KLP Kapitalforvaltning AS Increases Stake in Pacira BioSciences, Inc. $PCRX

Key Points

• KLP Kapitalforvaltning AS increased its stake in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 48.5% in Q2, now holding 35,200 shares valued at $841,000.
• Several institutional investors have also increased their positions in Pacira, with American Century Companies Inc. boosting its stake by 392.2% in Q1.
• Analysts currently have an average rating of "Hold" for Pacira shares, with a consensus price target of $33.40; the stock has seen fluctuations with a 12-month high of $27.64.

KLP Kapitalforvaltning AS lifted its stake in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 48.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,200 shares of the company's stock after purchasing an additional 11,500 shares during the quarter. KLP Kapitalforvaltning AS owned about 0.08% of Pacira BioSciences worth $841,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Doma Perpetual Capital Management LLC raised its position in shares of Pacira BioSciences by 3.2% in the 1st quarter. Doma Perpetual Capital Management LLC now owns 1,804,069 shares of the company's stock valued at $44,831,000 after purchasing an additional 56,220 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in Pacira BioSciences in the 1st quarter worth approximately $32,506,000. Goldman Sachs Group Inc. increased its holdings in Pacira BioSciences by 49.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company's stock worth $27,454,000 after buying an additional 367,869 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in Pacira BioSciences by 88.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 855,488 shares of the company's stock worth $21,259,000 after buying an additional 401,227 shares during the period. Finally, American Century Companies Inc. increased its holdings in Pacira BioSciences by 392.2% in the 1st quarter. American Century Companies Inc. now owns 667,423 shares of the company's stock worth $16,585,000 after buying an additional 531,831 shares during the period. 99.73% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Pacira BioSciences

In related news, Director Marcelo Bigal sold 4,912 shares of Pacira BioSciences stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $23.67, for a total value of $116,267.04. Following the sale, the director owned 11,393 shares of the company's stock, valued at approximately $269,672.31. This trade represents a 30.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.40% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PCRX shares. Weiss Ratings reiterated a "sell (d)" rating on shares of Pacira BioSciences in a report on Wednesday, October 8th. Zacks Research upgraded shares of Pacira BioSciences from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Finally, Truist Financial upgraded shares of Pacira BioSciences from a "hold" rating to a "buy" rating and set a $30.00 price target on the stock in a report on Friday, July 25th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Pacira BioSciences presently has an average rating of "Hold" and a consensus price target of $33.40.

Pacira BioSciences Price Performance

Shares of NASDAQ PCRX opened at $23.45 on Thursday. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -8.44 and a beta of 0.40. Pacira BioSciences, Inc. has a 12 month low of $16.00 and a 12 month high of $27.64. The firm's 50 day simple moving average is $25.44 and its 200-day simple moving average is $24.80. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.38 and a quick ratio of 1.91.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. The business had revenue of $181.10 million for the quarter, compared to analysts' expectations of $183.11 million. Pacira BioSciences had a negative net margin of 18.08% and a positive return on equity of 13.29%. The business's revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the company earned $0.96 EPS. Pacira BioSciences has set its FY 2025 guidance at EPS. Analysts expect that Pacira BioSciences, Inc. will post 2.41 EPS 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.

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