Pacira BioSciences, Inc. $PCRX is Doma Perpetual Capital Management LLC's Largest Position

Key Points

• Doma Perpetual Capital Management LLC increased its stake in Pacira BioSciences by 3.2%, making it their largest holding, now representing approximately 17.6% of their portfolio.
• Several analysts have upgraded Pacira BioSciences' rating to "buy", with a consensus target price of $30.83, pointing to growing investor confidence in the company's prospects.
• The company reported a quarterly EPS of $0.74, slightly surpassing expectations, although revenue was below consensus estimates at $181.10 million.

Doma Perpetual Capital Management LLC boosted its holdings in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 3.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,804,069 shares of the company's stock after purchasing an additional 56,220 shares during the period. Pacira BioSciences comprises approximately 17.6% of Doma Perpetual Capital Management LLC's investment portfolio, making the stock its biggest holding. Doma Perpetual Capital Management LLC owned approximately 3.90% of Pacira BioSciences worth $44,831,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. State of Wyoming lifted its position in Pacira BioSciences by 8.0% during the fourth quarter. State of Wyoming now owns 6,566 shares of the company's stock valued at $124,000 after purchasing an additional 487 shares during the period. US Bancorp DE raised its position in shares of Pacira BioSciences by 31.0% in the first quarter. US Bancorp DE now owns 2,270 shares of the company's stock worth $56,000 after acquiring an additional 537 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Pacira BioSciences by 3.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,077 shares of the company's stock worth $491,000 after acquiring an additional 794 shares during the period. Corton Capital Inc. raised its position in shares of 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 during the period. Finally, Ancora Advisors LLC acquired a new position in shares of Pacira BioSciences in the fourth quarter worth about $26,000. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Pacira BioSciences

In related news, Director Marcelo Bigal sold 4,912 shares of the company's stock in a transaction dated 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 approximately $269,672.31. This represents a 30.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 6.40% of the company's stock.

Wall Street Analysts Forecast Growth

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

Pacira BioSciences Price Performance

Shares of PCRX traded down $0.48 during mid-day trading on Thursday, hitting $26.70. 332,791 shares of the company were exchanged, compared to its average volume of 794,483. Pacira BioSciences, Inc. has a 1-year low of $12.61 and a 1-year high of $27.64. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.91 and a current ratio of 2.38. The company has a 50 day moving average of $23.85 and a 200-day moving average of $24.58. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -9.60 and a beta of 0.42.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last announced its quarterly earnings data 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. Pacira BioSciences had a negative net margin of 18.08% and a positive return on equity of 13.29%. The company had revenue of $181.10 million during the quarter, compared to analysts' expectations of $183.11 million. During the same quarter in the prior year, the company earned $0.96 EPS. Pacira BioSciences's revenue was up 1.7% compared to the same quarter last year. Pacira BioSciences has set its FY 2025 guidance at EPS. Analysts expect that Pacira BioSciences, Inc. will post 2.41 EPS for the current fiscal year.

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.