Gagnon Advisors LLC Has $5.10 Million Position in Pacira BioSciences, Inc. $PCRX

Key Points

• Gagnon Advisors LLC increased its holdings in Pacira BioSciences, Inc. by 60.0% in Q2 2023, owning 213,402 shares valued at approximately $5.10 million.
• Pacira BioSciences reported an earnings per share (EPS) of $0.74, slightly exceeding analysts' expectations, with a quarterly revenue of $181.10 million.
• Institutional investors own 99.73% of Pacira BioSciences' stock, indicating strong institutional confidence in the company.

Gagnon Advisors LLC grew its holdings in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 60.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 213,402 shares of the company's stock after acquiring an additional 80,012 shares during the period. Pacira BioSciences accounts for approximately 3.4% of Gagnon Advisors LLC's investment portfolio, making the stock its 14th biggest holding. Gagnon Advisors LLC owned approximately 0.46% of Pacira BioSciences worth $5,100,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Alyeska Investment Group L.P. bought a new position in shares of Pacira BioSciences during the 1st quarter worth about $32,506,000. American Century Companies Inc. boosted its position in shares of Pacira BioSciences by 392.2% during the 1st quarter. American Century Companies Inc. now owns 667,423 shares of the company's stock worth $16,585,000 after purchasing an additional 531,831 shares in the last quarter. Nuveen LLC bought a new position in shares of Pacira BioSciences during the 1st quarter worth about $12,884,000. Jacobs Levy Equity Management Inc. boosted its position in shares of Pacira BioSciences by 88.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 855,488 shares of the company's stock worth $21,259,000 after purchasing an additional 401,227 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Pacira BioSciences by 159.9% during the 1st quarter. Invesco Ltd. now owns 624,865 shares of the company's stock worth $15,528,000 after purchasing an additional 384,419 shares in the last quarter. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Pacira BioSciences Price Performance

Pacira BioSciences stock opened at $23.62 on Wednesday. Pacira BioSciences, Inc. has a 52 week low of $15.16 and a 52 week high of $27.64. The company's 50 day moving average price is $25.35 and its two-hundred day moving average price is $24.88. The company has a quick ratio of 1.91, a current ratio of 2.38 and a debt-to-equity ratio of 0.50. The stock has a market cap of $1.06 billion, a P/E ratio of -8.50 and a beta of 0.40.

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

Insider Activity

In other news, Director Marcelo Bigal sold 4,912 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at $269,672.31. This trade represents a 30.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Weiss Ratings reissued a "sell (d)" rating on shares of Pacira BioSciences in a research report on Saturday, September 27th. Truist Financial raised shares of Pacira BioSciences from a "hold" rating to a "buy" rating and set a $30.00 price objective on the stock in a research report on Friday, July 25th. Finally, Zacks Research raised shares of Pacira BioSciences from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 14th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Pacira BioSciences has a consensus rating of "Hold" and an average price target of $33.40.

Pacira BioSciences Company Profile

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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