Connor Clark & Lunn Investment Management Ltd. Increases Stock Position in Pacira BioSciences, Inc. $PCRX

Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 288.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 171,377 shares of the company's stock after purchasing an additional 127,240 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.37% of Pacira BioSciences worth $4,259,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of PCRX. State of Wyoming grew its stake in shares of Pacira BioSciences by 8.0% in the 4th quarter. State of Wyoming now owns 6,566 shares of the company's stock valued at $124,000 after buying an additional 487 shares during the period. US Bancorp DE grew its position in shares of Pacira BioSciences by 31.0% during the 1st quarter. US Bancorp DE now owns 2,270 shares of the company's stock valued at $56,000 after purchasing an additional 537 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Pacira BioSciences by 3.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,077 shares of the company's stock valued at $491,000 after purchasing an additional 794 shares in the last quarter. Sterling Capital Management LLC grew its position in shares of Pacira BioSciences by 779.4% during the 4th 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 in the last quarter. Finally, Corton Capital Inc. grew its position in Pacira BioSciences by 6.0% in the fourth quarter. Corton Capital Inc. now owns 21,575 shares of the company's stock worth $406,000 after acquiring an additional 1,214 shares in the last quarter. 99.73% of the stock is owned by institutional investors.

Pacira BioSciences Stock Up 0.5%

Shares of NASDAQ PCRX traded up $0.13 during trading hours on Monday, hitting $24.91. 307,581 shares of the stock were exchanged, compared to its average volume of 806,976. The company has a quick ratio of 1.91, a current ratio of 2.38 and a debt-to-equity ratio of 0.50. The company has a market cap of $1.12 billion, a PE ratio of -8.97 and a beta of 0.48. The firm has a fifty day moving average price of $23.44 and a 200-day moving average price of $24.59. Pacira BioSciences, Inc. has a 12 month low of $12.61 and a 12 month high of $27.64.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. The business had revenue of $181.10 million for the quarter, compared to the consensus estimate 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 for the quarter was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.96 EPS. On average, sell-side analysts expect that Pacira BioSciences, Inc. will post 2.41 EPS for the current year.

Insiders Place Their Bets

In other news, 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 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 trade represents a 8.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 transaction of $116,267.04. Following the completion of the transaction, the director directly 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.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PCRX shares. 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 research note on Friday, July 25th. Needham & Company LLC cut their price target on shares of Pacira BioSciences from $32.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, May 9th. 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. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price 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.