Connor Clark & Lunn Investment Management Ltd. Increases Stock Position in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Connor Clark & Lunn Investment Management Ltd. raised its holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 288.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 171,377 shares of the company's stock after acquiring an additional 127,240 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.37% of Pacira BioSciences worth $4,259,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Sterling Capital Management LLC boosted its position in Pacira BioSciences by 779.4% during the fourth quarter. Sterling Capital Management LLC now owns 1,363 shares of the company's stock valued at $26,000 after purchasing an additional 1,208 shares during the last quarter. Ancora Advisors LLC bought a new stake in Pacira BioSciences in the fourth quarter valued at approximately $26,000. US Bancorp DE raised its stake in Pacira BioSciences by 31.0% in the first quarter. US Bancorp DE now owns 2,270 shares of the company's stock valued at $56,000 after buying an additional 537 shares during the period. Wealthquest Corp bought a new position in shares of Pacira BioSciences during the first quarter worth approximately $59,000. Finally, GAMMA Investing LLC increased its stake in shares of Pacira BioSciences by 112.8% during the first quarter. GAMMA Investing LLC now owns 3,694 shares of the company's stock worth $92,000 after purchasing an additional 1,958 shares during the period. 99.73% of the stock is owned by institutional investors and hedge funds.

Pacira BioSciences Price Performance

Shares of Pacira BioSciences stock traded down $0.21 during trading on Friday, hitting $24.78. The stock had a trading volume of 986,681 shares, compared to its average volume of 801,322. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -8.91 and a beta of 0.48. Pacira BioSciences, Inc. has a 12 month low of $12.61 and a 12 month high of $27.64. The business's 50-day moving average is $23.44 and its 200 day moving average is $24.61. 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 (NASDAQ:PCRX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.74 earnings per share (EPS) 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 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 company's revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.96 earnings per share. As a group, sell-side analysts anticipate that Pacira BioSciences, Inc. will post 2.41 earnings per share for the current year.

Insider Activity

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Needham & Company LLC lowered 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. 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 note on Friday, July 25th. Finally, Wall Street Zen upgraded Pacira BioSciences from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Pacira BioSciences currently has a consensus rating of "Moderate Buy" and an average price target of $30.83.

Pacira BioSciences 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.