Outfitter Financial LLC Grows Stock Position in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Outfitter Financial LLC boosted its position in Pacira BioSciences, Inc. (NASDAQ:PCRX) by 5.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,190 shares of the company’s stock after buying an additional 1,095 shares during the quarter. Outfitter Financial LLC’s holdings in Pacira BioSciences were worth $578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Jane Street Group LLC increased its position in Pacira BioSciences by 1,780.2% in the first quarter. Jane Street Group LLC now owns 187,531 shares of the company’s stock worth $5,480,000 after buying an additional 177,557 shares during the last quarter. Cobalt Capital Management Inc. purchased a new position in shares of Pacira BioSciences in the fourth quarter valued at $3,037,000. Legato Capital Management LLC grew its position in shares of Pacira BioSciences by 74.0% in the second quarter. Legato Capital Management LLC now owns 52,913 shares of the company’s stock valued at $1,514,000 after purchasing an additional 22,497 shares in the last quarter. National Bank of Canada FI purchased a new position in shares of Pacira BioSciences in the fourth quarter valued at $966,000. Finally, Bridge City Capital LLC purchased a new position in shares of Pacira BioSciences in the first quarter valued at $1,810,000. 99.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Pacira BioSciences

In other news, SVP Lauren Riker sold 3,970 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $28.72, for a total transaction of $114,018.40. Following the transaction, the senior vice president now directly owns 38,075 shares of the company’s stock, valued at approximately $1,093,514. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Jonathan Slonin sold 5,012 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $28.57, for a total value of $143,192.84. Following the completion of the sale, the insider now directly owns 44,569 shares in the company, valued at approximately $1,273,336.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Lauren Riker sold 3,970 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $28.72, for a total value of $114,018.40. Following the completion of the sale, the senior vice president now owns 38,075 shares of the company’s stock, valued at $1,093,514. The disclosure for this sale can be found here. In the last three months, insiders have acquired 11,176 shares of company stock valued at $136,240 and have sold 22,095 shares valued at $621,118. 6.40% of the stock is currently owned by insiders.

Pacira BioSciences Stock Up 1.3 %

Shares of PCRX traded up $0.20 during mid-day trading on Friday, reaching $15.56. The company had a trading volume of 702,297 shares, compared to its average volume of 872,313. 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 firm has a 50-day moving average price of $19.50 and a 200 day moving average price of $25.64. Pacira BioSciences, Inc. has a 52 week low of $11.16 and a 52 week high of $36.55. The company has a market capitalization of $724.26 million, a price-to-earnings ratio of 10.88 and a beta of 0.88.

Pacira BioSciences (NASDAQ:PCRX) last released its quarterly earnings data 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. The business had revenue of $178.02 million for the quarter, compared to analysts’ expectations of $173.31 million. Pacira BioSciences had a return on equity of 13.22% and a net margin of 9.21%. On average, sell-side analysts forecast that Pacira BioSciences, Inc. will post 2.26 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on PCRX. Royal Bank of Canada downgraded Pacira BioSciences from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $37.00 to $14.00 in a report on Monday, August 12th. HC Wainwright decreased their price objective on Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating on the stock in a report on Monday, August 12th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $10.00 price objective (down previously from $45.00) on shares of Pacira BioSciences in a report on Monday, August 12th. Truist Financial downgraded Pacira BioSciences from a “buy” rating to a “sell” rating and reduced their price target for the company from $30.00 to $8.00 in a report on Tuesday, August 13th. Finally, StockNews.com downgraded Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a 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 given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $24.78.

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.