Pacira BioSciences, Inc. (NASDAQ:PCRX) Shares Purchased by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV increased its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 39.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,686 shares of the company’s stock after purchasing an additional 3,562 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Pacira BioSciences were worth $363,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. ICA Group Wealth Management LLC purchased a new stake in Pacira BioSciences during the 4th quarter valued at about $30,000. GAMMA Investing LLC grew its stake in Pacira BioSciences by 229.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,338 shares of the company’s stock valued at $38,000 after acquiring an additional 932 shares in the last quarter. Park Place Capital Corp purchased a new stake in Pacira BioSciences during the 2nd quarter valued at about $46,000. Innealta Capital LLC purchased a new stake in Pacira BioSciences during the 2nd quarter valued at about $50,000. Finally, nVerses Capital LLC grew its stake in Pacira BioSciences by 800.0% during the 2nd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock valued at $51,000 after acquiring an additional 1,600 shares in the last quarter. Institutional investors and hedge funds own 99.73% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Barclays cut shares of Pacira BioSciences from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $38.00 to $25.00 in a research note on Wednesday, July 3rd. Jefferies Financial Group increased their price target on shares of Pacira BioSciences from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Truist Financial cut shares of Pacira BioSciences from a “buy” rating to a “sell” rating and dropped their price target for the company from $30.00 to $8.00 in a research note on Tuesday, August 13th. StockNews.com cut shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Finally, Piper Sandler cut shares of Pacira BioSciences from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $42.00 to $11.00 in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Pacira BioSciences currently has an average rating of “Hold” and a consensus target price of $24.10.

Pacira BioSciences Price Performance

Shares of PCRX opened at $14.54 on Monday. Pacira BioSciences, Inc. has a twelve month low of $11.16 and a twelve month high of $35.95. The firm’s fifty day simple moving average is $15.84 and its 200-day simple moving average is $23.41. The firm has a market capitalization of $670.73 million, a price-to-earnings ratio of 10.17 and a beta of 0.84. The company has a current ratio of 6.82, a quick ratio of 5.70 and a debt-to-equity ratio of 0.67.

Pacira BioSciences (NASDAQ:PCRX) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.11. Pacira BioSciences had a net margin of 9.21% and a return on equity of 13.22%. The business had revenue of $178.02 million for the quarter, compared to analyst estimates of $173.31 million. Equities analysts forecast that Pacira BioSciences, Inc. will post 2.24 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Frank D. Lee purchased 8,264 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $12.10 per share, for a total transaction of $99,994.40. Following the purchase, the chief executive officer now directly owns 107,784 shares of the company’s stock, valued at $1,304,186.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Pacira BioSciences news, insider Jonathan Slonin sold 2,836 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $28.25, for a total transaction of $80,117.00. Following the transaction, the insider now directly owns 95,557 shares of the company’s stock, valued at approximately $2,699,485.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frank D. Lee acquired 8,264 shares of the stock in a transaction on Monday, August 12th. The shares were acquired at an average cost of $12.10 per share, for a total transaction of $99,994.40. Following the completion of the transaction, the chief executive officer now directly owns 107,784 shares in the company, valued at approximately $1,304,186.40. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 11,176 shares of company stock worth $136,240 and have sold 4,281 shares worth $105,494. 6.40% of the stock is owned by company insiders.

Pacira BioSciences Company Profile

Pacira BioSciences, Inc engages in the development, manufacture, marketing, distribution, and sale of non-opioid pain management and regenerative health solutions to healthcare practitioners in the United States. The company offers EXPAREL, a bupivacaine liposome injectable suspension; ZILRETTA, a triamcinolone acetonide extended-release injectable suspension; and iovera system, a non-opioid handheld cryoanalgesia device used to produce controlled doses of cold temperature to targeted nerves.