Pacira BioSciences, Inc. (NASDAQ:PCRX) Shares Sold by Silvercrest Asset Management Group LLC

Posted by Defense World Staff on Jun 13th, 2023

Silvercrest Asset Management Group LLC cut its stake in shares of Pacira BioSciences, Inc. (NASDAQ:PCRX – Get Rating) by 62.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 104,371 shares of the company’s stock after selling 171,080 shares during the period. Silvercrest Asset Management Group LLC owned approximately 0.23% of Pacira BioSciences worth $4,030,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Dark Forest Capital Management LP lifted its stake in Pacira BioSciences by 92,300.0% in the fourth quarter. Dark Forest Capital Management LP now owns 924 shares of the company’s stock worth $36,000 after acquiring an additional 923 shares during the last quarter. U.S. Capital Wealth Advisors LLC acquired a new position in shares of Pacira BioSciences in the 4th quarter valued at $39,000. Neo Ivy Capital Management acquired a new position in shares of Pacira BioSciences in the 2nd quarter valued at $44,000. Quadrant Capital Group LLC increased its holdings in shares of Pacira BioSciences by 380.8% in the 3rd quarter. Quadrant Capital Group LLC now owns 875 shares of the company’s stock valued at $47,000 after acquiring an additional 693 shares during the period. Finally, Advisors Asset Management Inc. increased its holdings in shares of Pacira BioSciences by 32.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,257 shares of the company’s stock valued at $67,000 after acquiring an additional 309 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PCRX shares. StockNews.com assumed coverage on shares of Pacira BioSciences in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price target on shares of Pacira BioSciences in a research note on Thursday, April 20th. Piper Sandler decreased their price objective on shares of Pacira BioSciences from $63.00 to $62.00 in a research report on Tuesday, April 25th. Barclays reduced their target price on shares of Pacira BioSciences from $90.00 to $80.00 in a report on Friday, March 3rd. Finally, Royal Bank of Canada dropped their price objective on shares of Pacira BioSciences from $80.00 to $76.00 and set an “outperform” rating for the company in a research note on Wednesday, March 1st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $62.73.

Insider Activity at Pacira BioSciences

In related news, CEO David M. Stack sold 5,058 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $38.99, for a total value of $197,211.42. Following the transaction, the chief executive officer now directly owns 159,107 shares of the company’s stock, valued at approximately $6,203,581.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Pacira BioSciences news, CEO David M. Stack sold 5,058 shares of Pacira BioSciences stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $38.99, for a total value of $197,211.42. Following the transaction, the chief executive officer now directly owns 159,107 shares of the company’s stock, valued at approximately $6,203,581.93. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mark A. Kronenfeld sold 15,000 shares of Pacira BioSciences stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $37.04, for a total value of $555,600.00. Following the completion of the transaction, the director now directly owns 17,897 shares in the company, valued at $662,904.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,806 shares of company stock valued at $1,301,263. Corporate insiders own 6.60% of the company’s stock.

Pacira BioSciences Trading Down 0.0 %

Shares of NASDAQ PCRX opened at $36.12 on Tuesday. Pacira BioSciences, Inc. has a one year low of $35.35 and a one year high of $59.33. The firm has a market capitalization of $1.66 billion, a PE ratio of -133.78 and a beta of 0.77. The company has a current ratio of 3.81, a quick ratio of 2.87 and a debt-to-equity ratio of 0.71. The business has a 50-day moving average price of $41.73 and a two-hundred day moving average price of $41.10.

Pacira BioSciences (NASDAQ:PCRX – Get Rating) last announced its quarterly earnings results on Wednesday, May 3rd. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.08). The firm had revenue of $160.34 million for the quarter, compared to analyst estimates of $157.02 million. Pacira BioSciences had a negative net margin of 1.56% and a positive return on equity of 10.12%. As a group, analysts predict that Pacira BioSciences, Inc. will post 2.78 earnings per share for the current fiscal year.

About Pacira BioSciences

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Pacira Biosciences, Inc is a holding company, which engages in the provision of non-opioid pain management and regenerative health solutions to improve patients’ journeys along the neural pain pathway. Its products include EXPAREL, iovera, and DepoFoam. The company was founded in December 2006 and is headquartered in Tampa, FL.