Truist Financial Corp Invests $423,000 in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Truist Financial Corp purchased a new stake in Pacira BioSciences, Inc. (NASDAQ:PCRX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 14,798 shares of the company’s stock, valued at approximately $423,000.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its position in Pacira BioSciences by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 5,113,384 shares of the company’s stock valued at $149,413,000 after purchasing an additional 14,960 shares during the period. Pacer Advisors Inc. grew its position in Pacira BioSciences by 37.5% in the 2nd quarter. Pacer Advisors Inc. now owns 2,162,787 shares of the company’s stock valued at $61,877,000 after purchasing an additional 590,082 shares during the period. Renaissance Technologies LLC grew its position in Pacira BioSciences by 9.8% in the 2nd quarter. Renaissance Technologies LLC now owns 2,066,197 shares of the company’s stock valued at $59,114,000 after purchasing an additional 184,000 shares during the period. Dimensional Fund Advisors LP grew its position in Pacira BioSciences by 12.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,828,065 shares of the company’s stock valued at $52,300,000 after purchasing an additional 198,936 shares during the period. Finally, Clearbridge Investments LLC grew its position in Pacira BioSciences by 2.3% in the 1st quarter. Clearbridge Investments LLC now owns 1,172,150 shares of the company’s stock valued at $34,250,000 after purchasing an additional 26,463 shares during the period. Institutional investors and hedge funds own 99.73% of the company’s stock.

Pacira BioSciences Trading Up 1.9 %

NASDAQ PCRX opened at $16.95 on Friday. Pacira BioSciences, Inc. has a one year low of $11.16 and a one year high of $35.95. The business’s fifty day moving average is $14.53 and its 200-day moving average is $22.16. The stock has a market capitalization of $788.95 million, a price-to-earnings ratio of 11.85 and a beta of 0.84. The company has a debt-to-equity ratio of 0.67, a current ratio of 6.82 and a quick ratio of 5.70.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. restated an “underweight” rating and set a $10.00 price objective (down from $45.00) on shares of Pacira BioSciences in a research note on Monday, August 12th. HC Wainwright dropped their price objective on Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Barclays cut 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. Piper Sandler cut Pacira BioSciences from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $42.00 to $11.00 in a research note on Monday, August 12th. Finally, Raymond James cut Pacira BioSciences from an “outperform” rating to a “market perform” rating in a research note on Monday, August 12th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Pacira BioSciences currently has a consensus rating of “Hold” and a consensus target price of $24.20.

Insider Activity at Pacira BioSciences

In other news, CEO Frank D. Lee acquired 8,264 shares of the stock in a transaction that occurred 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 purchase, the chief executive officer now owns 107,784 shares of the company’s stock, valued at approximately $1,304,186.40. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have bought 11,176 shares of company stock worth $136,240. Company insiders own 6.40% of the company’s stock.

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.