Ellsworth Advisors LLC Makes New Investment in Pacira BioSciences, Inc. $PCRX

Key Points

• Ellsworth Advisors LLC acquired 44,284 Pacira BioSciences shares worth approximately $1.1 million, joining other institutional investors that have increased their positions. Institutions collectively own 99.73% of PCRX.
• Pacira reported quarterly revenue of $192.4 million, up 6.2% year over year, and adjusted earnings of $0.73 per share, exceeding analyst expectations of $0.65.
• Analyst sentiment remains mixed: PCRX has an average “Hold” rating and a $33.33 price target, while the stock recently traded near its 12-month high at $36.33. Two insiders also sold shares under pre-arranged trading plans.

Ellsworth Advisors LLC purchased a new stake in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 44,284 shares of the company's stock, valued at approximately $1,109,000. Ellsworth Advisors LLC owned approximately 0.11% of Pacira BioSciences as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its holdings in Pacira BioSciences by 15.1% during 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. Allspring Global Investments Holdings LLC grew its position in Pacira BioSciences by 10.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,746 shares of the company's stock worth $268,000 after buying an additional 1,142 shares during the period. State of Wyoming grew its position in Pacira BioSciences by 10.2% during the first quarter. State of Wyoming now owns 12,298 shares of the company's stock worth $278,000 after buying an additional 1,143 shares during the period. Hsbc Holdings PLC increased its holdings in Pacira BioSciences by 7.7% in the fourth quarter. Hsbc Holdings PLC now owns 18,416 shares of the company's stock valued at $479,000 after buying an additional 1,316 shares in the last quarter. Finally, Global Retirement Partners LLC purchased a new position in Pacira BioSciences in the second quarter valued at about $51,000. Institutional investors and hedge funds own 99.73% of the company's stock.

Pacira BioSciences Stock Performance

Shares of PCRX opened at $36.33 on Friday. The company has a current ratio of 5.04, a quick ratio of 3.94 and a debt-to-equity ratio of 0.54. The stock has a market cap of $1.45 billion, a P/E ratio of 23.33 and a beta of 0.25. The company has a 50-day moving average of $26.37 and a two-hundred day moving average of $24.98. Pacira BioSciences, Inc. has a 12-month low of $18.80 and a 12-month high of $36.67.

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

Insider Activity at Pacira BioSciences

In related news, insider Jonathan Slonin sold 3,040 shares of the company's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $23.23, for a total value of $70,619.20. Following the sale, the insider owned 216,384 shares of the company's stock, valued at approximately $5,026,600.32. This represents a 1.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Lauren Riker sold 6,000 shares of the stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $36.32, for a total value of $217,920.00. Following the sale, the senior vice president owned 62,284 shares in the company, valued at approximately $2,262,154.88. This trade represents a 8.79% decrease in their position. 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 Upgrades and Downgrades

A number of research firms have recently issued reports on PCRX. Oppenheimer began coverage on shares of Pacira BioSciences in a research report on Wednesday, September 23rd. They set an "outperform" rating and a $32.00 price target for the company. Royal Bank Of Canada boosted their price target on Pacira BioSciences from $25.00 to $36.50 and gave the stock a "sector perform" rating in a research note on Friday, October 9th. Weiss Ratings upgraded Pacira BioSciences from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, October 8th. Wall Street Zen raised Pacira BioSciences from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 26th. Finally, Needham & Company LLC downgraded Pacira BioSciences from a "buy" rating to a "hold" rating in a research note on Thursday, October 8th. One research analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $33.33.

About Pacira BioSciences

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid pain-management products. The company's portfolio is designed to help manage acute and chronic pain while reducing reliance on traditional opioid therapies.

Its principal product is EXPAREL, an extended-release formulation of bupivacaine used to provide postsurgical pain relief. Pacira also markets ZILRETTA, an extended-release corticosteroid injection for osteoarthritis-related knee pain, and the iovera° system, a handheld cryoanalgesia device intended to temporarily block peripheral nerves and provide targeted pain relief.

Originally known as Pacira Pharmaceuticals, the company adopted the name Pacira BioSciences in 2018 to reflect its broader focus on innovative therapies and technologies.

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