Pacira BioSciences, Inc. $PCRX Position Increased by Profund Advisors LLC

Profund Advisors LLC raised its holdings in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 324.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,354 shares of the company’s stock after buying an additional 42,319 shares during the period. Profund Advisors LLC owned about 0.14% of Pacira BioSciences worth $1,387,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PCRX. Meeder Asset Management Inc. bought a new position in Pacira BioSciences in the 1st quarter worth $46,000. Global Retirement Partners LLC bought a new stake in Pacira BioSciences during the second quarter valued at about $51,000. State of Wyoming bought a new stake in Pacira BioSciences during the second quarter valued at about $78,000. PNC Financial Services Group Inc. increased its position in Pacira BioSciences by 15.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,751 shares of the company’s stock worth $85,000 after buying an additional 492 shares in the last quarter. Finally, Keating Financial Advisory Services Inc. purchased a new position in Pacira BioSciences during the second quarter valued at approximately $110,000. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Insider Buying and Selling at Pacira BioSciences

In other Pacira BioSciences news, insider Jonathan Slonin sold 3,040 shares of the 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 completion of the transaction, the insider owned 216,384 shares in the company, valued at $5,026,600.32. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, SVP Lauren Riker sold 6,000 shares of Pacira BioSciences stock in a transaction on Thursday, October 8th. The stock was sold at an average price of $36.32, for a total transaction of $217,920.00. Following the completion of the transaction, the senior vice president directly owned 62,284 shares of the company’s stock, valued at $2,262,154.88. The trade was a 8.79% 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. Insiders own 6.40% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on PCRX. HC Wainwright cut shares of Pacira BioSciences from a “buy” rating to a “hold” rating and lowered their target price for the company from $38.00 to $36.50 in a research note on Friday, October 9th. Jefferies Financial Group lowered Pacira BioSciences from a “buy” rating to a “hold” rating and set a $36.00 price target for the company. in a research note on Thursday, October 8th. Zacks Research cut Pacira BioSciences from a “hold” rating to a “strong sell” rating in a report on Monday, October 5th. Truist Financial downgraded Pacira BioSciences from a “buy” rating to a “hold” rating and lifted their target price for the company from $31.00 to $36.50 in a research note on Friday, October 9th. Finally, Wall Street Zen raised Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 26th. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $33.33.

Pacira BioSciences Stock Performance

NASDAQ:PCRX opened at $36.40 on Tuesday. 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, Inc. has a 1 year low of $18.80 and a 1 year high of $36.67. The stock’s 50 day simple moving average is $29.30 and its two-hundred day simple moving average is $24.89. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 23.33 and a beta of 0.25.

Pacira BioSciences (NASDAQ:PCRX) last posted its earnings results on Tuesday, August 4th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. Pacira BioSciences had a return on equity of 9.68% and a net margin of 1.96%. The firm had revenue of $192.40 million during the quarter, compared to the consensus estimate of $191.06 million. During the same period in the prior year, the company earned $0.74 EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, equities analysts anticipate that Pacira BioSciences, Inc. will post 1.86 earnings per share for the current fiscal year.

Pacira BioSciences Profile

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid pain-management and regenerative health solutions. The company’s products are designed to address acute postsurgical pain and osteoarthritis-related pain while supporting efforts to reduce reliance on opioid medications.

Pacira’s lead product is EXPAREL, an extended-release formulation of bupivacaine administered by injection for postsurgical pain management. The company also markets ZILRETTA, an extended-release corticosteroid injection indicated for osteoarthritis knee pain, and iovera°, a cryoanalgesia system that uses controlled cooling to temporarily block peripheral nerves and relieve pain.

Formerly known as Pacira Pharmaceuticals, the company adopted the Pacira BioSciences name to reflect its broader focus on innovative pain and regenerative-health therapies.