Pacira BioSciences, Inc. $PCRX Shares Purchased by Walleye Capital LLC

Key Points

• Walleye Capital LLC increased its holdings in Pacira BioSciences by 120.6% during the first quarter, owning 119,857 shares valued at approximately $2.98 million.
• Pacira BioSciences reported second-quarter earnings of $0.74 EPS, beating analyst estimates, with revenues of $181.1 million, although slightly below expectations of $183.11 million.
• Several hedge funds have also significantly increased their stakes in Pacira BioSciences, with institutional investors collectively owning 99.73% of the company's stock.

Walleye Capital LLC grew its holdings in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 120.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 119,857 shares of the company's stock after purchasing an additional 65,514 shares during the period. Walleye Capital LLC owned approximately 0.26% of Pacira BioSciences worth $2,978,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PCRX. Point72 Asset Management L.P. purchased a new stake in shares of Pacira BioSciences during the 4th quarter valued at $20,266,000. American Century Companies Inc. lifted its holdings in shares of Pacira BioSciences by 392.2% during the 1st quarter. American Century Companies Inc. now owns 667,423 shares of the company's stock valued at $16,585,000 after purchasing an additional 531,831 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Pacira BioSciences during the 1st quarter valued at $12,884,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Pacira BioSciences during the 4th quarter valued at $8,558,000. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Pacira BioSciences during the 4th quarter valued at $8,180,000. Hedge funds and other institutional investors own 99.73% of the company's stock.

Insider Activity

In other Pacira BioSciences news, SVP Lauren Riker sold 5,578 shares of the stock in a transaction dated Wednesday, June 4th. The stock was 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 approximately $1,561,172.44. This trade represents a 8.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Marcelo Bigal sold 4,912 shares of the stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $23.67, for a total value of $116,267.04. Following the sale, the director directly owned 11,393 shares in the company, valued at $269,672.31. This represents a 30.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by company insiders.

Pacira BioSciences Stock Performance

PCRX traded down $0.18 during midday trading on Monday, hitting $26.67. 616,350 shares of the company were exchanged, compared to its average volume of 790,852. The company's 50 day simple moving average is $23.69 and its 200 day simple moving average is $24.53. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of -9.59 and a beta of 0.41. 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 1-year low of $12.61 and a 1-year high of $27.64.

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, topping the consensus estimate of $0.73 by $0.01. The company had revenue of $181.10 million for the quarter, compared to the consensus estimate of $183.11 million. Pacira BioSciences had a positive return on equity of 13.29% and a negative net margin of 18.08%.The firm's revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the firm earned $0.96 EPS. Pacira BioSciences has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Pacira BioSciences, Inc. will post 2.41 earnings per share for the current year.

Analysts Set New Price Targets

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

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.