First Trust Advisors LP Grows Position in Pacira BioSciences, Inc. $PCRX

First Trust Advisors LP boosted its stake in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 59.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 300,632 shares of the company's stock after purchasing an additional 111,743 shares during the period. First Trust Advisors LP owned about 0.76% of Pacira BioSciences worth $6,794,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. increased its stake in Pacira BioSciences by 36.1% during the second quarter. Balyasny Asset Management L.P. now owns 2,130,733 shares of the company's stock worth $50,925,000 after purchasing an additional 565,288 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Pacira BioSciences by 49.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company's stock valued at $27,454,000 after purchasing an additional 367,869 shares during the period. Hillsdale Investment Management Inc. purchased a new position in shares of Pacira BioSciences in the fourth quarter valued at approximately $7,976,000. LSV Asset Management grew its holdings in shares of Pacira BioSciences by 179.8% in the fourth quarter. LSV Asset Management now owns 319,800 shares of the company's stock valued at $8,276,000 after purchasing an additional 205,500 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Pacira BioSciences in the second quarter valued at approximately $4,550,000. Hedge funds and other institutional investors own 99.73% of the company's stock.

Pacira BioSciences Stock Performance

Shares of Pacira BioSciences stock opened at $26.41 on Monday. Pacira BioSciences, Inc. has a 1 year low of $18.80 and a 1 year high of $27.64. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.35 and a current ratio of 4.73. The company has a market capitalization of $1.04 billion, a P/E ratio of 220.10 and a beta of 0.27. The company's fifty day moving average is $24.46 and its two-hundred day moving average is $23.24.

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

Insider Activity at Pacira BioSciences

In related news, SVP Lauren Riker sold 6,115 shares of the company's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $23.50, for a total transaction of $143,702.50. Following the transaction, the senior vice president owned 62,284 shares of the company's stock, valued at $1,463,674. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PCRX has been the topic of a number of recent research reports. Weiss Ratings raised Pacira BioSciences from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, May 20th. Royal Bank Of Canada lifted their target price on Pacira BioSciences from $22.00 to $24.00 and gave the company a "sector perform" rating in a report on Friday, May 1st. HC Wainwright reissued a "buy" rating and set a $38.00 target price on shares of Pacira BioSciences in a research note on Wednesday, July 1st. Zacks Research upgraded Pacira BioSciences from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 7th. Finally, Needham & Company LLC increased their price target on Pacira BioSciences from $30.00 to $32.00 and gave the company a "buy" rating in a research report on Friday, May 1st. Three research 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. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $29.40.

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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