Gagnon Securities LLC Has $7.66 Million Holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Key Points

• Gagnon Securities LLC has reduced its holdings in Pacira BioSciences (NASDAQ:PCRX) by 4.2%, now owning approximately $7.66 million worth of the stock.
• Institutional investors currently hold about 99.73% of Pacira BioSciences' stock, indicating significant institutional interest.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Pacira BioSciences, with an average target price of $25.75.

Gagnon Securities LLC cut its holdings in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 4.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 308,334 shares of the company's stock after selling 13,409 shares during the period. Pacira BioSciences accounts for approximately 1.7% of Gagnon Securities LLC's holdings, making the stock its 23rd biggest holding. Gagnon Securities LLC owned about 0.67% of Pacira BioSciences worth $7,662,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in PCRX. Point72 Asset Management L.P. bought a new position in shares of Pacira BioSciences during the 4th quarter worth approximately $20,266,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Pacira BioSciences during the 4th quarter worth approximately $8,558,000. Balyasny Asset Management L.P. bought a new position in shares of Pacira BioSciences during the 4th quarter worth approximately $8,180,000. Nuveen Asset Management LLC grew its stake in shares of Pacira BioSciences by 109.9% during the 4th quarter. Nuveen Asset Management LLC now owns 625,917 shares of the company's stock worth $11,792,000 after acquiring an additional 327,754 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Pacira BioSciences by 48.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 673,289 shares of the company's stock worth $16,731,000 after acquiring an additional 221,196 shares in the last quarter. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of Pacira BioSciences from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Truist Financial raised shares of Pacira BioSciences from a "hold" rating to a "buy" rating and set a $30.00 price target on the stock in a research report on Friday, July 25th. Finally, Needham & Company LLC decreased their price objective on shares of Pacira BioSciences from $32.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $25.75.

Insider Buying and Selling

In other news, SVP Lauren Riker sold 5,578 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $26.21, for a total transaction of $146,199.38. Following the sale, the senior vice president directly owned 59,564 shares in the company, valued at approximately $1,561,172.44. The trade was a 8.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 6.40% of the company's stock.

Pacira BioSciences Stock Down 0.6%

Shares of NASDAQ PCRX opened at $22.40 on Thursday. The company has a current ratio of 2.41, a quick ratio of 1.99 and a debt-to-equity ratio of 0.48. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -8.06 and a beta of 0.48. Pacira BioSciences, Inc. has a 12 month low of $11.16 and a 12 month high of $27.64. The stock has a 50-day moving average price of $23.64 and a two-hundred day moving average price of $24.56.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last issued 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. The firm had revenue of $181.10 million during the quarter, compared to the consensus estimate of $183.11 million. Pacira BioSciences had a positive return on equity of 13.22% and a negative net margin of 18.08%. The business's quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.96 earnings per share. As a group, analysts forecast that Pacira BioSciences, Inc. will post 2.41 earnings per share for the current fiscal year.

About Pacira BioSciences

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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