Pacira BioSciences, Inc. (NASDAQ:PCRX) Stock Position Lifted by Renaissance Technologies LLC

Renaissance Technologies LLC increased its position in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 9.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,066,197 shares of the company's stock after acquiring an additional 184,000 shares during the period. Renaissance Technologies LLC owned approximately 4.44% of Pacira BioSciences worth $59,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ICA Group Wealth Management LLC purchased a new position in shares of Pacira BioSciences during the fourth quarter worth $30,000. GAMMA Investing LLC grew its holdings in Pacira BioSciences by 229.6% during the second quarter. GAMMA Investing LLC now owns 1,338 shares of the company's stock worth $38,000 after acquiring an additional 932 shares during the period. Park Place Capital Corp purchased a new position in Pacira BioSciences during the second quarter valued at approximately $46,000. Innealta Capital LLC acquired a new position in Pacira BioSciences in the second quarter valued at approximately $50,000. Finally, nVerses Capital LLC boosted its position in Pacira BioSciences by 800.0% in the 2nd quarter. nVerses Capital LLC now owns 1,800 shares of the company's stock worth $51,000 after purchasing an additional 1,600 shares in the last quarter. Institutional investors and hedge funds own 99.73% of the company's stock.

Analyst Ratings Changes

PCRX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reissued an "underweight" rating and set a $10.00 price target (down from $45.00) on shares of Pacira BioSciences in a report on Monday, August 12th. Royal Bank of Canada cut Pacira BioSciences from an "outperform" rating to a "sector perform" rating and reduced their price target for the stock from $37.00 to $14.00 in a report on Monday, August 12th. Needham & Company LLC reduced their target price on Pacira BioSciences from $43.00 to $22.00 and set a "buy" rating for the company in a research note on Monday, August 12th. Raymond James cut shares of Pacira BioSciences from an "outperform" rating to a "market perform" rating in a research note on Monday, August 12th. Finally, HC Wainwright reduced their price objective on shares of Pacira BioSciences from $57.00 to $39.00 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 four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $24.78.

Insiders Place Their Bets

In other news, CEO Frank D. Lee bought 8,264 shares of Pacira BioSciences stock in a transaction dated Monday, August 12th. The stock was 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 of the company's stock, valued at $1,304,186.40. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Frank D. Lee bought 8,264 shares of Pacira BioSciences stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $12.10 per share, for a total transaction of $99,994.40. Following the acquisition, the chief executive officer now owns 107,784 shares in the company, valued at $1,304,186.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan Slonin sold 2,836 shares of the firm's stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $28.25, for a total value of $80,117.00. Following the sale, the insider now owns 95,557 shares in the company, valued at approximately $2,699,485.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 11,176 shares of company stock valued at $136,240 and have sold 4,281 shares valued at $105,494. Corporate insiders own 6.40% of the company's stock.

Pacira BioSciences Trading Up 2.1 %

Shares of Pacira BioSciences stock traded up $0.30 during mid-day trading on Wednesday, hitting $14.65. The stock had a trading volume of 952,980 shares, compared to its average volume of 885,814. Pacira BioSciences, Inc. has a 12-month low of $11.16 and a 12-month high of $35.95. The firm has a market cap of $681.90 million, a P/E ratio of 10.24 and a beta of 0.84. The firm has a 50-day moving average of $16.77 and a two-hundred day moving average of $24.20. The company has a quick ratio of 5.70, a current ratio of 6.82 and a debt-to-equity ratio of 0.67.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last released its earnings results 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. Pacira BioSciences had a return on equity of 13.22% and a net margin of 9.21%. The company had revenue of $178.02 million during the quarter, compared to the consensus estimate of $173.31 million. Sell-side 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.