Profund Advisors LLC Acquires 42,319 Shares of Pacira BioSciences, Inc. $PCRX

Profund Advisors LLC boosted its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 324.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 55,354 shares of the company’s stock after purchasing an additional 42,319 shares during the period. Profund Advisors LLC’s holdings in Pacira BioSciences were worth $1,387,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wedge Capital Management L L P NC purchased a new stake in shares of Pacira BioSciences in the second quarter valued at approximately $2,399,000. Rice Hall James & Associates LLC purchased a new stake in Pacira BioSciences in the second quarter worth about $2,369,000. Bank of New York Mellon Corp purchased a new stake in Pacira BioSciences in the second quarter worth about $7,532,000. Bank of America Corp DE purchased a new stake in Pacira BioSciences in the second quarter worth about $6,089,000. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in Pacira BioSciences by 31.0% in 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 own 99.73% of the company’s stock.

Pacira BioSciences Stock Up 0.0%

NASDAQ PCRX opened at $36.40 on Tuesday. The firm has a market cap of $1.45 billion, a PE ratio of 23.33 and a beta of 0.25. The company has a quick ratio of 3.94, a current ratio of 5.04 and a debt-to-equity ratio of 0.54. The business’s fifty day simple moving average is $29.30 and its 200-day simple moving average is $24.89. Pacira BioSciences, Inc. has a 52 week low of $18.80 and a 52 week high of $36.67.

Pacira BioSciences (NASDAQ:PCRX) last posted its earnings results on Tuesday, August 4th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. Pacira BioSciences had a return on equity of 9.68% and a net margin of 1.96%. The company had revenue of $192.40 million for the quarter, compared to the consensus estimate of $191.06 million. During the same quarter in the previous year, the business earned $0.74 earnings per share. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities analysts anticipate that Pacira BioSciences, Inc. will post 1.86 earnings per share for the current year.

Insider Buying and Selling at Pacira BioSciences

In other news, insider Jonathan Slonin sold 3,040 shares of the company’s 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 sale, the insider owned 216,384 shares of the company’s stock, valued at approximately $5,026,600.32. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Lauren Riker sold 6,000 shares of the business’s stock in a transaction dated Thursday, October 8th. The stock was sold at an average price of $36.32, for a total value of $217,920.00. Following the transaction, the senior vice president directly owned 62,284 shares of the company’s stock, valued at approximately $2,262,154.88. This represents a 8.79% 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. Insiders own 6.40% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PCRX shares. Needham & Company LLC downgraded shares of Pacira BioSciences from a “buy” rating to a “hold” rating in a research note on Thursday, October 8th. Zacks Research cut Pacira BioSciences from a “hold” rating to a “strong sell” rating in a research note on Monday, October 5th. Jefferies Financial Group cut shares of Pacira BioSciences from a “buy” rating to a “hold” rating and set a $36.00 target price for the company. in a research report on Thursday, October 8th. Royal Bank Of Canada lifted their price objective on shares of Pacira BioSciences from $25.00 to $36.50 and gave the stock a “sector perform” rating in a research note on Friday, October 9th. Finally, JPMorgan Chase & Co. raised shares of Pacira BioSciences from an “underweight” rating to a “neutral” rating and set a $36.50 target price for the company in a report on Thursday, October 8th. One analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $33.33.

Pacira BioSciences Profile

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid pain-management and regenerative health solutions. The company’s products are designed to address acute postsurgical pain and osteoarthritis-related pain while supporting efforts to reduce reliance on opioid medications.

Pacira’s lead product is EXPAREL, an extended-release formulation of bupivacaine administered by injection for postsurgical pain management. The company also markets ZILRETTA, an extended-release corticosteroid injection indicated for osteoarthritis knee pain, and iovera°, a cryoanalgesia system that uses controlled cooling to temporarily block peripheral nerves and relieve pain.

Formerly known as Pacira Pharmaceuticals, the company adopted the Pacira BioSciences name to reflect its broader focus on innovative pain and regenerative-health therapies.