Pacira BioSciences (NASDAQ:PCRX) CFO Shawn Cross Sells 1,500 Shares of Stock

Pacira BioSciences, Inc. (NASDAQ:PCRX) CFO Shawn Cross sold 1,500 shares of Pacira BioSciences stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $25.01, for a total value of $37,515.00. Following the transaction, the chief financial officer directly owned 105,341 shares in the company, valued at approximately $2,634,578.41. This trade represents a 1.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 Tuesday, April 21st, Shawn Cross sold 2,845 shares of Pacira BioSciences stock. The shares were sold at an average price of $25.01, for a total value of $71,153.45.
• On Monday, April 20th, Shawn Cross sold 7,714 shares of Pacira BioSciences stock. The shares were sold at an average price of $25.14, for a total value of $193,929.96.

Pacira BioSciences Trading Up 1.0%

NASDAQ:PCRX opened at $24.88 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.54 and a quick ratio of 3.28. Pacira BioSciences, Inc. has a fifty-two week low of $18.80 and a fifty-two week high of $27.64. The stock’s 50-day moving average is $22.96 and its two-hundred day moving average is $23.06. The stock has a market cap of $1.01 billion, a PE ratio of 165.87 and a beta of 0.19.

Pacira BioSciences (NASDAQ:PCRX) last released its earnings results on Thursday, February 26th. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.28). Pacira BioSciences had a net margin of 0.97% and a return on equity of 10.39%. The business had revenue of $196.87 million for the quarter, compared to analysts’ expectations of $201.93 million. During the same period last year, the firm earned $0.91 EPS. The company’s revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts forecast that Pacira BioSciences, Inc. will post 1.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pacira BioSciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Inspire Investing LLC raised its position in Pacira BioSciences by 3.2% during the fourth quarter. Inspire Investing LLC now owns 17,958 shares of the company’s stock valued at $465,000 after acquiring an additional 556 shares in the last quarter. Hantz Financial Services Inc. raised its position in Pacira BioSciences by 175.4% during the third quarter. Hantz Financial Services Inc. now owns 1,132 shares of the company’s stock valued at $29,000 after acquiring an additional 721 shares in the last quarter. State of Wyoming lifted its position in shares of Pacira BioSciences by 7.0% in the fourth quarter. State of Wyoming now owns 11,155 shares of the company’s stock worth $289,000 after buying an additional 728 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Pacira BioSciences by 8.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 10,604 shares of the company’s stock worth $259,000 after buying an additional 785 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Pacira BioSciences by 2.6% in the fourth quarter. Franklin Resources Inc. now owns 33,860 shares of the company’s stock worth $876,000 after buying an additional 846 shares during the last quarter. Institutional investors own 99.73% of the company’s stock.

Wall Street Analyst Weigh In

PCRX has been the topic of a number of research reports. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price target on shares of Pacira BioSciences in a research note on Friday, January 9th. Barclays dropped their price target 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 price target on shares of Pacira BioSciences in a research note on Friday, January 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Pacira BioSciences in a research note on Monday, December 29th. Finally, Zacks Research raised shares of Pacira BioSciences from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Pacira BioSciences currently has a consensus rating of “Hold” and a consensus target price of $30.25.

About Pacira BioSciences

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.