Wedge Capital Management L L P NC Purchases New Stake in Pacira BioSciences, Inc. $PCRX

Wedge Capital Management L L P NC bought a new position in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 94,554 shares of the company’s stock, valued at approximately $2,399,000. Wedge Capital Management L L P NC owned 0.24% of Pacira BioSciences at the end of the most recent quarter.

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

Pacira BioSciences Price Performance

PCRX opened at $23.18 on Friday. The business’s 50-day moving average is $24.80 and its two-hundred day moving average is $23.54. The firm has a market capitalization of $923.95 million, a PE ratio of 66.23 and a beta of 0.27. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.04 and a quick ratio of 3.94. Pacira BioSciences, Inc. has a 1 year low of $18.80 and a 1 year high of $27.66.

Pacira BioSciences (NASDAQ:PCRX) last posted its quarterly earnings data 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 the consensus estimate of $191.06 million. Pacira BioSciences had a net margin of 1.96% and a return on equity of 9.68%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 earnings per share. Research analysts anticipate that Pacira BioSciences, Inc. will post 1.98 earnings per share for the current fiscal year.

Insider Transactions at Pacira BioSciences

In other news, SVP Lauren Riker sold 6,115 shares of Pacira BioSciences stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $23.50, for a total transaction of $143,702.50. Following the completion of the transaction, the senior vice president directly owned 62,284 shares of the company’s stock, valued at $1,463,674. The trade was a 8.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PCRX shares. Royal Bank Of Canada boosted their target price on shares of Pacira BioSciences from $24.00 to $25.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 5th. HC Wainwright reaffirmed a “buy” rating and set a $38.00 price target on shares of Pacira BioSciences in a report on Wednesday, July 1st. Weiss Ratings upgraded Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. Wall Street Zen raised shares of Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Finally, Needham & Company LLC lifted their price objective on Pacira BioSciences from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Three equities research 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $29.80.

Pacira BioSciences Company 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.