Empowered Funds LLC Buys 49,171 Shares of Pacira BioSciences, Inc. $PCRX

Key Points

• Empowered Funds LLC increased its Pacira BioSciences stake by 21.6% in the first quarter, acquiring 49,171 shares for a total holding of 276,776 shares valued at approximately $6.3 million. Institutional investors collectively own 99.73% of the company.
• Pacira reported quarterly earnings of $0.73 per share, beating estimates of $0.65, while revenue rose 6.2% year over year to $192.4 million. Shares opened at $23.00, below the analyst consensus price target of $29.80.
• Analyst sentiment is mixed, with three Buy, three Hold, and one Sell rating; recent price targets range from $25 to $38. Separately, Senior Vice President Lauren Riker sold 6,115 shares under a pre-arranged Rule 10b5-1 plan.

Empowered Funds LLC increased its stake in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 21.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 276,776 shares of the company's stock after acquiring an additional 49,171 shares during the quarter. Empowered Funds LLC owned about 0.70% of Pacira BioSciences worth $6,255,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its holdings in Pacira BioSciences by 5,900.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,500 shares of the company's stock worth $39,000 after purchasing an additional 1,475 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Pacira BioSciences during the first quarter worth $46,000. Kestra Advisory Services LLC acquired a new stake in shares of Pacira BioSciences during the fourth quarter worth $48,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Pacira BioSciences during the fourth quarter worth $51,000. Finally, Global Retirement Partners LLC raised its stake in Pacira BioSciences by 479.4% during the fourth quarter. Global Retirement Partners LLC now owns 2,028 shares of the company's stock worth $52,000 after buying an additional 1,678 shares during the last quarter. 99.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Pacira BioSciences news, SVP Lauren Riker sold 6,115 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $23.50, for a total value of $143,702.50. Following the completion of the sale, the senior vice president owned 62,284 shares of the company's stock, valued at approximately $1,463,674. This trade represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 6.40% of the company's stock.

Pacira BioSciences Price Performance

Shares of NASDAQ PCRX opened at $23.00 on Monday. The firm's 50-day moving average price is $24.80 and its 200-day moving average price is $23.56. Pacira BioSciences, Inc. has a 1-year low of $18.80 and a 1-year high of $27.66. The firm has a market capitalization of $916.78 million, a P/E ratio of 65.72 and a beta of 0.27. The company has a current ratio of 5.04, a quick ratio of 3.94 and a debt-to-equity ratio of 0.54.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last issued its 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 return on equity of 9.68% and a net margin of 1.96%.The company had revenue of $192.40 million during the quarter, compared to the consensus estimate of $191.06 million. During the same period last year, the business posted $0.74 EPS. The firm's revenue for the quarter was up 6.2% compared to the same quarter last year. Equities research analysts anticipate that Pacira BioSciences, Inc. will post 1.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PCRX has been the topic of several recent analyst reports. Royal Bank Of Canada boosted their target price on shares of Pacira BioSciences from $24.00 to $25.00 and gave the company a "sector perform" rating in a report on Wednesday, August 5th. Needham & Company LLC increased their price target on Pacira BioSciences from $32.00 to $33.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. HC Wainwright reissued a "buy" rating and issued a $38.00 price objective on shares of Pacira BioSciences in a research report on Wednesday, July 1st. Weiss Ratings raised Pacira BioSciences from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, May 20th. Finally, Wall Street Zen downgraded Pacira BioSciences from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $29.80.

Pacira BioSciences Profile

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.

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