Gagnon Advisors LLC Has $6.75 Million Position in Pacira BioSciences, Inc. $PCRX

Key Points

• Gagnon Advisors LLC increased its stake in Pacira BioSciences by 22.3% in the fourth quarter, adding 47,506 shares and bringing its position to 260,908 shares valued at about $6.75 million.
• Insiders have been selling shares, including CFO Shawn Cross and insider Jonathan Slonin, with total insider sales over the last quarter reaching 34,376 shares worth $846,312.
• Pacira’s latest earnings topped revenue estimates but missed EPS: the company reported $0.60 per share versus expectations of $0.61, while revenue rose 5% year over year to $177.38 million. Analysts currently rate the stock a consensus Hold with an average price target of $29.40.

Gagnon Advisors LLC boosted its holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 22.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 260,908 shares of the company's stock after buying an additional 47,506 shares during the period. Pacira BioSciences makes up about 4.3% of Gagnon Advisors LLC's investment portfolio, making the stock its 11th biggest position. Gagnon Advisors LLC owned approximately 0.61% of Pacira BioSciences worth $6,752,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Hantz Financial Services Inc. grew its position in Pacira BioSciences by 175.4% in the third quarter. Hantz Financial Services Inc. now owns 1,132 shares of the company's stock valued at $29,000 after purchasing an additional 721 shares in the last quarter. State of Wyoming raised its stake in Pacira BioSciences by 7.0% in the 4th quarter. State of Wyoming now owns 11,155 shares of the company's stock worth $289,000 after purchasing an additional 728 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Pacira BioSciences by 8.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 10,604 shares of the company's stock worth $259,000 after purchasing an additional 785 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Pacira BioSciences by 2.6% in the 4th quarter. Franklin Resources Inc. now owns 33,860 shares of the company's stock valued at $876,000 after buying an additional 846 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in Pacira BioSciences by 14.0% during the 4th quarter. Farther Finance Advisors LLC now owns 9,317 shares of the company's stock worth $241,000 after purchasing an additional 1,145 shares in the last quarter. Institutional investors own 99.73% of the company's stock.

Insider Transactions at Pacira BioSciences

In other Pacira BioSciences news, insider Jonathan Slonin sold 3,261 shares of the business's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $22.82, for a total transaction of $74,416.02. Following the transaction, the insider owned 223,640 shares in the company, valued at $5,103,464.80. The trade was a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Shawn Cross sold 12,941 shares of the business's stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $25.16, for a total transaction of $325,595.56. Following the transaction, the chief financial officer owned 105,341 shares in the company, valued at $2,650,379.56. This trade represents a 10.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 34,376 shares of company stock valued at $846,312. 6.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PCRX has been the topic of a number of research reports. Weiss Ratings raised shares of Pacira BioSciences from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, May 20th. Wall Street Zen lowered shares of Pacira BioSciences from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 28th. Barclays reduced their price objective on shares of Pacira BioSciences from $27.00 to $25.00 and set an "equal weight" rating for the company in a research note on Thursday, March 26th. Zacks Research raised shares of Pacira BioSciences from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 7th. Finally, Needham & Company LLC upped their price objective on shares of Pacira BioSciences from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Friday, May 1st. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $29.40.

Pacira BioSciences Stock Performance

Shares of PCRX stock opened at $22.99 on Friday. The company has a quick ratio of 3.35, a current ratio of 4.73 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $904.66 million, a PE ratio of 191.60 and a beta of 0.29. The company has a 50 day moving average price of $23.58 and a 200-day moving average price of $23.27. Pacira BioSciences, Inc. has a 52 week low of $18.80 and a 52 week high of $27.64.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.01). Pacira BioSciences had a net margin of 0.70% and a return on equity of 10.24%. The firm had revenue of $177.38 million for the quarter, compared to analysts' expectations of $171.80 million. During the same period in the prior year, the firm earned $0.65 EPS. Pacira BioSciences's revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, equities research analysts expect that Pacira BioSciences, Inc. will post 1.91 earnings per share 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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