Pacira BioSciences, Inc. $PCRX Shares Bought by Gagnon Securities LLC

Key Points

• Gagnon Securities LLC increased its stake in Pacira BioSciences, owning 368,353 shares after acquiring an additional 60,019 shares, now representing 1.8% of its portfolio.
• Pacira BioSciences reported earnings of $0.74 per share for the last quarter, exceeding estimates, but with revenue of $181.10 million slightly below expectations.
• Equities analysts have mixed ratings on Pacira, with a consensus rating of "Hold" and an average target price of $33.40.

Gagnon Securities LLC raised its position in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 19.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 368,353 shares of the company's stock after acquiring an additional 60,019 shares during the quarter. Pacira BioSciences makes up approximately 1.8% of Gagnon Securities LLC's portfolio, making the stock its 24th biggest position. Gagnon Securities LLC owned 0.80% of Pacira BioSciences worth $8,804,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new position in Pacira BioSciences in the 1st quarter valued at about $51,000. US Bancorp DE boosted its stake in shares of Pacira BioSciences by 31.0% in the 1st quarter. US Bancorp DE now owns 2,270 shares of the company's stock valued at $56,000 after buying an additional 537 shares during the period. Brooklyn Investment Group boosted its stake in shares of Pacira BioSciences by 372.2% in the 1st quarter. Brooklyn Investment Group now owns 2,238 shares of the company's stock valued at $56,000 after buying an additional 1,764 shares during the period. Wealthquest Corp purchased a new position in shares of Pacira BioSciences in the 1st quarter valued at about $59,000. Finally, Strs Ohio purchased a new position in shares of Pacira BioSciences in the 1st quarter valued at about $75,000. 99.73% of the stock is owned by institutional investors and hedge funds.

Pacira BioSciences Price Performance

PCRX stock opened at $23.62 on Wednesday. The business has a 50 day moving average price of $25.35 and a 200 day moving average price of $24.88. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -8.50 and a beta of 0.40. Pacira BioSciences, Inc. has a fifty-two week low of $15.16 and a fifty-two week high of $27.64. The company has a quick ratio of 1.91, a current ratio of 2.38 and a debt-to-equity ratio of 0.50.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last posted its 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 firm had revenue of $181.10 million during the quarter, compared to analysts' expectations 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 was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.96 earnings per share. Pacira BioSciences has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Pacira BioSciences, Inc. will post 2.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Pacira BioSciences news, Director Marcelo Bigal sold 4,912 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $23.67, for a total value of $116,267.04. Following the completion of the sale, the director 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.40% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PCRX shares. Zacks Research upgraded Pacira BioSciences from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 14th. Truist Financial upgraded 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. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Pacira BioSciences in a research note on Saturday, September 27th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $33.40.

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.

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