PDT Partners LLC Makes New Investment in Pacira BioSciences, Inc. $PCRX

PDT Partners LLC purchased a new position in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 132,368 shares of the company’s stock, valued at approximately $3,358,000. PDT Partners LLC owned about 0.33% of Pacira BioSciences as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Hillsdale Investment Management Inc. purchased a new stake in Pacira BioSciences during the 4th quarter valued at about $7,976,000. LSV Asset Management lifted its holdings in shares of 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 purchasing an additional 205,500 shares during the period. Gagnon Advisors LLC boosted its position in Pacira BioSciences by 22.3% in the fourth quarter. Gagnon Advisors LLC now owns 260,908 shares of the company’s stock valued at $6,752,000 after buying an additional 47,506 shares during the last quarter. Wedge Capital Management L L P NC purchased a new position in Pacira BioSciences during the 2nd quarter worth approximately $2,399,000. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in Pacira BioSciences by 31.0% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 203,520 shares of the company’s stock worth $5,163,000 after acquiring an additional 48,124 shares during the period. Institutional investors and hedge funds own 99.73% of the company’s stock.

Pacira BioSciences Trading Up 1.4%

NASDAQ PCRX opened at $25.90 on Thursday. Pacira BioSciences, Inc. has a one year low of $18.80 and a one year high of $27.66. The firm has a 50 day simple moving average of $25.05 and a 200-day simple moving average of $23.78. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 74.00 and a beta of 0.27. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.94 and a current ratio of 5.04.

Pacira BioSciences (NASDAQ:PCRX) last issued 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 net margin of 1.96% and a return on equity of 9.68%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.74 EPS. Equities research analysts anticipate that Pacira BioSciences, Inc. will post 1.98 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Lauren Riker sold 6,115 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was 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 SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Slonin sold 3,040 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $23.23, for a total value of $70,619.20. Following the sale, the insider owned 216,384 shares in the company, valued at approximately $5,026,600.32. This trade represents a 1.39% decrease in their position. 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. Company insiders own 6.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PCRX. Weiss Ratings restated a “sell (d+)” rating on shares of Pacira BioSciences in a research report on Monday, August 17th. Needham & Company LLC raised their target price on shares of Pacira BioSciences from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Royal Bank Of Canada boosted their price target on shares of Pacira BioSciences from $24.00 to $25.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 5th. Truist Financial began coverage on shares of Pacira BioSciences in a research note on Monday, August 17th. They issued a “buy” rating and a $30.00 price target for the company. Finally, HC Wainwright restated a “buy” rating and set a $38.00 price target on shares of Pacira BioSciences in a report on Wednesday, July 1st. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $30.20.

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.