Park Place Capital Corp Takes Position in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Park Place Capital Corp purchased a new stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,600 shares of the company’s stock, valued at approximately $46,000.

Other institutional investors and hedge funds have also modified their holdings of the company. abrdn plc boosted its position in Pacira BioSciences by 14.3% during the fourth quarter. abrdn plc now owns 448,691 shares of the company’s stock valued at $15,139,000 after purchasing an additional 56,081 shares during the last quarter. Cobalt Capital Management Inc. acquired a new stake in Pacira BioSciences during the fourth quarter valued at $3,037,000. National Bank of Canada FI acquired a new stake in Pacira BioSciences during the fourth quarter valued at $966,000. Bridge City Capital LLC acquired a new stake in Pacira BioSciences during the first quarter valued at $1,810,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in Pacira BioSciences during the fourth quarter valued at $4,521,000. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Insiders Place Their Bets

In other Pacira BioSciences news, SVP Lauren Riker sold 3,970 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $28.72, for a total transaction of $114,018.40. Following the completion of the transaction, the senior vice president now owns 38,075 shares in the company, valued at approximately $1,093,514. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, SVP Lauren Riker sold 3,970 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $28.72, for a total transaction of $114,018.40. Following the completion of the transaction, the senior vice president now directly owns 38,075 shares in the company, valued at approximately $1,093,514. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jonathan Slonin sold 2,836 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $28.25, for a total transaction of $80,117.00. Following the transaction, the insider now owns 95,557 shares of the company’s stock, valued at $2,699,485.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,095 shares of company stock worth $621,118. Corporate insiders own 6.40% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on PCRX shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $43.00 price target on shares of Pacira BioSciences in a research report on Wednesday. Raymond James reduced their price target on Pacira BioSciences from $41.00 to $37.00 and set an “outperform” rating for the company in a research report on Wednesday. Barclays cut Pacira BioSciences from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $38.00 to $25.00 in a research report on Wednesday, July 3rd. Truist Financial reduced their price target on Pacira BioSciences from $45.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Finally, StockNews.com upgraded Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a research note on Thursday. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $41.44.

Pacira BioSciences Trading Up 2.5 %

Shares of PCRX traded up $0.51 during trading hours on Friday, reaching $21.26. The stock had a trading volume of 942,336 shares, compared to its average volume of 1,160,541. The company has a quick ratio of 4.78, a current ratio of 6.82 and a debt-to-equity ratio of 0.67. Pacira BioSciences, Inc. has a 52 week low of $19.34 and a 52 week high of $40.16. The firm has a 50-day moving average of $25.03 and a 200 day moving average of $27.80. The company has a market cap of $980.72 million, a P/E ratio of 14.87 and a beta of 0.88.

Pacira BioSciences (NASDAQ:PCRX) last released its earnings results on Tuesday, May 7th. The company reported $0.42 earnings per share (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 the consensus estimate of $165.43 million. Pacira BioSciences had a return on equity of 13.22% and a net margin of 9.21%. On average, sell-side 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.