Gagnon Securities LLC Has $7.66 Million Stock Position 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 position in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 4.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 308,334 shares of the company's stock after selling 13,409 shares during the quarter. Pacira BioSciences comprises approximately 1.7% of Gagnon Securities LLC's holdings, making the stock its 23rd biggest position. Gagnon Securities LLC owned approximately 0.67% of Pacira BioSciences worth $7,662,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in PCRX. Renaissance Technologies LLC boosted its stake in Pacira BioSciences by 0.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,992,601 shares of the company's stock valued at $37,541,000 after purchasing an additional 13,604 shares during the last quarter. Geode Capital Management LLC raised its stake in Pacira BioSciences by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 1,091,970 shares of the company's stock worth $20,578,000 after buying an additional 5,071 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Pacira BioSciences during the fourth quarter valued at approximately $20,266,000. Assenagon Asset Management S.A. raised its position in Pacira BioSciences by 48.9% in the first 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 during the period. Finally, Nuveen Asset Management LLC raised its position 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 valued at $11,792,000 after purchasing an additional 327,754 shares during the period. Institutional investors own 99.73% of the company's stock.

Insider Buying and Selling at Pacira BioSciences

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

Wall Street Analyst Weigh In

A number of research firms recently commented on PCRX. 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 objective on the stock in a 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 on the stock in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $25.75.

Pacira BioSciences Trading Down 0.6%

Shares of Pacira BioSciences stock traded down $0.14 during trading hours on Monday, hitting $25.04. The company's stock had a trading volume of 145,890 shares, compared to its average volume of 808,082. The stock has a 50 day moving average of $23.59 and a 200 day moving average of $24.61. Pacira BioSciences, Inc. has a 12 month low of $11.16 and a 12 month high of $27.64. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.38 and a quick ratio of 1.91. The company has a market capitalization of $1.13 billion, a PE ratio of -9.01 and a beta of 0.48.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. The business had revenue of $181.10 million during the quarter, compared to analyst estimates of $183.11 million. Pacira BioSciences had a positive return on equity of 13.29% and a negative net margin of 18.08%. Pacira BioSciences's revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.96 earnings per share. Analysts predict that Pacira BioSciences, Inc. will post 2.41 earnings per share for the current year.

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.