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 increased its position in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 3.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,804,069 shares of the company's stock after buying an additional 56,220 shares during the period. Pacira BioSciences accounts for 17.6% of Doma Perpetual Capital Management LLC's holdings, making the stock its biggest position. Doma Perpetual Capital Management LLC owned about 3.90% of Pacira BioSciences worth $44,831,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Rafferty Asset Management LLC purchased a new position in Pacira BioSciences during the first quarter valued at $251,000. FORA Capital LLC purchased a new position in Pacira BioSciences during the first quarter valued at $235,000. Walleye Capital LLC lifted its holdings in Pacira BioSciences by 120.6% during the first quarter. Walleye Capital LLC now owns 119,857 shares of the company's stock valued at $2,978,000 after purchasing an additional 65,514 shares in the last quarter. AlphaQuest LLC lifted its holdings in Pacira BioSciences by 44.7% during the first quarter. AlphaQuest LLC now owns 19,520 shares of the company's stock valued at $485,000 after purchasing an additional 6,027 shares in the last quarter. Finally, Martingale Asset Management L P purchased a new position in Pacira BioSciences during the first quarter valued at $807,000. 99.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pacira BioSciences

In other Pacira BioSciences news, Director Marcelo Bigal sold 4,912 shares of Pacira BioSciences 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 directly owned 11,393 shares in the company, 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. 6.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Pacira BioSciences Trading Down 0.1%

Pacira BioSciences stock traded down $0.04 during midday trading on Wednesday, hitting $27.18. 566,206 shares of the stock were exchanged, compared to its average volume of 795,908. Pacira BioSciences, Inc. has a fifty-two week low of $12.61 and a fifty-two week high of $27.64. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -9.78 and a beta of 0.42. The stock's 50-day simple moving average is $23.78 and its 200 day simple moving average is $24.56. 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 announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $181.10 million during the quarter, compared to analysts' expectations of $183.11 million. During the same period last year, the business earned $0.96 earnings per share. The business's revenue for the quarter was up 1.7% on a year-over-year basis. Pacira BioSciences has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Pacira BioSciences, Inc. will post 2.41 EPS for the current 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.