Brown Financial Advisors Makes New Investment in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Brown Financial Advisors purchased a new position in Pacira BioSciences, Inc. (NASDAQ:PCRX) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,323 shares of the company’s stock, valued at approximately $295,000.

Other large investors also recently modified their holdings of the company. Vestal Point Capital LP bought a new position in shares of Pacira BioSciences during the fourth quarter worth about $40,488,000. Pacer Advisors Inc. grew its holdings in shares of Pacira BioSciences by 37.5% during the second quarter. Pacer Advisors Inc. now owns 2,162,787 shares of the company’s stock worth $61,877,000 after buying an additional 590,082 shares in the last quarter. Archon Capital Management LLC bought a new position in shares of Pacira BioSciences during the first quarter worth about $15,677,000. Fort Washington Investment Advisors Inc. OH bought a new position in Pacira BioSciences in the second quarter valued at approximately $13,240,000. Finally, Doma Perpetual Capital Management LLC grew its stake in Pacira BioSciences by 71.8% in the second quarter. Doma Perpetual Capital Management LLC now owns 1,000,761 shares of the company’s stock valued at $28,632,000 after purchasing an additional 418,321 shares in the last quarter. 99.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Pacira BioSciences

In other Pacira BioSciences news, CEO Frank D. Lee purchased 8,264 shares of the firm’s stock in a transaction dated 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 purchase, the chief executive officer now owns 107,784 shares in the company, valued at approximately $1,304,186.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders purchased 11,176 shares of company stock valued at $136,240 in the last three months. Corporate insiders own 6.40% of the company’s stock.

Pacira BioSciences Price Performance

Shares of NASDAQ PCRX opened at $15.53 on Thursday. The stock has a market capitalization of $716.40 million, a PE ratio of 10.86 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. The business has a fifty day moving average price of $15.55 and a two-hundred day moving average price of $23.11. Pacira BioSciences, Inc. has a fifty-two week low of $11.16 and a fifty-two week high of $35.95.

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 the consensus estimate of $0.53 by $0.11. The firm 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, equities analysts predict that Pacira BioSciences, Inc. will post 2.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Piper Sandler downgraded Pacira BioSciences from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $42.00 to $11.00 in a research note on Monday, August 12th. HC Wainwright decreased their price target on Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Barclays downgraded Pacira BioSciences from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $38.00 to $25.00 in a research note on Wednesday, July 3rd. StockNews.com cut Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Finally, Needham & Company LLC cut their price objective 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 investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Pacira BioSciences currently has a consensus rating of “Hold” and an average price target of $24.10.

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.