Jacobs Levy Equity Management Inc. Grows Stock Position in Pacira BioSciences, Inc. $PCRX

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Pacira BioSciences by 88.3%, now holding approximately 1.85% of the company, valued at $21.26 million.
• Pacira BioSciences reported a quarterly earnings per share (EPS) of $0.74, slightly surpassing analysts' expectations, with revenues of $181.10 million.
• Research firms have upgraded Pacira BioSciences, with a consensus rating of "Moderate Buy" and an average price target of $30.83 among analysts.

Jacobs Levy Equity Management Inc. lifted its holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 88.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 855,488 shares of the company's stock after buying an additional 401,227 shares during the quarter. Jacobs Levy Equity Management Inc. owned 1.85% of Pacira BioSciences worth $21,259,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Alyeska Investment Group L.P. purchased a new stake in Pacira BioSciences during the first quarter worth about $32,506,000. Point72 Asset Management L.P. purchased a new stake in shares of Pacira BioSciences during the 4th quarter worth approximately $20,266,000. American Century Companies Inc. boosted its stake 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 acquiring an additional 531,831 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Pacira BioSciences during the 1st quarter worth approximately $12,884,000. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Pacira BioSciences during the 4th quarter worth approximately $8,180,000. 99.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Marcelo Bigal sold 4,912 shares of the company'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 transaction, the director owned 11,393 shares of the company's stock, valued at approximately $269,672.31. This represents a 30.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 6.40% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on PCRX. Truist Financial upgraded Pacira BioSciences from a "hold" rating to a "buy" rating and set a $30.00 target price on the stock in a research report on Friday, July 25th. Zacks Research upgraded shares of Pacira BioSciences from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 14th. Finally, Wall Street Zen upgraded shares of Pacira BioSciences from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $30.83.

Pacira BioSciences Price Performance

Shares of NASDAQ:PCRX traded up $0.01 on Friday, hitting $27.04. The company had a trading volume of 170,877 shares, compared to its average volume of 786,460. The company has a current ratio of 2.38, a quick ratio of 1.91 and a debt-to-equity ratio of 0.50. Pacira BioSciences, Inc. has a 52-week low of $12.84 and a 52-week high of $27.64. The business has a 50 day moving average of $24.23 and a 200 day moving average of $24.62. The company has a market cap of $1.22 billion, a PE ratio of -9.71 and a beta of 0.42.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.01. The company had revenue of $181.10 million for the quarter, compared to analyst estimates of $183.11 million. Pacira BioSciences had a negative net margin of 18.08% and a positive return on equity of 13.29%. The firm's quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.96 EPS. Pacira BioSciences has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate 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.