PDT Partners LLC Sells 41,615 Shares of Pacira BioSciences, Inc. $PCRX

Key Points

• PDT Partners LLC has reduced its stake in Pacira BioSciences by 16.7%, bringing its total ownership to $5.14 million, equivalent to 0.45% of the company.
• The company reported a 0.74 EPS for the last quarter, exceeding analysts' expectations and showing a 1.7% year-over-year revenue growth to $181.10 million.
• Analysts have a consensus rating of "Moderate Buy" for Pacira BioSciences, with an average price target set at $30.83.

PDT Partners LLC reduced its position in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 16.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 206,992 shares of the company's stock after selling 41,615 shares during the quarter. PDT Partners LLC owned approximately 0.45% of Pacira BioSciences worth $5,144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Ancora Advisors LLC bought a new position in shares of Pacira BioSciences in the fourth quarter worth $26,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Pacira BioSciences in the first quarter worth $51,000. US Bancorp DE boosted its holdings in shares of Pacira BioSciences by 31.0% in the first quarter. US Bancorp DE now owns 2,270 shares of the company's stock worth $56,000 after acquiring an additional 537 shares during the period. Brooklyn Investment Group boosted its holdings in shares of Pacira BioSciences by 372.2% in the first quarter. Brooklyn Investment Group now owns 2,238 shares of the company's stock worth $56,000 after acquiring an additional 1,764 shares during the period. Finally, Wealthquest Corp bought a new position in shares of Pacira BioSciences in the first quarter worth $59,000. 99.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Marcelo Bigal sold 4,912 shares of the company'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 in the company, valued at approximately $269,672.31. This represents a 30.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.40% of the company's stock.

Pacira BioSciences Price Performance

Pacira BioSciences stock traded down $0.28 during midday trading on Friday, hitting $26.45. 606,830 shares of the company's stock were exchanged, compared to its average volume of 663,404. Pacira BioSciences, Inc. has a 52-week low of $12.61 and a 52-week high of $27.64. The stock has a 50-day moving average price of $23.97 and a two-hundred day moving average price of $24.59. 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 company has a market cap of $1.19 billion, a P/E ratio of -9.51 and a beta of 0.42.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. Pacira BioSciences had a positive return on equity of 13.29% and a negative net margin of 18.08%.The firm had revenue of $181.10 million during the quarter, compared to analysts' expectations of $183.11 million. During the same period in the prior year, the business earned $0.96 EPS. The company's revenue for the quarter was up 1.7% compared to the same quarter last year. Pacira BioSciences has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Pacira BioSciences, Inc. will post 2.41 earnings per share for the current year.

Analysts Set New Price Targets

PCRX has been the subject of a number of analyst reports. Needham & Company LLC cut their price target on Pacira BioSciences from $32.00 to $30.00 and set a "buy" rating for the company in a report on Friday, May 9th. Wall Street Zen raised Pacira BioSciences from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. 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 research report on Friday, July 25th. Finally, Zacks Research upgraded 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, the stock has a consensus rating of "Moderate Buy" and an average price target of $30.83.

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.