Pacira BioSciences, Inc. $PCRX Stock Bought by Bridge City Capital LLC

Key Points

• Bridge City Capital increased its Pacira BioSciences stake by 12.9% in the third quarter to 352,738 shares valued at approximately $8.84 million. Institutional investors collectively own 99.73% of PCRX.
• Analyst sentiment remains mostly cautious: the stock has an average “Hold” rating, with nine Holds, one Buy, and one Sell, and an average price target of $33.33.
• Pacira’s latest quarterly results exceeded expectations, with EPS of $0.73 versus the $0.65 consensus and revenue of $192.4 million, up 6.2% year over year. Shares opened at $36.39, near their 12-month high of $36.67.

Bridge City Capital LLC grew its position in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 12.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 352,738 shares of the company's stock after acquiring an additional 40,441 shares during the quarter. Pacira BioSciences accounts for 1.8% of Bridge City Capital LLC's portfolio, making the stock its 11th biggest holding. Bridge City Capital LLC owned approximately 0.88% of Pacira BioSciences worth $8,836,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PCRX. Dimensional Fund Advisors LP lifted its holdings in shares of Pacira BioSciences by 5.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,060,597 shares of the company's stock worth $46,572,000 after acquiring an additional 110,584 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Pacira BioSciences by 17.8% in the 2nd quarter. Wellington Management Group LLP now owns 563,458 shares of the company's stock worth $14,295,000 after buying an additional 85,075 shares during the period. Hillsdale Investment Management Inc. grew its holdings in Pacira BioSciences by 7.5% during the 1st quarter. Hillsdale Investment Management Inc. now owns 331,300 shares of the company's stock worth $7,487,000 after acquiring an additional 23,100 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Pacira BioSciences by 59.2% during the first quarter. First Trust Advisors LP now owns 300,632 shares of the company's stock valued at $6,794,000 after purchasing an additional 111,743 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Pacira BioSciences in the 2nd quarter worth $7,532,000. 99.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Lauren Riker sold 6,000 shares of the business's stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $36.32, for a total transaction of $217,920.00. Following the completion of the sale, the senior vice president owned 62,284 shares in the company, valued at approximately $2,262,154.88. The trade was a 8.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Slonin sold 3,040 shares of the company's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $23.23, for a total value of $70,619.20. Following the completion of the sale, the insider directly owned 216,384 shares of the company's stock, valued at approximately $5,026,600.32. This trade represents a 1.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on PCRX. Weiss Ratings raised Pacira BioSciences from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, October 8th. Wall Street Zen upgraded shares of Pacira BioSciences from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 26th. Truist Financial lowered shares of Pacira BioSciences from a "buy" rating to a "hold" rating and increased their price objective for the company from $31.00 to $36.50 in a research report on Friday, October 9th. HC Wainwright cut shares of Pacira BioSciences from a "buy" rating to a "hold" rating and lowered their target price for the stock from $38.00 to $36.50 in a research note on Friday, October 9th. Finally, JPMorgan Chase & Co. raised shares of Pacira BioSciences from an "underweight" rating to a "neutral" rating and set a $36.50 target price on the stock in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $33.33.

Pacira BioSciences Stock Performance

Shares of PCRX stock opened at $36.39 on Monday. The company has a current ratio of 5.04, a quick ratio of 3.94 and a debt-to-equity ratio of 0.54. Pacira BioSciences, Inc. has a twelve month low of $18.80 and a twelve month high of $36.67. The company's 50-day moving average price is $29.06 and its 200-day moving average price is $24.82. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 103.97 and a beta of 0.25.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.08. Pacira BioSciences had a return on equity of 9.68% and a net margin of 1.96%. The company had revenue of $192.40 million for the quarter, compared to the consensus estimate of $191.06 million. During the same quarter in the previous year, the business earned $0.74 earnings per share. The company's revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities analysts predict that Pacira BioSciences, Inc. will post 1.86 earnings per share for the current year.

Pacira BioSciences Profile

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid pain-management and regenerative health solutions. The company's products are designed to address acute postsurgical pain and osteoarthritis-related pain while supporting efforts to reduce reliance on opioid medications.

Pacira's lead product is EXPAREL, an extended-release formulation of bupivacaine administered by injection for postsurgical pain management. The company also markets ZILRETTA, an extended-release corticosteroid injection indicated for osteoarthritis knee pain, and iovera°, a cryoanalgesia system that uses controlled cooling to temporarily block peripheral nerves and relieve pain.

Formerly known as Pacira Pharmaceuticals, the company adopted the Pacira BioSciences name to reflect its broader focus on innovative pain and regenerative-health therapies.

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