Pacira BioSciences (NASDAQ:PCRX) Shares Gap Down – Here’s What Happened

Pacira BioSciences, Inc. (NASDAQ:PCRX)’s share price gapped down prior to trading on Friday . The stock had previously closed at $26.02, but opened at $24.64. Pacira BioSciences shares last traded at $23.6870, with a volume of 273,929 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PCRX. Barclays started coverage on Pacira BioSciences in a report on Tuesday, December 9th. They issued an “equal weight” rating and a $27.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price objective on shares of Pacira BioSciences in a research note on Friday. HC Wainwright reissued a “buy” rating and issued a $38.00 price objective on shares of Pacira BioSciences in a report on Friday. Wall Street Zen upgraded shares of Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Finally, Truist Financial cut their price objective on shares of Pacira BioSciences from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $28.20.

Pacira BioSciences Price Performance

The firm’s fifty day moving average is $24.49 and its two-hundred day moving average is $24.24. The company has a market cap of $1.01 billion, a P/E ratio of 52.07 and a beta of 0.22. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.78 and a current ratio of 5.26.

Pacira BioSciences (NASDAQ:PCRX) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. The firm had revenue of $179.52 million for the quarter, compared to analysts’ expectations of $182.86 million. Pacira BioSciences had a net margin of 2.99% and a return on equity of 12.82%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.79 earnings per share. As a group, analysts anticipate that Pacira BioSciences, Inc. will post 2.41 earnings per share for the current fiscal year.

Insider Activity at Pacira BioSciences

In related news, SVP Lauren Riker sold 1,416 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $24.24, for a total value of $34,323.84. Following the sale, the senior vice president owned 59,064 shares in the company, valued at approximately $1,431,711.36. The trade was a 2.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Shawn Cross sold 15,896 shares of the stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $25.03, for a total transaction of $397,876.88. Following the completion of the transaction, the chief financial officer directly owned 56,250 shares of the company’s stock, valued at approximately $1,407,937.50. The trade was a 22.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 34,336 shares of company stock valued at $851,868. 6.40% of the stock is owned by corporate insiders.

Institutional Trading of Pacira BioSciences

Several institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its stake in Pacira BioSciences by 17.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,511 shares of the company’s stock worth $84,000 after buying an additional 531 shares during the period. Hantz Financial Services Inc. raised its position in Pacira BioSciences by 175.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,132 shares of the company’s stock valued at $29,000 after purchasing an additional 721 shares in the last quarter. Inspire Investing LLC lifted its holdings in shares of Pacira BioSciences by 5.1% in the 3rd quarter. Inspire Investing LLC now owns 17,402 shares of the company’s stock worth $448,000 after buying an additional 846 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Pacira BioSciences by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,242 shares of the company’s stock worth $677,000 after buying an additional 1,165 shares in the last quarter. Finally, Swiss National Bank grew its position in shares of Pacira BioSciences by 1.6% during the 3rd quarter. Swiss National Bank now owns 89,800 shares of the company’s stock worth $2,314,000 after buying an additional 1,400 shares in the last quarter. Institutional investors own 99.73% of the company’s stock.

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.