Pacer Advisors Inc. Purchases 590,082 Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX)

Pacer Advisors Inc. grew its holdings in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) by 37.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,162,787 shares of the company's stock after purchasing an additional 590,082 shares during the period. Pacer Advisors Inc. owned approximately 4.65% of Pacira BioSciences worth $61,877,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. ICA Group Wealth Management LLC purchased a new position in Pacira BioSciences in the fourth quarter worth about $30,000. GAMMA Investing LLC lifted its position in Pacira BioSciences by 229.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,338 shares of the company's stock valued at $38,000 after acquiring an additional 932 shares in the last quarter. Park Place Capital Corp purchased a new stake in Pacira BioSciences during the 2nd quarter valued at $46,000. Innealta Capital LLC bought a new stake in shares of Pacira BioSciences in the 2nd quarter worth $50,000. Finally, nVerses Capital LLC raised its stake in shares of Pacira BioSciences by 800.0% in the second quarter. nVerses Capital LLC now owns 1,800 shares of the company's stock worth $51,000 after purchasing an additional 1,600 shares during the last quarter. 99.73% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several equities research analysts recently commented on PCRX shares. Truist Financial cut Pacira BioSciences from a "buy" rating to a "sell" rating and dropped their price objective for the company from $30.00 to $8.00 in a research report on Tuesday, August 13th. Royal Bank of Canada downgraded shares of Pacira BioSciences from an "outperform" rating to a "sector perform" rating and dropped their price target for the company from $37.00 to $14.00 in a report on Monday, August 12th. StockNews.com cut shares of Pacira BioSciences from a "strong-buy" rating to a "buy" rating in a report on Monday, August 12th. Piper Sandler downgraded shares of Pacira BioSciences from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $42.00 to $11.00 in a research report on Monday, August 12th. Finally, HC Wainwright cut their target price 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 equities research 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 MarketBeat, Pacira BioSciences currently has a consensus rating of "Hold" and a consensus target price of $24.78.

Pacira BioSciences Stock Performance

Shares of Pacira BioSciences stock traded down $0.16 on Friday, hitting $14.53. 4,300,717 shares of the company's stock were exchanged, compared to its average volume of 962,822. Pacira BioSciences, Inc. has a 1 year low of $11.16 and a 1 year high of $35.95. The company has a 50-day simple moving average of $16.48 and a 200-day simple moving average of $23.95. The company has a debt-to-equity ratio of 0.67, a quick ratio of 5.70 and a current ratio of 6.82. The stock has a market capitalization of $676.31 million, a PE ratio of 10.16 and a beta of 0.84.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share (EPS) 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 business had revenue of $178.02 million during the quarter, compared to analyst estimates of $173.31 million. As a group, equities analysts anticipate that Pacira BioSciences, Inc. will post 2.24 EPS for the current year.

About Pacira BioSciences

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.