Jonathan Slonin Sells 3,261 Shares of Pacira BioSciences (NASDAQ:PCRX) Stock

Pacira BioSciences, Inc. (NASDAQ:PCRX) insider Jonathan Slonin sold 3,261 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $22.82, for a total value of $74,416.02. Following the sale, the insider directly owned 223,640 shares in the company, valued at approximately $5,103,464.80. The trade was a 1.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Pacira BioSciences Trading Down 2.0%

Pacira BioSciences stock opened at $22.11 on Friday. The stock has a 50-day moving average price of $21.70 and a 200 day moving average price of $23.53. Pacira BioSciences, Inc. has a 52 week low of $18.80 and a 52 week high of $27.64. The stock has a market cap of $895.23 million, a PE ratio of 147.40 and a beta of 0.21. The company has a current ratio of 4.54, a quick ratio of 3.28 and a debt-to-equity ratio of 0.54.

Pacira BioSciences (NASDAQ:PCRX) last released its earnings results on Thursday, February 26th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.28). Pacira BioSciences had a net margin of 0.97% and a return on equity of 10.39%. The firm had revenue of $196.87 million during the quarter, compared to analysts’ expectations of $201.93 million. During the same quarter last year, the company posted $0.91 earnings per share. Pacira BioSciences’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities research analysts predict that Pacira BioSciences, Inc. will post 2.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PCRX has been the topic of a number of analyst reports. Needham & Company LLC restated a “buy” rating and set a $30.00 target price on shares of Pacira BioSciences in a research report on Friday, January 9th. Zacks Research downgraded Pacira BioSciences from a “hold” rating to a “strong sell” rating in a report on Monday, March 9th. Barclays started coverage on Pacira BioSciences in a research note on Tuesday, December 9th. They set an “equal weight” rating and a $27.00 price target on the stock. HC Wainwright restated a “buy” rating and set a $38.00 price objective on shares of Pacira BioSciences in a report on Friday, January 9th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Pacira BioSciences in a research report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $30.75.

Institutional Investors Weigh In On Pacira BioSciences

A number of institutional investors have recently bought and sold shares of PCRX. Doma Perpetual Capital Management LLC boosted its holdings in Pacira BioSciences by 49.7% in the third quarter. Doma Perpetual Capital Management LLC now owns 2,701,324 shares of the company’s stock valued at $69,613,000 after acquiring an additional 897,255 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in Pacira BioSciences during the third quarter worth about $2,706,000. Impax Asset Management Group plc increased its stake in Pacira BioSciences by 27.7% during the third quarter. Impax Asset Management Group plc now owns 600,027 shares of the company’s stock worth $15,463,000 after acquiring an additional 130,000 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of Pacira BioSciences in the 3rd quarter worth about $1,948,000. Finally, American Century Companies Inc. raised its holdings in shares of Pacira BioSciences by 77.2% in the 2nd quarter. American Century Companies Inc. now owns 1,182,513 shares of the company’s stock worth $28,262,000 after purchasing an additional 515,090 shares during the period. 99.73% of the stock is currently owned by hedge funds and other institutional investors.

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.