Millennium Management LLC lowered its stake in Pacira Biosciences Inc (NASDAQ:PCRX) by 56.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 639,139 shares of the company’s stock after selling 844,598 shares during the period. Millennium Management LLC owned 1.53% of Pacira Biosciences worth $24,332,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of PCRX. Usca Ria LLC acquired a new position in shares of Pacira Biosciences during the third quarter worth $38,000. HM Payson & Co. acquired a new stake in shares of Pacira Biosciences during the 2nd quarter valued at $39,000. C M Bidwell & Associates Ltd. bought a new stake in Pacira Biosciences during the 2nd quarter worth $44,000. LS Investment Advisors LLC bought a new stake in Pacira Biosciences during the 3rd quarter worth $50,000. Finally, Tower Research Capital LLC TRC increased its holdings in Pacira Biosciences by 414.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,436 shares of the company’s stock worth $63,000 after purchasing an additional 1,157 shares in the last quarter. 99.13% of the stock is currently owned by hedge funds and other institutional investors.
In other Pacira Biosciences news, VP Lauren Bullaro Riker sold 5,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $43.59, for a total transaction of $217,950.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David M. Stack sold 70,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $44.47, for a total value of $3,112,900.00. Insiders sold a total of 76,176 shares of company stock worth $3,382,759 in the last 90 days. Corporate insiders own 5.80% of the company’s stock.
PCRX has been the topic of a number of recent research reports. BTIG Research began coverage on Pacira Biosciences in a research note on Wednesday, November 6th. They set a “buy” rating and a $56.00 price target on the stock. Cowen restated a “hold” rating and set a $41.00 price target on shares of Pacira Biosciences in a report on Thursday, November 7th. BMO Capital Markets lowered their price objective on Pacira Biosciences from $46.00 to $43.00 and set a “market perform” rating for the company in a research note on Friday, August 9th. Jefferies Financial Group set a $60.00 price objective on shares of Pacira Biosciences and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, BidaskClub upgraded shares of Pacira Biosciences from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $52.55.
Shares of PCRX opened at $46.17 on Tuesday. Pacira Biosciences Inc has a 1 year low of $34.64 and a 1 year high of $50.30. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.95 and a quick ratio of 3.32. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 159.21, a price-to-earnings-growth ratio of 2.07 and a beta of 1.17. The business has a 50-day moving average of $42.02 and a 200-day moving average of $41.18.
Pacira Biosciences (NASDAQ:PCRX) last announced its earnings results on Thursday, November 7th. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.35. The business had revenue of $104.69 million for the quarter, compared to analysts’ expectations of $104.88 million. Pacira Biosciences had a return on equity of 10.19% and a net margin of 0.55%. The firm’s revenue was up 25.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.31 earnings per share. As a group, sell-side analysts anticipate that Pacira Biosciences Inc will post 0.71 EPS for the current year.
Pacira Biosciences Company Profile
Pacira BioSciences, Inc provides non-opioid pain management and regenerative health solutions for health care practitioners and their patients in the United States. The company develops products based on its proprietary DepoFoam product delivery technology that encapsulates drugs without altering their molecular structure.
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