Milestone Asset Management LLC Takes Position in Pacira BioSciences, Inc. $PCRX

Key Points

• Milestone Asset Management LLC bought a new position of 51,105 shares in Pacira BioSciences (about $1.32M), and institutional investors now own roughly 99.73% of the stock.
• Corporate insiders have been net sellers recently — including CFO Shawn Cross and SVP Lauren Riker — with 19,320 shares sold over the last three months, leaving insiders with about 6.4% ownership.
• Analysts have a consensus rating of Hold and an average price target of $30.25; Pacira recently missed quarterly expectations (EPS $0.57 vs. $0.85 and revenue slightly below estimates), signaling mixed near-term outlooks.

Milestone Asset Management LLC purchased a new position in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 51,105 shares of the company's stock, valued at approximately $1,323,000. Milestone Asset Management LLC owned 0.12% of Pacira BioSciences as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Doma Perpetual Capital Management LLC grew its stake in Pacira BioSciences by 49.7% in the third quarter. Doma Perpetual Capital Management LLC now owns 2,701,324 shares of the company's stock valued at $69,613,000 after purchasing an additional 897,255 shares during the last quarter. Hussman Strategic Advisors Inc. purchased a new position in Pacira BioSciences in the third quarter worth $2,706,000. Impax Asset Management Group plc increased its position in shares of Pacira BioSciences by 27.7% during the third quarter. Impax Asset Management Group plc now owns 600,027 shares of the company's stock worth $15,463,000 after purchasing an additional 130,000 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Pacira BioSciences during the third quarter worth $1,948,000. Finally, Assenagon Asset Management S.A. grew its stake in 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 buying an additional 202,773 shares during the last quarter. 99.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Pacira BioSciences news, CFO Shawn Cross sold 1,500 shares of Pacira BioSciences stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $25.01, for a total value of $37,515.00. Following the completion of the transaction, the chief financial officer owned 105,341 shares of the company's stock, valued at approximately $2,634,578.41. The trade was a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Lauren Riker sold 4,000 shares of the company's stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $20.81, for a total transaction of $83,240.00. Following the completion of the transaction, the senior vice president owned 52,313 shares of the company's stock, valued at approximately $1,088,633.53. This trade represents a 7.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 19,320 shares of company stock valued at $460,254. Corporate insiders own 6.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PCRX. Weiss Ratings restated a "sell (d+)" rating on shares of Pacira BioSciences in a report on Monday, December 29th. Wall Street Zen downgraded Pacira BioSciences from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 28th. Barclays lowered their price target on Pacira BioSciences from $27.00 to $25.00 and set an "equal weight" rating for the company in a research report on Thursday, March 26th. HC Wainwright reissued a "buy" rating and issued a $38.00 price objective on shares of Pacira BioSciences in a report on Friday, January 9th. Finally, Zacks Research raised Pacira BioSciences from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 7th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $30.25.

Pacira BioSciences Stock Performance

NASDAQ PCRX opened at $24.88 on Thursday. The firm has a market capitalization of $1.01 billion, a P/E ratio of 165.87 and a beta of 0.19. The stock has a 50-day simple moving average of $22.96 and a two-hundred day simple moving average of $23.06. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.28 and a current ratio of 4.54. Pacira BioSciences, Inc. has a fifty-two week low of $18.80 and a fifty-two week high of $27.64.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported $0.57 EPS for the quarter, missing analysts' consensus estimates of $0.85 by ($0.28). The company had revenue of $196.87 million during the quarter, compared to analysts' expectations of $201.93 million. Pacira BioSciences had a return on equity of 10.39% and a net margin of 0.97%.The firm's quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 EPS. On average, equities analysts forecast that Pacira BioSciences, Inc. will post 1.85 earnings per share for the current year.

Pacira BioSciences Company 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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