Inspire Investing LLC Grows Position in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Inspire Investing LLC boosted its position in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 122.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,474 shares of the company’s stock after acquiring an additional 15,138 shares during the quarter. Inspire Investing LLC owned 0.06% of Pacira BioSciences worth $413,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in PCRX. Texas Permanent School Fund Corp lifted its position in shares of Pacira BioSciences by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 40,642 shares of the company’s stock worth $1,188,000 after purchasing an additional 543 shares during the last quarter. Duality Advisers LP lifted its holdings in Pacira BioSciences by 1.8% during the 1st quarter. Duality Advisers LP now owns 34,784 shares of the company’s stock worth $1,016,000 after buying an additional 605 shares during the last quarter. ProShare Advisors LLC boosted its position in shares of Pacira BioSciences by 8.0% during the 1st quarter. ProShare Advisors LLC now owns 12,461 shares of the company’s stock worth $364,000 after acquiring an additional 924 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Pacira BioSciences by 229.6% in 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 during the last quarter. Finally, Congress Asset Management Co. MA raised its position in shares of Pacira BioSciences by 1.2% during the 1st quarter. Congress Asset Management Co. MA now owns 88,962 shares of the company’s stock worth $2,599,000 after acquiring an additional 1,095 shares in the last quarter. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on PCRX. Truist Financial lowered 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. Royal Bank of Canada increased their target price on shares of Pacira BioSciences from $14.00 to $15.00 and gave the company a “sector perform” rating in a research report on Friday, October 4th. Raymond James cut shares of Pacira BioSciences from an “outperform” rating to a “market perform” rating in a research report on Monday, August 12th. Piper Sandler lowered Pacira BioSciences from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $42.00 to $11.00 in a report on Monday, August 12th. Finally, Needham & Company LLC decreased their target price on Pacira BioSciences from $43.00 to $22.00 and set a “buy” rating for the company in a research report 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $24.20.

Pacira BioSciences Price Performance

Pacira BioSciences stock opened at $16.63 on Thursday. The company has a debt-to-equity ratio of 0.67, a current ratio of 6.82 and a quick ratio of 5.70. The business has a 50 day simple moving average of $14.64 and a 200-day simple moving average of $22.20. Pacira BioSciences, Inc. has a 12 month low of $11.16 and a 12 month high of $35.95. The stock has a market capitalization of $774.06 million, a PE ratio of 11.63 and a beta of 0.84.

Pacira BioSciences (NASDAQ:PCRX) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, topping 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 company had revenue of $178.02 million during the quarter, compared to the consensus estimate of $173.31 million. Equities analysts predict that Pacira BioSciences, Inc. will post 2.24 earnings per share for the current year.

Insider Activity at Pacira BioSciences

In other Pacira BioSciences news, CEO Frank D. Lee bought 8,264 shares of the company’s stock in a transaction on Monday, August 12th. The shares were bought at an average price of $12.10 per share, for a total transaction of $99,994.40. Following the transaction, the chief executive officer now owns 107,784 shares of the company’s stock, valued at approximately $1,304,186.40. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders bought a total of 11,176 shares of company stock worth $136,240 over the last 90 days. Company insiders own 6.40% of the company’s stock.

Pacira BioSciences 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.