Martingale Asset Management L P Makes New Investment in Pacira BioSciences, Inc. $PCRX

Key Points

• Martingale Asset Management L P has acquired a new stake in Pacira BioSciences, buying 32,484 shares valued at approximately $807,000, indicating institutional interest in the company.
• Pacira BioSciences reported $0.74 earnings per share (EPS) for the last quarter, slightly exceeding analysts' expectations, and achieved a 1.7% year-over-year revenue increase.
• The company's stock has an average rating of “Moderate Buy” from analysts, with a revised price target averaging around $30.83, reflecting optimistic outlooks on its performance.

Martingale Asset Management L P acquired a new stake in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund acquired 32,484 shares of the company's stock, valued at approximately $807,000. Martingale Asset Management L P owned approximately 0.07% of Pacira BioSciences at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Point72 Asset Management L.P. purchased a new position in Pacira BioSciences during the fourth quarter valued at approximately $20,266,000. Assenagon Asset Management S.A. grew its position 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 valued at $16,731,000 after purchasing an additional 221,196 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Pacira BioSciences by 392.2% in the first quarter. American Century Companies Inc. now owns 667,423 shares of the company's stock worth $16,585,000 after purchasing an additional 531,831 shares during the period. Nuveen Asset Management LLC raised its position in shares of Pacira BioSciences by 109.9% in the fourth quarter. Nuveen Asset Management LLC now owns 625,917 shares of the company's stock worth $11,792,000 after buying an additional 327,754 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Pacira BioSciences by 159.9% in the first quarter. Invesco Ltd. now owns 624,865 shares of the company's stock worth $15,528,000 after buying an additional 384,419 shares in the last quarter. 99.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Lauren Riker sold 5,578 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $26.21, for a total value of $146,199.38. Following the completion of the transaction, the senior vice president owned 59,564 shares of the company's stock, valued at approximately $1,561,172.44. This represents a 8.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marcelo Bigal sold 4,912 shares of the firm'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 value of $116,267.04. Following the completion of the transaction, the director owned 11,393 shares of the company's stock, valued at approximately $269,672.31. The trade was a 30.13% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.40% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Pacira BioSciences from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Zacks Research raised shares of Pacira BioSciences from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Truist Financial raised shares of Pacira BioSciences from a "hold" rating to a "buy" rating and set a $30.00 price objective for the company in a report on Friday, July 25th. Finally, Needham & Company LLC reduced their target price on Pacira BioSciences from $32.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Pacira BioSciences currently has an average rating of "Moderate Buy" and a consensus target price of $30.83.

Pacira BioSciences Trading Down 0.8%

Shares of NASDAQ:PCRX traded down $0.21 during trading on Friday, reaching $26.65. 324,245 shares of the company traded hands, compared to its average volume of 796,669. 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 $12.61 and a 52-week high of $27.64. The business's fifty day moving average is $23.64 and its 200-day moving average is $24.57. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of -9.59 and a beta of 0.48.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last announced its quarterly earnings results 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 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 firm's revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.96 EPS. Pacira BioSciences has set its FY 2025 guidance at EPS. As a group, analysts forecast that Pacira BioSciences, Inc. will post 2.41 EPS for the current 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.