Cubist Systematic Strategies LLC Increases Stake in Pacira Biosciences Inc (NASDAQ:PCRX)

Cubist Systematic Strategies LLC grew its position in shares of Pacira Biosciences Inc (NASDAQ:PCRX) by 51.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,866 shares of the company’s stock after buying an additional 17,926 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Pacira Biosciences were worth $2,774,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in PCRX. Amundi Pioneer Asset Management Inc. purchased a new position in Pacira Biosciences during the 1st quarter worth $65,000. Rhumbline Advisers grew its stake in shares of Pacira Biosciences by 0.6% during the 1st quarter. Rhumbline Advisers now owns 141,059 shares of the company’s stock worth $4,730,000 after purchasing an additional 859 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Pacira Biosciences by 392.4% during the 1st quarter. Russell Investments Group Ltd. now owns 67,937 shares of the company’s stock worth $2,275,000 after purchasing an additional 54,140 shares during the period. First Trust Advisors LP grew its stake in shares of Pacira Biosciences by 13.7% during the 1st quarter. First Trust Advisors LP now owns 33,410 shares of the company’s stock worth $1,120,000 after purchasing an additional 4,013 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Pacira Biosciences by 102.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,790 shares of the company’s stock worth $161,000 after purchasing an additional 2,428 shares during the period.

In related news, Director Andreas Wicki sold 2,216 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $62.02, for a total value of $137,436.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David M. Stack sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 15th. The shares were sold at an average price of $56.88, for a total transaction of $682,560.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 232,673 shares of company stock worth $13,457,492. Insiders own 6.20% of the company’s stock.

Shares of PCRX stock opened at $59.21 on Wednesday. The firm has a market cap of $2.53 billion, a P/E ratio of -236.84, a PEG ratio of 1.60 and a beta of 1.31. Pacira Biosciences Inc has a 1-year low of $27.46 and a 1-year high of $64.44. The company has a debt-to-equity ratio of 0.81, a current ratio of 6.46 and a quick ratio of 5.51. The firm’s 50-day simple moving average is $59.04 and its 200-day simple moving average is $46.68.

Pacira Biosciences (NASDAQ:PCRX) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.03. The business had revenue of $75.50 million for the quarter, compared to analyst estimates of $75.57 million. Pacira Biosciences had a negative net margin of 2.47% and a positive return on equity of 10.27%. The company’s revenue was down 26.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 EPS. Analysts expect that Pacira Biosciences Inc will post 1.16 earnings per share for the current fiscal year.

A number of equities analysts have recently weighed in on PCRX shares. Needham & Company LLC upped their price target on shares of Pacira Biosciences from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, September 9th. Northland Securities increased their price objective on shares of Pacira Biosciences from $50.00 to $54.00 and gave the company a “market perform” rating in a research note on Tuesday, June 30th. Wedbush reissued a “buy” rating and issued a $85.00 price objective on shares of Pacira Biosciences in a research note on Monday, August 17th. Piper Sandler increased their price objective on shares of Pacira Biosciences from $49.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Finally, BidaskClub cut shares of Pacira Biosciences from a “buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Pacira Biosciences presently has a consensus rating of “Buy” and an average price target of $61.33.

Pacira Biosciences Profile

Pacira BioSciences, Inc provides non-opioid pain management and regenerative health solutions for health care practitioners and their patients in the United States. The company develops products based on its proprietary DepoFoam product delivery technology that encapsulates drugs without altering their molecular structure.

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Institutional Ownership by Quarter for Pacira Biosciences (NASDAQ:PCRX)

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