Hillsdale Investment Management Inc. Buys 23,100 Shares of Pacira BioSciences, Inc. $PCRX

Hillsdale Investment Management Inc. increased its position in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 7.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 331,300 shares of the company’s stock after buying an additional 23,100 shares during the period. Hillsdale Investment Management Inc. owned 0.84% of Pacira BioSciences worth $7,487,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Balyasny Asset Management L.P. lifted its position in Pacira BioSciences by 36.1% during the second quarter. Balyasny Asset Management L.P. now owns 2,130,733 shares of the company’s stock worth $50,925,000 after acquiring an additional 565,288 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings 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 buying an additional 367,869 shares in the last quarter. LSV Asset Management raised its stake in Pacira BioSciences by 179.8% during the fourth quarter. LSV Asset Management now owns 319,800 shares of the company’s stock worth $8,276,000 after acquiring an additional 205,500 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Pacira BioSciences by 87.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 435,143 shares of the company’s stock worth $11,262,000 after purchasing an additional 202,773 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Pacira BioSciences in the 2nd quarter valued at $4,550,000. Institutional investors own 99.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PCRX shares. Weiss Ratings upgraded shares of Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. Needham & Company LLC lifted their target price on Pacira BioSciences from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Zacks Research upgraded shares of Pacira BioSciences from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Royal Bank Of Canada increased their target price on Pacira BioSciences from $22.00 to $24.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Finally, Barclays cut their price target on Pacira BioSciences from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Thursday, March 26th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Pacira BioSciences presently has an average rating of “Hold” and an average price target of $29.40.

Pacira BioSciences Stock Performance

Shares of PCRX opened at $25.54 on Tuesday. The company has a current ratio of 4.73, a quick ratio of 3.35 and a debt-to-equity ratio of 0.56. Pacira BioSciences, Inc. has a 12-month low of $18.80 and a 12-month high of $27.64. The company has a market cap of $1.00 billion, a PE ratio of 212.85 and a beta of 0.27. The stock has a 50-day moving average price of $23.69 and a 200-day moving average price of $23.19.

Pacira BioSciences (NASDAQ:PCRX) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). Pacira BioSciences had a return on equity of 10.24% and a net margin of 0.70%.The firm had revenue of $177.38 million during the quarter, compared to analysts’ expectations of $171.80 million. During the same quarter in the previous year, the company posted $0.65 earnings per share. Pacira BioSciences’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, equities analysts forecast that Pacira BioSciences, Inc. will post 1.94 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Shawn Cross sold 12,941 shares of the company’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $25.16, for a total transaction of $325,595.56. Following the completion of the sale, the chief financial officer directly owned 105,341 shares in the company, valued at $2,650,379.56. This represents a 10.94% decrease in their position. The transaction was disclosed in a filing 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 company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $23.50, for a total transaction of $143,702.50. Following the transaction, the senior vice president directly owned 62,284 shares of the company’s stock, valued at approximately $1,463,674. This trade represents a 8.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 31,115 shares of company stock worth $771,896. Company 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, 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.