Easterly Investment Partners LLC Boosts Holdings in Pacira BioSciences, Inc. $PCRX

Key Points

• Easterly Investment Partners LLC increased its stake in Pacira BioSciences by 51.6% during the 2nd quarter, owning 170,071 shares valued at approximately $4.07 million.
• Institutional investors and hedge funds dominate ownership in Pacira BioSciences, holding a total of 99.73% of the company’s stock.
• Analysts have mixed ratings on Pacira BioSciences, with four recommending a "Buy" and one giving a "Sell", resulting in a consensus rating of "Hold" with a target price of $33.40.

Easterly Investment Partners LLC grew its position in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 51.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 170,071 shares of the company's stock after purchasing an additional 57,900 shares during the quarter. Easterly Investment Partners LLC owned about 0.37% of Pacira BioSciences worth $4,065,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. GAMMA Investing LLC increased its position in Pacira BioSciences by 112.8% during the 1st quarter. GAMMA Investing LLC now owns 3,694 shares of the company's stock valued at $92,000 after buying an additional 1,958 shares in the last quarter. Wealthquest Corp acquired a new stake in Pacira BioSciences in the 1st quarter worth approximately $59,000. Robeco Institutional Asset Management B.V. grew its position in Pacira BioSciences by 18.2% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 82,694 shares of the company's stock worth $2,055,000 after purchasing an additional 12,750 shares during the last quarter. Illinois Municipal Retirement Fund lifted its stake in shares of Pacira BioSciences by 24.7% during the first quarter. Illinois Municipal Retirement Fund now owns 25,318 shares of the company's stock worth $629,000 after buying an additional 5,011 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Pacira BioSciences during the first quarter valued at $277,000. Institutional investors and hedge funds own 99.73% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on PCRX. Truist Financial upgraded Pacira BioSciences from a "hold" rating to a "buy" rating and set a $30.00 target price for the company in a research note on Friday, July 25th. Zacks Research raised Pacira BioSciences from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Pacira BioSciences in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Pacira BioSciences has a consensus rating of "Hold" and a consensus target price of $33.40.

Insider Activity

In other news, Director Marcelo Bigal sold 4,912 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $23.67, for a total transaction of $116,267.04. Following the completion of the sale, the director owned 11,393 shares of the company's stock, valued at $269,672.31. The trade was a 30.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.40% of the stock is currently owned by company insiders.

Pacira BioSciences Stock Performance

NASDAQ PCRX opened at $22.77 on Friday. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -8.19 and a beta of 0.40. The stock has a 50-day moving average of $25.42 and a 200 day moving average of $24.78. The company has a current ratio of 2.38, a quick ratio of 1.91 and a debt-to-equity ratio of 0.50. Pacira BioSciences, Inc. has a twelve month low of $16.00 and a twelve month high of $27.64.

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

About Pacira BioSciences

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.

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