Shawn Cross Sells 2,845 Shares of Pacira BioSciences (NASDAQ:PCRX) Stock

Pacira BioSciences, Inc. (NASDAQ:PCRX) CFO Shawn Cross sold 2,845 shares of the stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $25.01, for a total value of $71,153.45. Following the sale, the chief financial officer owned 105,341 shares in the company, valued at $2,634,578.41. The trade was a 2.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Shawn Cross also recently made the following trade(s):

• On Wednesday, April 22nd, Shawn Cross sold 1,500 shares of Pacira BioSciences stock. The stock was sold at an average price of $25.01, for a total value of $37,515.00.
• On Monday, April 20th, Shawn Cross sold 7,714 shares of Pacira BioSciences stock. The stock was sold at an average price of $25.14, for a total value of $193,929.96.

Pacira BioSciences Price Performance

Shares of PCRX stock opened at $25.36 on Friday. The stock’s fifty day moving average is $23.04 and its 200-day moving average is $23.08. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.28 and a current ratio of 4.54. The stock has a market capitalization of $1.03 billion, a PE ratio of 169.07 and a beta of 0.19. Pacira BioSciences, Inc. has a 52 week low of $18.80 and a 52 week high of $27.64.

Pacira BioSciences (NASDAQ:PCRX) last announced its earnings results on Thursday, February 26th. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.28). The business had revenue of $196.87 million for the quarter, compared to the consensus estimate of $201.93 million. Pacira BioSciences had a return on equity of 10.39% and a net margin of 0.97%.Pacira BioSciences’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 EPS. Equities research analysts expect that Pacira BioSciences, Inc. will post 1.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PCRX shares. Barclays reduced their price objective on Pacira BioSciences from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, March 26th. Zacks Research raised Pacira BioSciences from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Pacira BioSciences in a report on Monday, December 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 price objective on shares of Pacira BioSciences in a report on Friday, January 9th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $38.00 price objective on shares of Pacira BioSciences in a report on Friday, January 9th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $30.25.

Institutional Investors Weigh In On Pacira BioSciences

A number of institutional investors and hedge funds have recently modified their holdings of PCRX. Hantz Financial Services Inc. raised its stake in shares of Pacira BioSciences by 175.4% during the third quarter. Hantz Financial Services Inc. now owns 1,132 shares of the company’s stock worth $29,000 after buying an additional 721 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Pacira BioSciences by 5,900.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,500 shares of the company’s stock worth $39,000 after buying an additional 1,475 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Pacira BioSciences during the fourth quarter worth approximately $48,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Pacira BioSciences during the fourth quarter worth approximately $51,000. Finally, Global Retirement Partners LLC raised its stake in shares of Pacira BioSciences by 479.4% during the fourth quarter. Global Retirement Partners LLC now owns 2,028 shares of the company’s stock worth $52,000 after buying an additional 1,678 shares during the last quarter. 99.73% of the stock is owned by institutional investors.

Pacira BioSciences Company Profile

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid, non-addictive pain management and regenerative health solutions. The company’s flagship product, EXPAREL, is a bupivacaine liposome injectable suspension designed to provide long-lasting postsurgical analgesia. EXPAREL is used by clinicians across a broad range of surgical procedures to reduce reliance on opioid medications and to help manage acute postoperative pain.

In addition to its marketed offering, Pacira maintains an active pipeline of investigational products aimed at addressing unmet needs in pain management and inflammation control.