Alyeska Investment Group L.P. Takes $32.51 Million Position in Pacira BioSciences, Inc. $PCRX

Key Points

• Alyeska Investment Group L.P. has acquired a $32.51 million stake in Pacira BioSciences, Inc., owning approximately 2.83% of the company after purchasing over 1.3 million shares in the first quarter.
• Multiple analysts have shown a positive outlook, with Zacks upgrading the stock from "strong sell" to "hold" and other firms issuing "buy" ratings, resulting in an average price target of $30.83.
• Pacira BioSciences reported a Q2 EPS of $0.74, exceeding estimates, with revenue of $181.10 million, up 1.7% from the previous year, despite a negative net margin of 18.08%.

Alyeska Investment Group L.P. acquired a new stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,308,086 shares of the company's stock, valued at approximately $32,506,000. Alyeska Investment Group L.P. owned about 2.83% of Pacira BioSciences at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. State of Wyoming increased its position in shares of Pacira BioSciences by 8.0% during the 4th quarter. State of Wyoming now owns 6,566 shares of the company's stock valued at $124,000 after purchasing an additional 487 shares during the last quarter. US Bancorp DE increased its position in shares of Pacira BioSciences by 31.0% during the 1st quarter. US Bancorp DE now owns 2,270 shares of the company's stock valued at $56,000 after purchasing an additional 537 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Pacira BioSciences by 3.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,077 shares of the company's stock valued at $491,000 after purchasing an additional 794 shares during the last quarter. Ancora Advisors LLC bought a new position in Pacira BioSciences during the 4th quarter worth approximately $26,000. Finally, Brooklyn Investment Group grew its position in Pacira BioSciences by 372.2% during the 1st quarter. Brooklyn Investment Group now owns 2,238 shares of the company's stock worth $56,000 after acquiring an additional 1,764 shares during the last quarter. 99.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PCRX shares. Zacks Research upgraded Pacira BioSciences from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 14th. Needham & Company LLC reduced their price target on Pacira BioSciences from $32.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Wall Street Zen upgraded Pacira BioSciences from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Finally, Truist Financial upgraded Pacira BioSciences from a "hold" rating to a "buy" rating and set a $30.00 price target on the stock in a research report on Friday, July 25th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Pacira BioSciences currently has an average rating of "Moderate Buy" and an average target price of $30.83.

Insider Buying and Selling at Pacira BioSciences

In other news, Director Marcelo Bigal sold 4,912 shares of Pacira BioSciences stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $23.67, for a total value of $116,267.04. Following the sale, the director directly owned 11,393 shares in the company, valued at approximately $269,672.31. This trade represents a 30.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.40% of the company's stock.

Pacira BioSciences Price Performance

Shares of PCRX stock opened at $27.18 on Thursday. The firm has a market cap of $1.22 billion, a P/E ratio of -9.78 and a beta of 0.42. Pacira BioSciences, Inc. has a fifty-two week low of $12.61 and a fifty-two week high of $27.64. The business's 50 day moving average price is $23.85 and its 200-day moving average price is $24.58. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.91 and a current ratio of 2.38.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. The firm had revenue of $181.10 million for the quarter, compared to analyst estimates of $183.11 million. Pacira BioSciences had a positive return on equity of 13.29% and a negative net margin of 18.08%.The business's quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the company earned $0.96 EPS. Pacira BioSciences has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Pacira BioSciences, Inc. will post 2.41 earnings per share for the current year.

Pacira BioSciences Company Profile

Pacira Biosciences, Inc is a holding company, which engages in the provision of non-opioid pain management and regenerative health solutions to improve patients' journeys along the neural pain pathway. Its products include EXPAREL, iovera, and DepoFoam. The company was founded in December 2006 and is headquartered in Tampa, FL.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.