Great Lakes Advisors LLC Sells 111,318 Shares of Pacira BioSciences, Inc. $PCRX

Great Lakes Advisors LLC lowered its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 51.3% in the third quarter, Holdings Channel reports. The firm owned 105,743 shares of the company’s stock after selling 111,318 shares during the period. Great Lakes Advisors LLC’s holdings in Pacira BioSciences were worth $2,725,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Gagnon Advisors LLC increased its position in Pacira BioSciences by 60.0% during the second quarter. Gagnon Advisors LLC now owns 213,402 shares of the company’s stock worth $5,100,000 after acquiring an additional 80,012 shares during the period. Exchange Traded Concepts LLC acquired a new stake in shares of Pacira BioSciences during the 3rd quarter valued at about $1,948,000. Hussman Strategic Advisors Inc. acquired a new stake in Pacira BioSciences during the third quarter valued at approximately $2,706,000. KLP Kapitalforvaltning AS boosted its stake in Pacira BioSciences by 48.5% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 35,200 shares of the company’s stock valued at $841,000 after buying an additional 11,500 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings 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 valued at $28,262,000 after acquiring an additional 515,090 shares during the period. 99.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PCRX shares. Barclays started coverage on shares of Pacira BioSciences in a report on Tuesday, December 9th. They set an “equal weight” rating and a $27.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $38.00 price target on shares of Pacira BioSciences in a research report on Friday, January 9th. Needham & Company LLC reissued a “buy” rating and set a $30.00 price target on shares of Pacira BioSciences in a research report on Friday, January 9th. Truist Financial decreased their price objective on Pacira BioSciences from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Pacira BioSciences in a research note on Monday, December 29th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $30.75.

Pacira BioSciences Trading Up 2.2%

NASDAQ PCRX opened at $20.54 on Friday. The company has a market cap of $883.63 million, a PE ratio of 45.65 and a beta of 0.22. The company has a current ratio of 5.26, a quick ratio of 3.78 and a debt-to-equity ratio of 0.52. The stock has a 50 day moving average of $23.76 and a 200-day moving average of $23.94. Pacira BioSciences, Inc. has a 12 month low of $18.80 and a 12 month high of $27.64.

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

Insider Buying and Selling

In other Pacira BioSciences news, insider Jonathan Slonin sold 3,960 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $24.09, for a total transaction of $95,396.40. Following the transaction, the insider owned 178,367 shares in the company, valued at $4,296,861.03. This trade represents a 2.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Shawn Cross sold 9,104 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $25.14, for a total transaction of $228,874.56. Following the transaction, the chief financial officer directly owned 56,250 shares in the company, valued at approximately $1,414,125. This represents a 13.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 34,336 shares of company stock valued at $851,868. Company insiders own 6.40% of the company’s stock.

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.