Pacira BioSciences (NASDAQ:PCRX) SVP Sells $143,702.50 in Stock

Pacira BioSciences, Inc. (NASDAQ:PCRX) SVP Lauren Riker sold 6,115 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $23.50, for a total transaction of $143,702.50. Following the completion of the sale, the senior vice president directly owned 62,284 shares of the company’s stock, valued at approximately $1,463,674. This represents a 8.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pacira BioSciences Price Performance

Shares of Pacira BioSciences stock traded down $0.37 during midday trading on Friday, reaching $22.99. The company had a trading volume of 371,248 shares, compared to its average volume of 408,642. The stock has a fifty day simple moving average of $23.58 and a 200 day simple moving average of $23.27. The company has a current ratio of 4.73, a quick ratio of 3.35 and a debt-to-equity ratio of 0.56. Pacira BioSciences, Inc. has a 1-year low of $18.80 and a 1-year high of $27.64. The company has a market capitalization of $904.66 million, a price-to-earnings ratio of 191.60 and a beta of 0.29.

Pacira BioSciences (NASDAQ:PCRX) last released its earnings results on Thursday, April 30th. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). Pacira BioSciences had a return on equity of 10.24% and a net margin of 0.70%.The business had revenue of $177.38 million for the quarter, compared to analyst estimates of $171.80 million. During the same period in the prior year, the firm posted $0.65 EPS. Pacira BioSciences’s revenue was up 5.0% on a year-over-year basis. As a group, equities research analysts forecast that Pacira BioSciences, Inc. will post 1.91 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on PCRX shares. Needham & Company LLC raised their target price on Pacira BioSciences from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Royal Bank Of Canada boosted their target price on Pacira BioSciences from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Barclays reduced their price objective on shares of Pacira BioSciences from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 26th. Zacks Research upgraded shares of Pacira BioSciences from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, Wall Street Zen cut shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $29.40.

Hedge Funds Weigh In On Pacira BioSciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Doma Perpetual Capital Management LLC boosted its position in shares of Pacira BioSciences by 49.7% during the third quarter. Doma Perpetual Capital Management LLC now owns 2,701,324 shares of the company’s stock worth $69,613,000 after purchasing an additional 897,255 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Pacira BioSciences by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,163,473 shares of the company’s stock valued at $55,751,000 after acquiring an additional 11,831 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in Pacira BioSciences by 36.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,130,733 shares of the company’s stock valued at $50,925,000 after acquiring an additional 565,288 shares in the last quarter. American Century Companies Inc. lifted its position in Pacira BioSciences by 16.6% in the 3rd quarter. American Century Companies Inc. now owns 1,378,513 shares of the company’s stock valued at $35,524,000 after acquiring an additional 196,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Pacira BioSciences by 49.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company’s stock valued at $27,454,000 after acquiring an additional 367,869 shares in 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.