Wedge Capital Management L L P NC Acquires New Stake in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Wedge Capital Management L L P NC acquired a new stake in Pacira BioSciences, Inc. (NASDAQ:PCRX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 31,414 shares of the company’s stock, valued at approximately $1,060,000. Wedge Capital Management L L P NC owned 0.07% of Pacira BioSciences at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Gradient Investments LLC raised its holdings in shares of Pacira BioSciences by 33.0% in the 4th quarter. Gradient Investments LLC now owns 139,949 shares of the company’s stock valued at $4,722,000 after buying an additional 34,723 shares during the period. Gotham Asset Management LLC raised its holdings in shares of Pacira BioSciences by 16.8% in the 3rd quarter. Gotham Asset Management LLC now owns 22,317 shares of the company’s stock valued at $685,000 after buying an additional 3,203 shares during the period. Assenagon Asset Management S.A. increased its holdings in Pacira BioSciences by 185.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 246,621 shares of the company’s stock worth $8,321,000 after purchasing an additional 160,149 shares during the period. Boston Partners increased its holdings in Pacira BioSciences by 105.4% during the 3rd quarter. Boston Partners now owns 108,509 shares of the company’s stock worth $3,329,000 after purchasing an additional 55,679 shares during the period. Finally, Loomis Sayles & Co. L P increased its holdings in Pacira BioSciences by 10.2% during the 3rd quarter. Loomis Sayles & Co. L P now owns 374,980 shares of the company’s stock worth $11,504,000 after purchasing an additional 34,811 shares during the period. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Insiders Place Their Bets

In other Pacira BioSciences news, Director Gary W. Pace sold 90,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $30.60, for a total transaction of $2,754,000.00. Following the completion of the sale, the director now directly owns 22,127 shares of the company’s stock, valued at approximately $677,086.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Pacira BioSciences news, Director Gary W. Pace sold 90,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $30.60, for a total transaction of $2,754,000.00. Following the completion of the sale, the director now directly owns 22,127 shares of the company’s stock, valued at approximately $677,086.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary W. Pace sold 1,066 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $29.67, for a total value of $31,628.22. Following the sale, the director now directly owns 140,384 shares of the company’s stock, valued at $4,165,193.28. The disclosure for this sale can be found here. 6.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PCRX shares. Needham & Company LLC restated a “buy” rating and set a $45.00 price target on shares of Pacira BioSciences in a report on Tuesday, April 9th. HC Wainwright restated a “buy” rating and set a $57.00 price target on shares of Pacira BioSciences in a report on Monday, March 4th. Royal Bank of Canada cut their price target on Pacira BioSciences from $53.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. JPMorgan Chase & Co. assumed coverage on Pacira BioSciences in a report on Thursday, March 7th. They set an “overweight” rating and a $45.00 price target on the stock. Finally, TheStreet upgraded Pacira BioSciences from a “d+” rating to a “c” rating in a report on Thursday, February 29th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, Pacira BioSciences has a consensus rating of “Buy” and a consensus target price of $49.50.

Pacira BioSciences Stock Down 1.5 %

Shares of NASDAQ PCRX opened at $25.50 on Friday. The stock has a market cap of $1.19 billion, a PE ratio of 31.48 and a beta of 0.76. The company has a quick ratio of 4.17, a current ratio of 5.24 and a debt-to-equity ratio of 0.59. Pacira BioSciences, Inc. has a 52-week low of $25.33 and a 52-week high of $48.60. The business has a 50-day moving average price of $28.76 and a 200 day moving average price of $29.68.

Pacira BioSciences (NASDAQ:PCRX) last announced its earnings results on Thursday, February 29th. The company reported $0.71 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.71. Pacira BioSciences had a return on equity of 12.81% and a net margin of 6.22%. The firm had revenue of $181.24 million during the quarter, compared to analysts’ expectations of $180.60 million. Equities research analysts forecast that Pacira BioSciences, Inc. will post 2.18 earnings per share 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.