Hillsdale Investment Management Inc. Buys Shares of 308,200 Pacira BioSciences, Inc. $PCRX

Key Points

• Hillsdale Investment Management disclosed a new fourth-quarter stake in Pacira BioSciences, buying 308,200 shares worth about $8.0 million.
• Institutional ownership remains extremely high, with hedge funds and other investors holding 99.73% of Pacira’s stock; several firms increased positions during the period.
• Pacira recently reported Q1 EPS of $0.60, missing estimates by a penny, while revenue of $177.38 million topped expectations and rose 5% year over year.

Hillsdale Investment Management Inc. bought a new stake in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 308,200 shares of the company's stock, valued at approximately $7,976,000. Hillsdale Investment Management Inc. owned about 0.72% of Pacira BioSciences as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Doma Perpetual Capital Management LLC lifted its position in shares of Pacira BioSciences by 49.7% in the 3rd quarter. Doma Perpetual Capital Management LLC now owns 2,701,324 shares of the company's stock worth $69,613,000 after acquiring an additional 897,255 shares during the period. Impax Asset Management Group plc grew its holdings in shares of Pacira BioSciences by 25.0% during the 4th quarter. Impax Asset Management Group plc now owns 750,027 shares of the company's stock worth $19,411,000 after purchasing an additional 150,000 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Pacira BioSciences by 87.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 435,143 shares of the company's stock worth $11,262,000 after purchasing an additional 202,773 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Pacira BioSciences by 171.4% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 138,105 shares of the company's stock worth $3,574,000 after purchasing an additional 87,210 shares in the last quarter. Finally, Gagnon Securities LLC grew its holdings in shares of Pacira BioSciences by 22.1% during the 3rd quarter. Gagnon Securities LLC now owns 449,717 shares of the company's stock worth $11,589,000 after purchasing an additional 81,364 shares in the last quarter. Institutional investors and hedge funds own 99.73% of the company's stock.

Pacira BioSciences Price Performance

Pacira BioSciences stock opened at $23.22 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 4.73 and a quick ratio of 3.35. The company has a market capitalization of $913.66 million, a PE ratio of 193.52 and a beta of 0.32. Pacira BioSciences, Inc. has a one year low of $18.80 and a one year high of $27.64. The business has a 50 day simple moving average of $23.58 and a 200 day simple moving average of $23.33.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.01). The company had revenue of $177.38 million for the quarter, compared to the consensus estimate of $171.80 million. Pacira BioSciences had a return on equity of 10.24% and a net margin of 0.70%.Pacira BioSciences's quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.65 EPS. On average, sell-side analysts forecast that Pacira BioSciences, Inc. will post 1.91 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Shawn Cross sold 12,941 shares of the firm's stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $25.16, for a total transaction of $325,595.56. Following the completion of the sale, the chief financial officer directly owned 105,341 shares of the company's stock, valued at $2,650,379.56. This trade represents a 10.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Slonin sold 3,261 shares of Pacira BioSciences stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $22.82, for a total value of $74,416.02. Following the completion of the sale, the insider directly owned 223,640 shares of the company's stock, valued at $5,103,464.80. This trade represents a 1.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,261 shares of company stock valued at $702,610 over the last ninety days. Insiders own 6.40% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Wall Street Zen lowered Pacira BioSciences from a "strong-buy" rating to a "buy" rating in a report on Saturday, February 28th. Weiss Ratings raised Pacira BioSciences from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, May 20th. Royal Bank Of Canada lifted their price objective on Pacira BioSciences from $22.00 to $24.00 and gave the stock a "sector perform" rating in a report on Friday, May 1st. Zacks Research raised Pacira BioSciences from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 7th. Finally, Barclays decreased their price objective on Pacira BioSciences from $27.00 to $25.00 and set an "equal weight" rating on the stock in a report on Thursday, March 26th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Pacira BioSciences currently has an average rating of "Hold" and an average target price 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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