44,284 Shares of Pacira BioSciences, Inc. $PCRX Bought by Ellsworth Advisors LLC

Ellsworth Advisors LLC bought a new stake in Pacira BioSciences, Inc. (NASDAQ:PCRX) during the third quarter, HoldingsChannel.com reports. The fund bought 44,284 shares of the company’s stock, valued at approximately $1,109,000.

Several other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Pacira BioSciences by 5.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,060,597 shares of the company’s stock worth $46,572,000 after purchasing an additional 110,584 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Pacira BioSciences by 17.8% during the second quarter. Wellington Management Group LLP now owns 563,458 shares of the company’s stock worth $14,295,000 after buying an additional 85,075 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Pacira BioSciences in the second quarter valued at approximately $7,532,000. Hillsdale Investment Management Inc. raised its position in shares of Pacira BioSciences by 7.5% in the first quarter. Hillsdale Investment Management Inc. now owns 331,300 shares of the company’s stock valued at $7,487,000 after buying an additional 23,100 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of Pacira BioSciences by 59.2% in the first quarter. First Trust Advisors LP now owns 300,632 shares of the company’s stock valued at $6,794,000 after buying an additional 111,743 shares during the last quarter. 99.73% of the stock is owned by institutional investors and hedge funds.

Pacira BioSciences Stock Performance

NASDAQ PCRX opened at $36.33 on Friday. The business’s 50-day moving average price is $26.37 and its 200 day moving average price is $24.98. The company has a current ratio of 5.04, a quick ratio of 3.94 and a debt-to-equity ratio of 0.54. Pacira BioSciences, Inc. has a twelve month low of $18.80 and a twelve month high of $36.67. The company has a market capitalization of $1.45 billion, a PE ratio of 23.33 and a beta of 0.25.

Pacira BioSciences (NASDAQ:PCRX) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.65 by $0.08. The company 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%. During the same quarter in the previous year, the business earned $0.74 EPS. The firm’s revenue was up 6.2% on a year-over-year basis. On average, research analysts predict that Pacira BioSciences, Inc. will post 1.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PCRX shares. Jefferies Financial Group downgraded shares of Pacira BioSciences from a “buy” rating to a “hold” rating and set a $36.00 price objective on the stock. in a research note on Thursday, October 8th. Royal Bank Of Canada lifted their target price on shares of Pacira BioSciences from $25.00 to $36.50 and gave the stock a “sector perform” rating in a research note on Friday, October 9th. Wall Street Zen raised shares of Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 26th. Oppenheimer initiated coverage on Pacira BioSciences in a report on Wednesday, September 23rd. They issued an “outperform” rating and a $32.00 price target for the company. Finally, Weiss Ratings raised Pacira BioSciences from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. One research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Pacira BioSciences has an average rating of “Hold” and a consensus price target of $33.33.

Insider Activity

In related news, SVP Lauren Riker sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $36.32, for a total value of $217,920.00. Following the sale, the senior vice president directly owned 62,284 shares of the company’s stock, valued at approximately $2,262,154.88. This trade represents a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 that occurred on Monday, August 17th. The stock was sold at an average price of $23.23, for a total transaction of $70,619.20. Following the completion of the sale, the insider directly owned 216,384 shares in the company, valued at $5,026,600.32. This represents a 1.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 6.40% of the company’s stock.

About Pacira BioSciences

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid pain-management products. The company’s portfolio is designed to help manage acute and chronic pain while reducing reliance on traditional opioid therapies.

Its principal product is EXPAREL, an extended-release formulation of bupivacaine used to provide postsurgical pain relief. Pacira also markets ZILRETTA, an extended-release corticosteroid injection for osteoarthritis-related knee pain, and the iovera° system, a handheld cryoanalgesia device intended to temporarily block peripheral nerves and provide targeted pain relief.

Originally known as Pacira Pharmaceuticals, the company adopted the name Pacira BioSciences in 2018 to reflect its broader focus on innovative therapies and technologies.