Gagnon Securities LLC Grows Stock Holdings in Pacira BioSciences, Inc. $PCRX

Gagnon Securities LLC boosted its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 22.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 449,717 shares of the company’s stock after buying an additional 81,364 shares during the period. Pacira BioSciences makes up about 2.3% of Gagnon Securities LLC’s investment portfolio, making the stock its 17th largest holding. Gagnon Securities LLC owned 1.00% of Pacira BioSciences worth $11,589,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Pacira BioSciences by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,242 shares of the company’s stock valued at $677,000 after acquiring an additional 1,165 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Pacira BioSciences by 49.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company’s stock valued at $27,454,000 after purchasing an additional 367,869 shares during the last quarter. Strs Ohio bought a new stake in Pacira BioSciences during the 1st quarter valued at about $75,000. Wealth Enhancement Advisory Services LLC bought a new stake in Pacira BioSciences during the 2nd quarter valued at about $215,000. Finally, Farther Finance Advisors LLC raised its holdings in Pacira BioSciences by 1,503.1% in the second quarter. Farther Finance Advisors LLC now owns 8,160 shares of the company’s stock worth $195,000 after buying an additional 7,651 shares during the last quarter. 99.73% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, SVP Lauren Riker sold 1,416 shares of Pacira BioSciences stock in a transaction on Monday, January 5th. The shares were sold at an average price of $24.24, for a total transaction of $34,323.84. Following the transaction, the senior vice president owned 59,064 shares in the company, valued at $1,431,711.36. This trade represents a 2.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jonathan Slonin sold 3,960 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $24.09, for a total transaction of $95,396.40. Following the sale, the insider directly owned 178,367 shares of the company’s stock, valued at approximately $4,296,861.03. The trade was a 2.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 34,336 shares of company stock valued at $851,868. 6.40% of the stock is owned by insiders.

Pacira BioSciences Stock Performance

Shares of PCRX opened at $20.09 on Friday. The firm has a market capitalization of $864.27 million, a P/E ratio of 44.65 and a beta of 0.22. The company has a debt-to-equity ratio of 0.52, a current ratio of 5.26 and a quick ratio of 3.78. Pacira BioSciences, Inc. has a one year low of $18.80 and a one year high of $27.64. The business has a fifty day moving average of $23.81 and a 200 day moving average of $23.95.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PCRX shares. Barclays assumed coverage on shares of Pacira BioSciences in a research report on Tuesday, December 9th. They set an “equal weight” rating and a $27.00 price target for the company. Truist Financial decreased their price target on Pacira BioSciences from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 price target on shares of Pacira BioSciences in a report on Friday, January 9th. HC Wainwright reiterated a “buy” rating and issued a $38.00 price objective on shares of Pacira BioSciences in a report on Friday, January 9th. Finally, Wall Street Zen raised Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $30.75.

About Pacira BioSciences

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.