Quantbot Technologies LP Acquires New Holdings in Pacira BioSciences, Inc. $PCRX

Quantbot Technologies LP bought a new stake in Pacira BioSciences, Inc. (NASDAQ:PCRX) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 19,704 shares of the company’s stock, valued at approximately $500,000.

A number of other large investors have also added to or reduced their stakes in PCRX. Balyasny Asset Management L.P. boosted its holdings in shares of Pacira BioSciences by 36.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,130,733 shares of the company’s stock valued at $50,925,000 after buying an additional 565,288 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Pacira BioSciences by 49.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company’s stock worth $27,454,000 after acquiring an additional 367,869 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in shares of Pacira BioSciences during the 4th quarter worth approximately $7,976,000. Bank of New York Mellon Corp purchased a new stake in Pacira BioSciences during the second quarter valued at approximately $7,532,000. Finally, LSV Asset Management lifted its position in Pacira BioSciences by 179.8% during the fourth quarter. LSV Asset Management now owns 319,800 shares of the company’s stock valued at $8,276,000 after acquiring an additional 205,500 shares during the last quarter. 99.73% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Lauren Riker sold 6,115 shares of the company’s stock in a transaction 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 $1,463,674. This represents a 8.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Slonin sold 3,040 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $23.23, for a total value of $70,619.20. Following the completion of the transaction, the insider owned 216,384 shares of the company’s stock, valued at $5,026,600.32. This trade represents a 1.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wall Street Zen lowered shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 16th. HC Wainwright reiterated a “buy” rating and set a $38.00 price objective on shares of Pacira BioSciences in a report on Wednesday, July 1st. Weiss Ratings reissued a “sell (d+)” rating on shares of Pacira BioSciences in a research report on Monday, August 17th. Needham & Company LLC boosted their target price on Pacira BioSciences from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Royal Bank Of Canada upped their target price on Pacira BioSciences from $24.00 to $25.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 5th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Pacira BioSciences currently has a consensus rating of “Hold” and a consensus price target of $30.20.

Pacira BioSciences Stock Down 0.3%

PCRX stock opened at $25.83 on Friday. The stock has a market capitalization of $1.03 billion, a PE ratio of 73.80 and a beta of 0.27. Pacira BioSciences, Inc. has a 52 week low of $18.80 and a 52 week high of $27.66. The company has a quick ratio of 3.94, a current ratio of 5.04 and a debt-to-equity ratio of 0.54. The firm has a 50 day moving average of $25.12 and a 200 day moving average of $23.82.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. The business had revenue of $192.40 million for the quarter, compared to analyst estimates of $191.06 million. Pacira BioSciences had a net margin of 1.96% and a return on equity of 9.68%. Pacira BioSciences’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.74 EPS. Sell-side analysts forecast that Pacira BioSciences, Inc. will post 1.98 earnings per share for the current year.

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.