Quantbot Technologies LP Boosts Stake in Pacira BioSciences, Inc. $PCRX

Key Points

• Quantbot Technologies LP increased its stake in Pacira BioSciences by 3,394.6%, acquiring an additional 24,102 shares, bringing its total ownership to about 0.05% worth $617,000.
• Pacira BioSciences recently reported earnings of $0.74 per share, which exceeded analysts' expectations, although revenue fell short at $181.10 million.
• Research firms have mixed opinions on Pacira BioSciences, with several upgrading their ratings and target prices, leading to a consensus rating of "Moderate Buy" and an average target price of $30.83.

Quantbot Technologies LP increased its holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 3,394.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,812 shares of the company's stock after purchasing an additional 24,102 shares during the quarter. Quantbot Technologies LP owned approximately 0.05% of Pacira BioSciences worth $617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of PCRX. LPL Financial LLC bought a new stake in shares of Pacira BioSciences in the fourth quarter worth about $251,000. Raymond James Financial Inc. bought a new stake in shares of Pacira BioSciences in the fourth quarter worth about $190,000. MetLife Investment Management LLC grew its stake in shares of Pacira BioSciences by 5.6% in the fourth quarter. MetLife Investment Management LLC now owns 27,883 shares of the company's stock worth $525,000 after purchasing an additional 1,471 shares during the last quarter. State of Tennessee Department of Treasury grew its stake in shares of Pacira BioSciences by 14.2% in the fourth quarter. State of Tennessee Department of Treasury now owns 26,180 shares of the company's stock worth $493,000 after purchasing an additional 3,264 shares during the last quarter. Finally, Tudor Investment Corp ET AL bought a new stake in shares of Pacira BioSciences in the fourth quarter worth about $427,000. 99.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PCRX shares. Truist Financial raised Pacira BioSciences from a "hold" rating to a "buy" rating and set a $30.00 price objective on the stock in a research report on Friday, July 25th. Needham & Company LLC dropped their price target on Pacira BioSciences from $32.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Wall Street Zen raised Pacira BioSciences from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Finally, Zacks Research raised 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. According to data from MarketBeat, Pacira BioSciences presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.83.

Pacira BioSciences Stock Down 0.7%

NASDAQ PCRX traded down $0.18 during mid-day trading on Friday, reaching $26.67. The stock had a trading volume of 616,350 shares, compared to its average volume of 798,677. Pacira BioSciences, Inc. has a 1 year low of $12.61 and a 1 year high of $27.64. The stock has a market cap of $1.20 billion, a PE ratio of -9.59 and a beta of 0.48. The company has a fifty day moving average price of $23.64 and a 200 day moving average price of $24.57. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.38 and a quick ratio of 1.91.

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

Insider Buying and Selling

In related news, SVP Lauren Riker sold 5,578 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The shares were 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 directly owned 59,564 shares in the company, valued at $1,561,172.44. The trade was a 8.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Marcelo Bigal sold 4,912 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $23.67, for a total transaction of $116,267.04. Following the sale, the director owned 11,393 shares of the company's stock, valued at approximately $269,672.31. This represents a 30.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is owned by insiders.

About Pacira BioSciences

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.