Deerfield Management Company L.P. Series C Takes Position in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Deerfield Management Company L.P. Series C bought a new position in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 17,062 shares of the company’s stock, valued at approximately $488,000.

Several other institutional investors have also recently added to or reduced their stakes in PCRX. Norges Bank acquired a new stake in shares of Pacira BioSciences during the fourth quarter worth approximately $9,542,000. PNC Financial Services Group Inc. grew its position in Pacira BioSciences by 33.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,485 shares of the company’s stock worth $320,000 after acquiring an additional 2,387 shares during the last quarter. Campbell & CO Investment Adviser LLC increased its holdings in Pacira BioSciences by 217.9% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 25,431 shares of the company’s stock valued at $858,000 after purchasing an additional 17,432 shares in the last quarter. First National Bank of Omaha boosted its stake in Pacira BioSciences by 11.1% in the fourth quarter. First National Bank of Omaha now owns 26,014 shares of the company’s stock worth $878,000 after purchasing an additional 2,604 shares in the last quarter. Finally, Vestal Point Capital LP acquired a new position in Pacira BioSciences in the fourth quarter worth $40,488,000. 99.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on PCRX. Piper Sandler cut Pacira BioSciences from an “overweight” rating to a “neutral” rating and cut their price target for the company from $42.00 to $11.00 in a report on Monday, August 12th. StockNews.com cut shares of Pacira BioSciences from a “strong-buy” rating to a “buy” 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 dropped their price objective for the stock from $30.00 to $8.00 in a research report on Tuesday, August 13th. Royal Bank of Canada lowered Pacira BioSciences from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $37.00 to $14.00 in a research report on Monday, August 12th. Finally, Barclays cut Pacira BioSciences from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $38.00 to $25.00 in a research note on Wednesday, July 3rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Pacira BioSciences has a consensus rating of “Hold” and an average target price of $24.10.

Insider Buying and Selling

In related news, insider Jonathan Slonin sold 2,836 shares of the company’s stock in a transaction 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 completion of 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 document filed with the SEC, which is available through the SEC website. In other news, CEO Frank D. Lee bought 8,264 shares of the business’s stock in a transaction on Monday, August 12th. The shares were purchased at an average price 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 purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jonathan Slonin sold 2,836 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was 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 $2,699,485.25. The disclosure for this sale can be found here. Over 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 currently owned by company insiders.

Pacira BioSciences Stock Performance

PCRX stock opened at $14.54 on Friday. Pacira BioSciences, Inc. has a 1-year low of $11.16 and a 1-year high of $35.95. The business’s 50-day moving average price is $15.94 and its two-hundred day moving average price is $23.58. The firm has a market cap of $676.78 million, a PE 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 posted its earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.11. The business had revenue of $178.02 million during the quarter, compared to analysts’ expectations of $173.31 million. Pacira BioSciences had a return on equity of 13.22% and a net margin of 9.21%. As a group, research analysts forecast that Pacira BioSciences, Inc. will post 2.24 earnings per share for the current year.

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.