the transaction, the chief financial officer owned 56,250 shares of the company’s stock, valued at $1,407,937.50. This represents a 22.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan Slonin sold 3,960 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $24.09, for a total value of $95,396.40. Following the sale, the insider owned 178,367 shares in the company, valued at $4,296,861.03. The trade was a 2.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 32,920 shares of company stock valued at $817,544 over the last quarter. 6.40% of the stock is owned by company insiders.

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.