Public Employees Retirement System of Ohio Buys Shares of 41,385 Pacira BioSciences, Inc. $PCRX

Public Employees Retirement System of Ohio purchased a new stake in Pacira BioSciences, Inc. (NASDAQ:PCRX) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 41,385 shares of the company’s stock, valued at approximately $1,050,000.

Several other institutional investors and hedge funds have also made changes to their positions in PCRX. Bank of America Corp DE purchased a new stake in shares of Pacira BioSciences in the 2nd quarter worth about $6,089,000. Man Group plc purchased a new position in Pacira BioSciences during the 2nd quarter valued at about $3,181,000. Jupiter Topco LLC acquired a new position in Pacira BioSciences during the second quarter worth about $308,000. J. Goldman & Co LP acquired a new position in Pacira BioSciences during the second quarter worth about $560,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Pacira BioSciences in the second quarter valued at about $747,000. 99.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pacira BioSciences

In other Pacira BioSciences news, insider Jonathan Slonin sold 3,040 shares of the stock in a transaction 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 transaction, the insider owned 216,384 shares of the company’s stock, valued at $5,026,600.32. This represents a 1.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Lauren Riker sold 6,115 shares of the 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 in the company, valued at approximately $1,463,674. This represents a 8.94% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 6.40% of the company’s stock.

Pacira BioSciences Price Performance

Pacira BioSciences stock opened at $25.87 on Wednesday. The stock has a market capitalization of $1.03 billion, a P/E ratio of 73.92 and a beta of 0.26. Pacira BioSciences, Inc. has a 12-month low of $18.80 and a 12-month high of $27.66. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.04 and a quick ratio of 3.94. The firm’s 50-day moving average is $25.46 and its two-hundred day moving average is $24.06.

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

Analyst Upgrades and Downgrades

PCRX has been the topic of several research reports. Weiss Ratings upgraded shares of Pacira BioSciences from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, September 1st. HC Wainwright restated a “buy” rating and set a $38.00 price objective on shares of Pacira BioSciences in a research report on Wednesday, July 1st. Wall Street Zen lowered Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 16th. Royal Bank Of Canada increased their target price on Pacira BioSciences from $24.00 to $25.00 and gave the company a “sector perform” rating in a report on Wednesday, August 5th. Finally, Needham & Company LLC raised their price target on Pacira BioSciences from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Pacira BioSciences currently has an average rating of “Hold” and a consensus target price of $30.20.

Pacira BioSciences Profile

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.