Wedge Capital Management L L P NC Takes $1.06 Million Position in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Wedge Capital Management L L P NC purchased a new stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 31,414 shares of the company’s stock, valued at approximately $1,060,000.

Several other large investors have also recently modified their holdings of PCRX. China Universal Asset Management Co. Ltd. increased its position in shares of Pacira BioSciences by 96.8% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,185 shares of the company’s stock worth $36,000 after buying an additional 583 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Pacira BioSciences by 310.9% during the third quarter. Nisa Investment Advisors LLC now owns 2,001 shares of the company’s stock worth $61,000 after buying an additional 1,514 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Pacira BioSciences by 63.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,481 shares of the company’s stock worth $137,000 after buying an additional 1,736 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Pacira BioSciences by 9.4% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,103 shares of the company’s stock worth $157,000 after buying an additional 438 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Pacira BioSciences during the third quarter worth $245,000. Institutional investors own 99.73% of the company’s stock.

Wall Street Analysts Forecast Growth

PCRX has been the subject of several recent analyst reports. TheStreet upgraded shares of Pacira BioSciences from a “d+” rating to a “c” rating in a research report on Thursday, February 29th. HC Wainwright restated a “buy” rating and issued a $57.00 price target on shares of Pacira BioSciences in a report on Monday, March 4th. Wedbush restated an “outperform” rating and issued a $57.00 price target on shares of Pacira BioSciences in a report on Thursday, February 8th. Needham & Company LLC restated a “buy” rating and issued a $45.00 price target on shares of Pacira BioSciences in a report on Tuesday, April 9th. Finally, Royal Bank of Canada reduced their price target on shares of Pacira BioSciences from $53.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, March 1st. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Pacira BioSciences has a consensus rating of “Buy” and an average target price of $49.50.

Pacira BioSciences Stock Down 1.5 %

PCRX opened at $25.50 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 5.24 and a quick ratio of 4.17. The company’s 50-day moving average is $28.76 and its 200 day moving average is $29.68. Pacira BioSciences, Inc. has a fifty-two week low of $25.33 and a fifty-two week high of $48.60. The firm has a market capitalization of $1.19 billion, a P/E ratio of 31.48 and a beta of 0.76.

Pacira BioSciences (NASDAQ:PCRX) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.71 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.71. Pacira BioSciences had a net margin of 6.22% and a return on equity of 12.81%. The company had revenue of $181.24 million for the quarter, compared to analyst estimates of $180.60 million. Research analysts expect that Pacira BioSciences, Inc. will post 2.18 earnings per share for the current fiscal year.

Insider Activity at Pacira BioSciences

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

Pacira BioSciences 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.