M&R Capital Management Inc. Invests $28,000 in Pacira BioSciences, Inc. (NASDAQ:PCRX)

M&R Capital Management Inc. bought a new stake in Pacira BioSciences, Inc. (NASDAQ:PCRX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 700 shares of the company’s stock, valued at approximately $28,000.

Several other large investors have also recently bought and sold shares of the business. Ameriprise Financial Inc. raised its holdings in Pacira BioSciences by 0.8% during the first quarter. Ameriprise Financial Inc. now owns 258,966 shares of the company’s stock worth $10,568,000 after purchasing an additional 1,957 shares in the last quarter. Apollo Management Holdings L.P. purchased a new stake in Pacira BioSciences in the first quarter valued at $86,000. Segall Bryant & Hamill LLC lifted its position in Pacira BioSciences by 1.3% in the first quarter. Segall Bryant & Hamill LLC now owns 94,047 shares of the company’s stock valued at $3,838,000 after acquiring an additional 1,165 shares during the last quarter. Frontier Capital Management Co. LLC boosted its stake in Pacira BioSciences by 51.1% in the first quarter. Frontier Capital Management Co. LLC now owns 1,604,084 shares of the company’s stock valued at $65,463,000 after acquiring an additional 542,661 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Pacira BioSciences by 4.3% during the first quarter. Geode Capital Management LLC now owns 882,784 shares of the company’s stock worth $36,026,000 after purchasing an additional 36,621 shares during the last quarter. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Stock Up 1.5 %

Shares of NASDAQ PCRX opened at $34.77 on Friday. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of -217.30 and a beta of 0.70. Pacira BioSciences, Inc. has a 52 week low of $32.67 and a 52 week high of $58.10. The firm has a 50-day moving average price of $36.58 and a 200 day moving average price of $39.45. The company has a quick ratio of 3.10, a current ratio of 3.94 and a debt-to-equity ratio of 0.66.

Pacira BioSciences (NASDAQ:PCRX) last issued its earnings results on Wednesday, August 2nd. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.02. The company had revenue of $169.47 million during the quarter, compared to analysts’ expectations of $175.64 million. Pacira BioSciences had a negative net margin of 0.68% and a positive return on equity of 11.56%. Equities research analysts anticipate that Pacira BioSciences, Inc. will post 2.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PCRX has been the topic of a number of research reports. HC Wainwright dropped their price target on Pacira BioSciences from $68.00 to $63.00 and set a “buy” rating on the stock in a research note on Thursday, August 3rd. Truist Financial reduced their price target on shares of Pacira BioSciences from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday, August 3rd. TD Cowen raised shares of Pacira BioSciences from a “market perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research report on Thursday, August 3rd. Needham & Company LLC decreased their target price on shares of Pacira BioSciences from $60.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, August 3rd. Finally, Piper Sandler dropped their price target on Pacira BioSciences from $60.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, August 3rd. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $58.00.

Insider Buying and Selling

In other news, SVP Lauren Bullaro Riker sold 643 shares of Pacira BioSciences stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $38.91, for a total transaction of $25,019.13. Following the completion of the transaction, the senior vice president now owns 22,687 shares of the company’s stock, valued at approximately $882,751.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.60% of the stock is currently owned by insiders.

About Pacira BioSciences

Pacira BioSciences, Inc provides non-opioid pain management and regenerative health solutions for healthcare practitioners and their patients 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 only to targeted nerves.