Hillsdale Investment Management Inc. Increases Stock Holdings in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Hillsdale Investment Management Inc. increased its holdings in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) by 8.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 145,400 shares of the company’s stock after acquiring an additional 11,400 shares during the period. Hillsdale Investment Management Inc.’s holdings in Pacira BioSciences were worth $4,249,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PCRX. Vanguard Group Inc. lifted its holdings in Pacira BioSciences by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 5,113,384 shares of the company’s stock valued at $149,413,000 after purchasing an additional 14,960 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of Pacira BioSciences by 18.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 15,412 shares of the company’s stock worth $450,000 after acquiring an additional 2,410 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Pacira BioSciences by 8.0% in the 1st quarter. ProShare Advisors LLC now owns 12,461 shares of the company’s stock worth $364,000 after acquiring an additional 924 shares during the last quarter. Global Alpha Capital Management Ltd. increased its stake in shares of Pacira BioSciences by 4.6% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 75,800 shares of the company’s stock worth $2,215,000 after acquiring an additional 3,300 shares during the last quarter. Finally, QRG Capital Management Inc. increased its stake in shares of Pacira BioSciences by 42.0% in the 1st quarter. QRG Capital Management Inc. now owns 22,708 shares of the company’s stock worth $664,000 after acquiring an additional 6,721 shares during the last quarter. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Insider Buying and Selling

In other Pacira BioSciences news, insider Jonathan Slonin sold 5,012 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $28.57, for a total value of $143,192.84. Following the sale, the insider now directly owns 44,569 shares of the company’s stock, valued at approximately $1,273,336.33. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, COO Daryl Gaugler sold 1,000 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $28.38, for a total value of $28,380.00. Following the transaction, the chief operating officer now owns 116,040 shares in the company, valued at approximately $3,293,215.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jonathan Slonin sold 5,012 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $28.57, for a total value of $143,192.84. Following the completion of the transaction, the insider now owns 44,569 shares in the company, valued at approximately $1,273,336.33. The disclosure for this sale can be found here. Insiders sold 21,150 shares of company stock worth $602,170 over the last 90 days. 6.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PCRX has been the subject of a number of recent research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $43.00 target price on shares of Pacira BioSciences in a research note on Tuesday, July 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $57.00 target price on shares of Pacira BioSciences in a research note on Tuesday, July 2nd. Barclays downgraded Pacira BioSciences from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $38.00 to $25.00 in a research note on Wednesday, July 3rd. Finally, Piper Sandler reissued an “overweight” rating and set a $42.00 price objective on shares of Pacira BioSciences in a research report on Wednesday, July 3rd. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Pacira BioSciences presently has an average rating of “Moderate Buy” and an average target price of $46.10.

Pacira BioSciences Trading Up 4.3 %

Pacira BioSciences stock traded up $0.84 during midday trading on Monday, reaching $20.21. 1,166,389 shares of the stock traded hands, compared to its average volume of 747,600. The company has a 50-day simple moving average of $26.88 and a two-hundred day simple moving average of $28.62. Pacira BioSciences, Inc. has a 12-month low of $19.34 and a 12-month high of $40.16. The firm has a market cap of $940.78 million, a PE ratio of 14.13 and a beta of 0.88. The company has a current ratio of 5.81, a quick ratio of 4.78 and a debt-to-equity ratio of 0.57.

Pacira BioSciences (NASDAQ:PCRX) last announced its earnings results on Tuesday, May 7th. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). The firm had revenue of $167.12 million for the quarter, compared to analysts’ expectations of $165.43 million. Pacira BioSciences had a net margin of 10.34% and a return on equity of 12.98%. Research analysts expect that Pacira BioSciences, Inc. will post 2.13 earnings per share for the current fiscal year.

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.