Pacira BioSciences, Inc. $PCRX Stock Position Lifted by Intech Investment Management LLC

Key Points

• Intech Investment Management increased its Pacira BioSciences stake by 164.1% in the fourth quarter, buying an additional 103,593 shares and bringing its total to 166,715 shares worth about $4.3 million.
• Pacira reported quarterly earnings of $0.60 per share, slightly below analyst expectations, while revenue of $177.38 million came in above estimates and rose 5% year over year.
• Analyst sentiment remains mixed, with Pacira carrying an overall Hold rating and a consensus price target of $29.40; meanwhile, insiders have also been selling shares recently.

Intech Investment Management LLC lifted its holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 164.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 166,715 shares of the company's stock after purchasing an additional 103,593 shares during the quarter. Intech Investment Management LLC owned 0.39% of Pacira BioSciences worth $4,315,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of PCRX. Hantz Financial Services Inc. boosted its stake in Pacira BioSciences by 175.4% during the third quarter. Hantz Financial Services Inc. now owns 1,132 shares of the company's stock valued at $29,000 after buying an additional 721 shares in the last quarter. Global Retirement Partners LLC boosted its stake in Pacira BioSciences by 479.4% during the fourth quarter. Global Retirement Partners LLC now owns 2,028 shares of the company's stock valued at $52,000 after buying an additional 1,678 shares in the last quarter. Strs Ohio bought a new position in Pacira BioSciences during the first quarter valued at about $75,000. Wolverine Asset Management LLC boosted its stake in Pacira BioSciences by 122.1% during the fourth quarter. Wolverine Asset Management LLC now owns 3,000 shares of the company's stock valued at $78,000 after buying an additional 16,572 shares in the last quarter. Finally, iSAM Funds UK Ltd bought a new position in Pacira BioSciences during the third quarter valued at about $80,000. Institutional investors own 99.73% of the company's stock.

Pacira BioSciences Stock Performance

NASDAQ:PCRX opened at $23.22 on Monday. The company has a quick ratio of 3.35, a current ratio of 4.73 and a debt-to-equity ratio of 0.56. Pacira BioSciences, Inc. has a 1-year low of $18.80 and a 1-year high of $27.64. The firm has a market capitalization of $913.71 million, a price-to-earnings ratio of 193.52 and a beta of 0.29. The stock has a fifty day simple moving average of $23.58 and a 200 day simple moving average of $23.33.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.60 earnings per share for the quarter, missing analysts' consensus estimates of $0.61 by ($0.01). Pacira BioSciences had a net margin of 0.70% and a return on equity of 10.24%. The company had revenue of $177.38 million during the quarter, compared to analyst estimates of $171.80 million. During the same quarter last year, the business earned $0.65 EPS. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. Sell-side analysts forecast that Pacira BioSciences, Inc. will post 1.91 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Shawn Cross sold 12,941 shares of the stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $25.16, for a total value of $325,595.56. Following the completion of the transaction, the chief financial officer owned 105,341 shares in the company, valued at $2,650,379.56. This trade represents a 10.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Slonin sold 3,261 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $22.82, for a total value of $74,416.02. Following the completion of the transaction, the insider owned 223,640 shares of the company's stock, valued at $5,103,464.80. This trade represents a 1.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 28,261 shares of company stock valued at $702,610 in the last quarter. 6.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PCRX has been the subject of several research reports. Zacks Research raised Pacira BioSciences from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 7th. Weiss Ratings raised Pacira BioSciences from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, May 20th. Wall Street Zen cut Pacira BioSciences from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 28th. Needham & Company LLC raised their target price on Pacira BioSciences from $30.00 to $32.00 and gave the company a "buy" rating in a research note on Friday, May 1st. Finally, Barclays decreased their target price on Pacira BioSciences from $27.00 to $25.00 and set an "equal weight" rating for the company in a research note on Thursday, March 26th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Pacira BioSciences has an average rating of "Hold" and a consensus target price of $29.40.

Pacira BioSciences Company Profile

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid, non-addictive pain management and regenerative health solutions. The company's flagship product, EXPAREL, is a bupivacaine liposome injectable suspension designed to provide long-lasting postsurgical analgesia. EXPAREL is used by clinicians across a broad range of surgical procedures to reduce reliance on opioid medications and to help manage acute postoperative pain.

In addition to its marketed offering, Pacira maintains an active pipeline of investigational products aimed at addressing unmet needs in pain management and inflammation control.

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