Hennion & Walsh Asset Management Inc. Buys 48,124 Shares of Pacira BioSciences, Inc. $PCRX

Hennion & Walsh Asset Management Inc. grew its position in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 31.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 203,520 shares of the company’s stock after buying an additional 48,124 shares during the period. Hennion & Walsh Asset Management Inc. owned 0.52% of Pacira BioSciences worth $5,163,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its holdings in Pacira BioSciences by 5,900.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,500 shares of the company’s stock valued at $39,000 after purchasing an additional 1,475 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Pacira BioSciences during the 1st quarter valued at approximately $46,000. Kestra Advisory Services LLC bought a new position in Pacira BioSciences in the 4th quarter worth approximately $48,000. Eurizon Capital SGR S.p.A. bought a new position in Pacira BioSciences in the 4th quarter worth approximately $51,000. Finally, Global Retirement Partners LLC raised its holdings in Pacira BioSciences by 479.4% during the 4th quarter. Global Retirement Partners LLC now owns 2,028 shares of the company’s stock valued at $52,000 after acquiring an additional 1,678 shares during the period. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Stock Performance

Pacira BioSciences stock opened at $25.02 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.94 and a current ratio of 5.04. Pacira BioSciences, Inc. has a fifty-two week low of $18.80 and a fifty-two week high of $27.66. The stock has a market cap of $997.30 million, a P/E ratio of 71.49 and a beta of 0.27. The firm’s fifty day moving average price is $24.69 and its 200-day moving average price is $23.43.

Pacira BioSciences (NASDAQ:PCRX) last posted its earnings results on Tuesday, August 4th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.65 by $0.08. The business had revenue of $192.40 million during the quarter, compared to analysts’ expectations of $191.06 million. Pacira BioSciences had a return on equity of 9.68% and a net margin of 1.96%.The firm’s revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.74 earnings per share. Equities research analysts forecast that Pacira BioSciences, Inc. will post 1.94 earnings per share for the current fiscal year.

Insider Activity at Pacira BioSciences

In related news, SVP Lauren Riker sold 6,115 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were 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 in the company, valued at approximately $1,463,674. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 6.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PCRX shares. Wall Street Zen raised Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a report on Saturday. Royal Bank Of Canada increased their price objective on Pacira BioSciences from $24.00 to $25.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 5th. Weiss Ratings upgraded Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. HC Wainwright reiterated a “buy” rating and set a $38.00 price target on shares of Pacira BioSciences in a research report on Wednesday, July 1st. Finally, Needham & Company LLC increased their price target on shares of Pacira BioSciences from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $29.80.

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.