Louisiana State Employees Retirement System Invests $783,000 in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Louisiana State Employees Retirement System purchased a new position in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 23,200 shares of the company’s stock, valued at approximately $783,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PCRX. Rock Springs Capital Management LP boosted its stake in Pacira BioSciences by 2.0% in the 3rd quarter. Rock Springs Capital Management LP now owns 1,055,500 shares of the company’s stock worth $32,383,000 after purchasing an additional 20,500 shares during the period. Pacer Advisors Inc. boosted its stake in Pacira BioSciences by 397,487.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,041,679 shares of the company’s stock worth $35,146,000 after purchasing an additional 1,041,417 shares during the period. Rice Hall James & Associates LLC boosted its stake in Pacira BioSciences by 6.8% in the 3rd quarter. Rice Hall James & Associates LLC now owns 968,485 shares of the company’s stock worth $29,713,000 after purchasing an additional 61,680 shares during the period. Rubric Capital Management LP bought a new position in Pacira BioSciences in the 3rd quarter worth about $14,102,000. Finally, Loomis Sayles & Co. L P boosted its stake in Pacira BioSciences by 10.2% in 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. Institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Stock Performance

Shares of NASDAQ PCRX opened at $26.33 on Friday. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 32.51 and a beta of 0.76. The company has a current ratio of 5.24, a quick ratio of 4.17 and a debt-to-equity ratio of 0.59. Pacira BioSciences, Inc. has a 1-year low of $25.33 and a 1-year high of $48.60. The stock’s 50-day moving average is $28.71 and its 200 day moving average is $29.65.

Pacira BioSciences (NASDAQ:PCRX) last announced its quarterly earnings results on Thursday, February 29th. The company reported $0.71 EPS for the quarter, hitting analysts’ consensus estimates of $0.71. The business had revenue of $181.24 million for the quarter, compared to analysts’ expectations of $180.60 million. Pacira BioSciences had a return on equity of 12.81% and a net margin of 6.22%. On average, sell-side analysts anticipate that Pacira BioSciences, Inc. will post 2.18 EPS for the current fiscal year.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

PCRX has been the subject of several analyst reports. Wedbush restated an “outperform” rating and issued a $57.00 target price on shares of Pacira BioSciences in a research note on Thursday, February 8th. TheStreet raised Pacira BioSciences from a “d+” rating to a “c” rating in a report on Thursday, February 29th. HC Wainwright reaffirmed a “buy” rating and issued a $57.00 price target on shares of Pacira BioSciences in a report on Monday, March 4th. Royal Bank of Canada lowered 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. Finally, JPMorgan Chase & Co. initiated coverage on Pacira BioSciences in a report on Thursday, March 7th. They issued an “overweight” rating and a $45.00 price target on the stock. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $49.50.

Pacira BioSciences Company 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.