The most recent 13F filing that the State of New Jersey Common Pension Fund D filed with the Securities and Exchange Commission revealed that the fund increased its holding in Pacira BioSciences, Inc. (NASDAQ:PCRX) in the third quarter of 2018. The mutual fund ended the period with a total of 42,061 shares, having bought an additional 6,337 shares of the company at various points in time. The most recent document filed with the Securities and Exchange Commission shows that the State of New Jersey Common Pension Fund D owns 0.09% of Pacira BioSciences stock, which has an estimated market value of $2,237,000 at the time of writing.
Several other institutional investors and hedge funds have also changed their stock holdings based on recent market activity. During the second quarter, First Horizon Advisors, Inc. increased its holdings of Pacira BioSciences stock by 14,433.3%, bringing the overall percentage to 100%. First Horizon Advisors Inc. has acquired ownership of 436 shares of the company, each currently valued at $25,000 at the time of the transaction. This is a direct result of the purchase of 433 additional shares in the last fiscal quarter. During the second quarter, Neo Ivy Capital Management invested in Pacira BioSciences, buying and adding the company to its portfolio for nearly $44,000. Heritage Wealth Management LLC spent approximately $152,000 in the second quarter to acquire an additional interest in Pacira BioSciences. Quantbot Technologies LP spent approximately $156,000 in the second quarter to acquire another stake in Pacira BioSciences. This transaction took place in the second quarter. Finally, Dakota Wealth Management invested $202,000 in Pacira BioSciences in the second quarter of 2018.
PCRX has been raised as a topic of discussion in several different broker reports. Jefferies Financial Group said it would cover Pacira BioSciences stock in a research note published the same day, Oct. 21. The note was issued that day. They proposed a “buy” investment in the company and set a price target of $66,000 for the stock. StockNews.com issued the first research note on Pacira BioSciences shares on October 12, the same day the research note was released. They recommended that shareholders “hold” their shares in the company. In a research note published Dec. 14, Cowen announced that the target price they had on Pacira BioSciences stock price would be reduced from $54.00 to $50.00. Wedbush, a brokerage firm, issued a research note on Wednesday, December 21, in which the company reiterated a “buy” rating on Pacira BioSciences and positioned it with a target price of $88,000. The research note was also available online. Finally, HC Wainwright lowered his buy rating on Pacira BioSciences and lowered his price target on the stock to $76.00 from $83.00. Six equity research specialists have given the company a buy rating, while only two investors recommend holding their current shares. According to Bloomberg.com, the stock is currently rated “Moderate Buy” and analysts have set their price targets at an average of $68.80 per share. This information was obtained from the Bloomberg.com website.
On Wednesday, PCRX stock was trading at $37.95 per share on the NASDAQ. The company has a market cap of $1.74 billion, its PE ratio is 92.56 and its beta is 0.76. The value of the enterprise beta is 0.76. The company currently has a 50-day simple moving average of $43.43 and its 200-day simple moving average is $50.83. Over the past year, Pacira BioSciences, Inc.’s stock price has ranged from a record high of $82.16 to a record low of $36.38. The debt to equity ratio is 0.93, the fast ratio is 3.32, the current ratio is 406 and the fast ratio is 4.06
On November 3rd, Pacira BioSciences (NASDAQ:PCRX) released its latest quarterly earnings report by presenting it and making it available for general public consumption. The company reported earnings of $0.42 per share (EPS) for the quarter, up $0.02 from a previously circulating estimate of $0.40 per share. The company’s performance for the quarter resulted in actual revenue of $167.47 million compared to the consensus estimate from industry analysts of $167.30 million. Pacira BioSciences achieved a return on equity of 12.34% and the company’s net margin was 3.19%. Financial analysts are forecasting that Pacira BioSciences, Inc. will post earnings per share of $2.03 for the current fiscal year.
Pacira BioSciences, Inc. provides non-opioid pain management and regenerative health solutions to healthcare providers and their patients throughout the United States. These services are provided by Pacira BioSciences, Inc. Iovera is a wearable, opioid-free cryoanalgesic device that delivers controlled doses of cold to specific neurons to relieve pain. Its purpose is to relieve pain in a way that does not involve the use of opioids. ZILRETTA is an injectable, sustained-release suspension of triamcinolone acetonide that is administered to the patient who is being injected.