Rice Hall James & Associates LLC Sells 23,280 Shares of Pacira BioSciences, Inc. $PCRX

Rice Hall James & Associates LLC lessened its holdings in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 8.9% during the 3rd quarter, Holdings Channel reports. The firm owned 237,007 shares of the company’s stock after selling 23,280 shares during the period. Rice Hall James & Associates LLC’s holdings in Pacira BioSciences were worth $6,108,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Hsbc Holdings PLC boosted its stake in Pacira BioSciences by 52.2% in the 1st quarter. Hsbc Holdings PLC now owns 22,939 shares of the company’s stock worth $565,000 after purchasing an additional 7,864 shares during the period. FORA Capital LLC purchased a new position in shares of Pacira BioSciences in the first quarter worth $235,000. Rafferty Asset Management LLC bought a new position in shares of Pacira BioSciences during the first quarter worth $251,000. Doma Perpetual Capital Management LLC grew its stake in Pacira BioSciences by 3.2% during the first quarter. Doma Perpetual Capital Management LLC now owns 1,804,069 shares of the company’s stock valued at $44,831,000 after acquiring an additional 56,220 shares in the last quarter. Finally, Ancora Advisors LLC increased its holdings in Pacira BioSciences by 214.3% in the 1st quarter. Ancora Advisors LLC now owns 4,400 shares of the company’s stock valued at $109,000 after acquiring an additional 3,000 shares during the last quarter. 99.73% of the stock is owned by hedge funds and other institutional investors.

Pacira BioSciences Stock Up 1.9%

Shares of PCRX opened at $26.51 on Friday. The company has a quick ratio of 3.78, a current ratio of 5.26 and a debt-to-equity ratio of 0.52. Pacira BioSciences, Inc. has a 52-week low of $18.17 and a 52-week high of $27.64. The company has a market cap of $1.14 billion, a PE ratio of 58.91 and a beta of 0.23. The business has a fifty day moving average of $23.77 and a 200 day moving average of $24.16.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PCRX shares. Truist Financial reduced their target price on Pacira BioSciences from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, November 7th. HC Wainwright reaffirmed a “buy” rating and set a $38.00 price objective on shares of Pacira BioSciences in a report on Monday, November 17th. Weiss Ratings reissued a “sell (d+)” rating on shares of Pacira BioSciences in a report on Monday. Barclays assumed coverage on shares of Pacira BioSciences in a research report on Tuesday, December 9th. They issued an “equal weight” rating and a $27.00 price target on the stock. Finally, Wall Street Zen upgraded shares of Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $28.20.

Insider Activity

In related news, CFO Shawn Cross sold 9,104 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $25.14, for a total transaction of $228,874.56. Following the completion of the sale, the chief financial officer directly owned 56,250 shares of the company’s stock, valued at approximately $1,414,125. This trade represents a 13.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan Slonin sold 3,960 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $24.09, for a total value of $95,396.40. Following the transaction, the insider owned 178,367 shares of the company’s stock, valued at approximately $4,296,861.03. The trade was a 2.17% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 32,920 shares of company stock valued at $817,544. 6.40% of the stock is owned by insiders.

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.