Hussman Strategic Advisors Inc. Acquires Shares of 105,000 Pacira BioSciences, Inc. $PCRX

Hussman Strategic Advisors Inc. acquired a new position in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 105,000 shares of the company’s stock, valued at approximately $2,706,000.

A number of other institutional investors also recently modified their holdings of PCRX. Strs Ohio bought a new position in Pacira BioSciences during the first quarter worth about $75,000. PNC Financial Services Group Inc. grew its position in shares of Pacira BioSciences by 17.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,511 shares of the company’s stock worth $84,000 after purchasing an additional 531 shares in the last quarter. State of Wyoming acquired a new position in shares of Pacira BioSciences during the 2nd quarter worth approximately $102,000. Tower Research Capital LLC TRC increased its holdings in shares of Pacira BioSciences by 227.7% during the second quarter. Tower Research Capital LLC TRC now owns 4,624 shares of the company’s stock worth $111,000 after purchasing an additional 3,213 shares during the period. Finally, Farther Finance Advisors LLC raised its position in shares of Pacira BioSciences by 1,503.1% in the second quarter. Farther Finance Advisors LLC now owns 8,160 shares of the company’s stock valued at $195,000 after buying an additional 7,651 shares in the last quarter. Institutional investors own 99.73% of the company’s stock.

Insider Buying and Selling

In related news, SVP Lauren Riker sold 1,416 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $24.24, for a total value of $34,323.84. Following the completion of the transaction, the senior vice president owned 59,064 shares of the company’s stock, valued at $1,431,711.36. This represents a 2.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Shawn Cross sold 15,896 shares of the business’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $25.03, for a total transaction of $397,876.88. Following the sale, the chief financial officer directly owned 56,250 shares in the company, valued at approximately $1,407,937.50. The trade was a 22.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 34,336 shares of company stock worth $851,868 in the last three months. 6.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PCRX has been the topic of a number of analyst reports. Barclays began coverage on Pacira BioSciences in a research report on Tuesday, December 9th. They set an “equal weight” rating and a $27.00 price target on the stock. Truist Financial reduced their target price on Pacira BioSciences from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Wall Street Zen upgraded Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. HC Wainwright reaffirmed a “buy” rating and set a $38.00 price objective on shares of Pacira BioSciences in a research report on Friday, January 9th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Pacira BioSciences in a research note on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $30.75.

Pacira BioSciences Price Performance

Shares of PCRX stock opened at $19.85 on Wednesday. The business has a fifty day simple moving average of $23.95 and a 200 day simple moving average of $24.00. The company has a market cap of $853.95 million, a P/E ratio of 44.11 and a beta of 0.22. The company has a quick ratio of 3.78, a current ratio of 5.26 and a debt-to-equity ratio of 0.52. Pacira BioSciences, Inc. has a twelve month low of $18.80 and a twelve month high of $27.64.

Pacira BioSciences (NASDAQ:PCRX) last released its earnings results on Thursday, November 6th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. The firm had revenue of $179.52 million for the quarter, compared to analysts’ expectations of $182.86 million. Pacira BioSciences had a return on equity of 12.82% and a net margin of 2.99%.The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.79 earnings per share. On average, sell-side analysts forecast that Pacira BioSciences, Inc. will post 2.41 EPS for the current fiscal year.

Pacira BioSciences Company Profile

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid, non-addictive pain management and regenerative health solutions. The company’s flagship product, EXPAREL, is a bupivacaine liposome injectable suspension designed to provide long-lasting postsurgical analgesia. EXPAREL is used by clinicians across a broad range of surgical procedures to reduce reliance on opioid medications and to help manage acute postoperative pain.

In addition to its marketed offering, Pacira maintains an active pipeline of investigational products aimed at addressing unmet needs in pain management and inflammation control.