Empowered Funds LLC Increases Stock Position in Pacira BioSciences, Inc. $PCRX

Key Points

• Empowered Funds LLC increased its Pacira BioSciences position by 21.6% in the first quarter, bringing its holdings to 276,776 shares worth approximately $6.3 million. Institutional investors collectively own 99.73% of the company.
• Analyst sentiment remains mixed: the stock has an overall “Hold” rating and an average price target of $29.40, though Needham and HC Wainwright maintain “Buy” ratings with targets of $32 and $38, respectively.
• Pacira’s shares opened at $26.41 after declining 2.1%; first-quarter revenue rose 5% year over year to $177.4 million, while EPS of $0.60 narrowly missed consensus expectations.

Empowered Funds LLC increased its holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 21.6% during the first quarter, according to its most recent filing 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 approximately 0.70% of Pacira BioSciences worth $6,255,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. boosted its stake 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 period. Meeder Asset Management Inc. acquired a new position in Pacira BioSciences in the first quarter valued at $46,000. Kestra Advisory Services LLC purchased a new stake in shares of Pacira BioSciences in the fourth quarter valued at about $48,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Pacira BioSciences during the fourth quarter worth about $51,000. Finally, Global Retirement Partners LLC boosted its stake in shares of 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 period. Hedge funds and other institutional investors own 99.73% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on PCRX. Royal Bank Of Canada raised their price target on Pacira BioSciences from $22.00 to $24.00 and gave the stock a "sector perform" rating in a report on Friday, May 1st. Needham & Company LLC increased their price objective on Pacira BioSciences from $30.00 to $32.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Weiss Ratings raised Pacira BioSciences from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, May 20th. Zacks Research upgraded Pacira BioSciences from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 7th. Finally, HC Wainwright reissued a "buy" rating and issued a $38.00 target price on shares of Pacira BioSciences in a report on Wednesday, July 1st. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $29.40.

Insider Buying and Selling at Pacira BioSciences

In related news, SVP Lauren Riker sold 6,115 shares of Pacira BioSciences 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 sale, the senior vice president directly owned 62,284 shares in the company, valued at $1,463,674. The trade was a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.40% of the stock is currently owned by company insiders.

Pacira BioSciences Trading Down 2.1%

NASDAQ PCRX opened at $26.41 on Friday. Pacira BioSciences, Inc. has a 52-week low of $18.80 and a 52-week high of $27.64. The firm has a 50-day moving average price of $24.46 and a 200 day moving average price of $23.24. The stock has a market capitalization of $1.04 billion, a P/E ratio of 220.10 and a beta of 0.27. The company has a quick ratio of 3.35, a current ratio of 4.73 and a debt-to-equity ratio of 0.56.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.01). The business had revenue of $177.38 million for the quarter, compared to analyst estimates of $171.80 million. Pacira BioSciences had a return on equity of 10.24% and a net margin of 0.70%.The business's revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 EPS. Equities research analysts expect that Pacira BioSciences, Inc. will post 1.94 EPS for the current year.

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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