Public Sector Pension Investment Board Grows Stock Position in Pacira BioSciences, Inc. $PCRX

Public Sector Pension Investment Board lifted its holdings in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 62.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 187,974 shares of the company's stock after purchasing an additional 72,517 shares during the quarter. Public Sector Pension Investment Board owned 0.41% of Pacira BioSciences worth $4,671,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new stake in Pacira BioSciences in the first quarter worth approximately $277,000. ProShare Advisors LLC lifted its position in Pacira BioSciences by 30.2% in the fourth quarter. ProShare Advisors LLC now owns 16,003 shares of the company's stock valued at $301,000 after purchasing an additional 3,710 shares during the last quarter. GAMMA Investing LLC lifted its position in Pacira BioSciences by 112.8% in the first quarter. GAMMA Investing LLC now owns 3,694 shares of the company's stock valued at $92,000 after purchasing an additional 1,958 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in 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 valued at $491,000 after purchasing an additional 794 shares during the last quarter. Finally, LPL Financial LLC bought a new stake in Pacira BioSciences in the fourth quarter valued at approximately $251,000. 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 business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $26.21, for a total value of $146,199.38. Following the completion of the transaction, the senior vice president owned 59,564 shares of the company's stock, valued at approximately $1,561,172.44. The trade was a 8.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Marcelo Bigal sold 4,912 shares of the business's 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 completion of the transaction, the director directly owned 11,393 shares of the company's stock, valued at approximately $269,672.31. This trade represents a 30.13% decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PCRX. 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. Zacks Research upgraded Pacira BioSciences from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. 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. Finally, Wall Street Zen upgraded Pacira BioSciences from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $30.83.

Pacira BioSciences Stock Up 0.8%

Shares of PCRX traded up $0.2140 during trading hours on Friday, hitting $25.6040. The company had a trading volume of 89,144 shares, compared to its average volume of 800,028. The firm has a fifty day moving average price of $23.47 and a 200-day moving average price of $24.58. 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 stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of -9.21 and a beta of 0.48. Pacira BioSciences, Inc. has a 52-week low of $12.61 and a 52-week high of $27.64.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.74 earnings per share (EPS) 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 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 quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.96 EPS. Pacira BioSciences has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Pacira BioSciences, Inc. will post 2.41 EPS for the current fiscal year.

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.