Rafferty Asset Management LLC Purchases Shares of 10,092 Pacira BioSciences, Inc. $PCRX

Key Points

• Rafferty Asset Management LLC has acquired a new position in Pacira BioSciences, purchasing 10,092 shares valued at approximately $251,000.
• Institutional ownership of Pacira BioSciences is high, with 99.73% of the stock currently held by institutional investors.
• Pacira BioSciences reported an earnings per share (EPS) of $0.74 for the recent quarter, exceeding analysts' expectations, but had a negative net margin of 18.08%.

Rafferty Asset Management LLC purchased a new position in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,092 shares of the company's stock, valued at approximately $251,000.

A number of other hedge funds have also modified their holdings of the business. FORA Capital LLC acquired a new position in Pacira BioSciences during the 1st quarter worth approximately $235,000. Walleye Capital LLC boosted its stake in Pacira BioSciences by 120.6% in the 1st quarter. Walleye Capital LLC now owns 119,857 shares of the company's stock valued at $2,978,000 after buying an additional 65,514 shares in the last quarter. AlphaQuest LLC raised its position in shares of Pacira BioSciences by 44.7% during the first quarter. AlphaQuest LLC now owns 19,520 shares of the company's stock worth $485,000 after acquiring an additional 6,027 shares during the last quarter. Martingale Asset Management L P bought a new stake in shares of Pacira BioSciences in the first quarter worth about $807,000. Finally, Hsbc Holdings PLC boosted its position in Pacira BioSciences by 52.2% during the first quarter. Hsbc Holdings PLC now owns 22,939 shares of the company's stock valued at $565,000 after purchasing an additional 7,864 shares during the last quarter. 99.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PCRX has been the topic of a number of analyst reports. Zacks Research upgraded Pacira BioSciences from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 14th. Truist Financial upgraded shares of Pacira BioSciences from a "hold" rating to a "buy" rating and set a $30.00 target price for the company in a research note on Friday, July 25th. Finally, Wall Street Zen upgraded shares of Pacira BioSciences from a "hold" rating to a "buy" rating in a research note 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. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $30.83.

Pacira BioSciences Stock Up 0.3%

Shares of PCRX traded up $0.08 during trading hours on Monday, reaching $26.53. The company's stock had a trading volume of 240,792 shares, compared to its average volume of 792,719. Pacira BioSciences, Inc. has a 1-year low of $12.61 and a 1-year high of $27.64. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -9.52 and a beta of 0.41. The company has a 50 day moving average of $23.97 and a two-hundred day moving average of $24.57. The company has a quick ratio of 1.91, a current ratio of 2.38 and a debt-to-equity ratio of 0.50.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.74 earnings per share for the quarter, beating 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 business had revenue of $181.10 million for the quarter, compared to the consensus estimate of $183.11 million. During the same period last year, the company posted $0.96 EPS. Pacira BioSciences'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. As a group, research analysts predict that Pacira BioSciences, Inc. will post 2.41 EPS for the current fiscal year.

Insider Transactions at Pacira BioSciences

In other news, Director Marcelo Bigal sold 4,912 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $23.67, for a total transaction of $116,267.04. Following the completion of the transaction, the director 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.40% of the company's stock.

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.