Renaissance Technologies LLC Acquires 184,000 Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX)

Renaissance Technologies LLC boosted its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 9.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,066,197 shares of the company’s stock after buying an additional 184,000 shares during the quarter. Renaissance Technologies LLC owned approximately 4.44% of Pacira BioSciences worth $59,114,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PCRX. Vanguard Group Inc. grew its position in shares of Pacira BioSciences by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,113,384 shares of the company’s stock valued at $149,413,000 after acquiring an additional 14,960 shares during the period. Frontier Capital Management Co. LLC grew its holdings in Pacira BioSciences by 15.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,084,542 shares of the company’s stock valued at $70,332,000 after purchasing an additional 285,045 shares during the period. Dimensional Fund Advisors LP increased its position in Pacira BioSciences by 12.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,828,065 shares of the company’s stock worth $52,300,000 after buying an additional 198,936 shares during the last quarter. Vestal Point Capital LP bought a new stake in shares of Pacira BioSciences in the fourth quarter valued at $40,488,000. Finally, Clearbridge Investments LLC raised its stake in shares of Pacira BioSciences by 2.3% in the first quarter. Clearbridge Investments LLC now owns 1,172,150 shares of the company’s stock valued at $34,250,000 after buying an additional 26,463 shares during the period. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Insider Buying and Selling

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

Pacira BioSciences Stock Up 6.3 %

Shares of NASDAQ PCRX opened at $14.35 on Wednesday. The firm’s fifty day moving average is $16.88 and its 200 day moving average is $24.26. Pacira BioSciences, Inc. has a 52 week low of $11.16 and a 52 week high of $35.95. The company has a quick ratio of 5.70, a current ratio of 6.82 and a debt-to-equity ratio of 0.67. The company has a market cap of $667.70 million, a price-to-earnings ratio of 10.03 and a beta of 0.84.

Pacira BioSciences (NASDAQ:PCRX) last released 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. The firm had revenue of $178.02 million for the quarter, compared to analysts’ expectations of $173.31 million. Pacira BioSciences had a net margin of 9.21% and a return on equity of 13.22%. On average, equities research analysts expect that Pacira BioSciences, Inc. will post 2.24 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PCRX shares. Needham & Company LLC decreased their price objective on Pacira BioSciences from $43.00 to $22.00 and set a “buy” rating for the company in a report on Monday, August 12th. Raymond James downgraded shares of Pacira BioSciences from an “outperform” rating to a “market perform” rating in a research note on Monday, August 12th. Truist Financial cut shares of Pacira BioSciences from a “buy” rating to a “sell” rating and lowered their target price for the company from $30.00 to $8.00 in a report on Tuesday, August 13th. Piper Sandler downgraded shares of Pacira BioSciences from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $42.00 to $11.00 in a report on Monday, August 12th. Finally, HC Wainwright cut their price objective on shares of Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $24.78.

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.