Rice Hall James & Associates LLC Sells 92,411 Shares of Pacira BioSciences, Inc. $PCRX

Key Points

• Rice Hall James & Associates cut its Pacira BioSciences stake by 51% in the first quarter, selling 92,411 shares and retaining 88,844 shares valued at approximately $2.0 million. Institutional investors collectively own 99.73% of PCRX.
• Pacira reported quarterly revenue of $177.38 million, up 5% year over year and above expectations, but earnings per share of $0.60 narrowly missed the $0.61 consensus estimate.
• Analyst sentiment is mixed, with PCRX receiving an overall “Hold” rating and a consensus price target of $29.40; recent targets range from $24 to $38.

Rice Hall James & Associates LLC reduced its holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 51.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 88,844 shares of the company's stock after selling 92,411 shares during the quarter. Rice Hall James & Associates LLC owned approximately 0.23% of Pacira BioSciences worth $2,008,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. PNC Financial Services Group Inc. grew its stake in shares of Pacira BioSciences by 15.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,751 shares of the company's stock worth $85,000 after purchasing an additional 492 shares during the last quarter. Inspire Investing LLC raised its position in Pacira BioSciences by 3.2% during the 4th quarter. Inspire Investing LLC now owns 17,958 shares of the company's stock worth $465,000 after purchasing an additional 556 shares during the last quarter. State of Wyoming lifted its holdings in Pacira BioSciences by 7.0% during the 4th quarter. State of Wyoming now owns 11,155 shares of the company's stock worth $289,000 after buying an additional 728 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Pacira BioSciences by 8.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 10,604 shares of the company's stock worth $259,000 after buying an additional 785 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of Pacira BioSciences by 2.6% in the 4th quarter. Franklin Resources Inc. now owns 33,860 shares of the company's stock valued at $876,000 after buying an additional 846 shares during the last quarter. Institutional investors own 99.73% of the company's stock.

Pacira BioSciences Stock Performance

Shares of PCRX opened at $25.88 on Monday. The company has a current ratio of 4.73, a quick ratio of 3.35 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $1.02 billion, a P/E ratio of 215.68 and a beta of 0.27. The firm's fifty day simple moving average is $24.09 and its two-hundred day simple moving average is $23.18. Pacira BioSciences, Inc. has a 12 month low of $18.80 and a 12 month high of $27.64.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.01). Pacira BioSciences had a return on equity of 10.24% and a net margin of 0.70%.The business had revenue of $177.38 million during the quarter, compared to the consensus estimate of $171.80 million. During the same period last year, the business posted $0.65 earnings per share. The business's revenue was up 5.0% on a year-over-year basis. As a group, analysts predict that Pacira BioSciences, Inc. will post 1.94 EPS for the current year.

Insiders Place Their Bets

In other Pacira BioSciences news, SVP Lauren Riker sold 6,115 shares of the business's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $23.50, for a total value of $143,702.50. Following the transaction, the senior vice president directly owned 62,284 shares of the company's stock, valued at approximately $1,463,674. The trade was a 8.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 6.40% of the company's stock.

Analyst Ratings Changes

PCRX has been the subject of several recent research reports. Zacks Research raised Pacira BioSciences from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 7th. HC Wainwright reaffirmed a "buy" rating and issued a $38.00 price objective on shares of Pacira BioSciences in a research note on Wednesday, July 1st. Royal Bank Of Canada upped their target price on Pacira BioSciences from $22.00 to $24.00 and gave the company a "sector perform" rating in a report on Friday, May 1st. Weiss Ratings raised shares of Pacira BioSciences from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, May 20th. Finally, Needham & Company LLC raised their price target on shares of Pacira BioSciences from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Friday, May 1st. Three equities research 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. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $29.40.

About Pacira BioSciences

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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