Pacira BioSciences, Inc. (NASDAQ:PCRX) Shares Acquired by Global Alpha Capital Management Ltd.

Key Points

• Global Alpha Capital Management Ltd. increased its stake in Pacira BioSciences by 43.1% during Q1, now owning 57,086 shares valued at $1.42 million.
• Analysts have mixed views on Pacira BioSciences, with six maintaining a buy rating while the consensus target price for the stock is $25.75.
• Pacira's shares rose 5.9% recently, with a market cap of $1.13 billion and a 12-month price range between $11.16 and $27.64.

Global Alpha Capital Management Ltd. raised its holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 43.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,086 shares of the company's stock after buying an additional 17,186 shares during the quarter. Global Alpha Capital Management Ltd. owned approximately 0.12% of Pacira BioSciences worth $1,419,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Pacira BioSciences by 288.3% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 171,377 shares of the company's stock valued at $4,259,000 after buying an additional 127,240 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Pacira BioSciences by 4.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 524,486 shares of the company's stock worth $13,033,000 after purchasing an additional 22,282 shares during the period. Phocas Financial Corp. purchased a new stake in shares of Pacira BioSciences during the 1st quarter worth about $3,540,000. Banco Santander S.A. grew its holdings in shares of Pacira BioSciences by 11.9% during the 1st quarter. Banco Santander S.A. now owns 142,000 shares of the company's stock worth $3,529,000 after purchasing an additional 15,100 shares during the period. Finally, US Bancorp DE grew its holdings 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 worth $56,000 after purchasing an additional 537 shares during the period. Hedge funds and other institutional investors own 99.73% of the company's stock.

Insider Buying and Selling

In other Pacira BioSciences news, SVP Lauren Riker sold 5,578 shares of the company's 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 transaction, the senior vice president directly owned 59,564 shares of the company's stock, valued at $1,561,172.44. This represents a 8.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Marcelo Bigal sold 4,912 shares of the company'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 directly owned 11,393 shares in the company, valued at approximately $269,672.31. The trade was a 30.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.40% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PCRX shares. Needham & Company LLC decreased their target price on Pacira BioSciences from $32.00 to $30.00 and set a "buy" rating for the company in a report on Friday, May 9th. Truist Financial upgraded Pacira BioSciences from a "hold" rating to a "buy" rating and set a $30.00 target price for the company in a report on Friday, July 25th. Finally, Wall Street Zen upgraded Pacira BioSciences from a "hold" rating to a "buy" rating in a report 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.com, Pacira BioSciences has an average rating of "Moderate Buy" and an average price target of $30.83.

Pacira BioSciences Stock Down 0.2%

Pacira BioSciences stock traded down $0.05 during midday trading on Thursday, hitting $24.99. 371,477 shares of the company were exchanged, compared to its average volume of 806,502. The company's fifty day moving average price is $23.50 and its 200-day moving average price is $24.62. The company has a market cap of $1.12 billion, a PE ratio of -8.94 and a beta of 0.48. 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, Inc. has a fifty-two week low of $12.61 and a fifty-two week high of $27.64.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. The firm had revenue of $181.10 million for the quarter, compared to analyst estimates of $183.11 million. Pacira BioSciences had a positive return on equity of 13.29% and a negative net margin of 18.08%. Pacira BioSciences's revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.96 EPS. On average, research analysts predict that Pacira BioSciences, Inc. will post 2.41 EPS for the current fiscal 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.