Jonathan Slonin Sells 3,040 Shares of Pacira BioSciences (NASDAQ:PCRX) Stock

Pacira BioSciences, Inc. (NASDAQ:PCRX) insider Jonathan Slonin sold 3,040 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $23.23, for a total transaction of $70,619.20. Following the transaction, the insider owned 216,384 shares in the company, valued at approximately $5,026,600.32. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pacira BioSciences Stock Up 1.5%

PCRX stock opened at $24.36 on Thursday. The firm has a 50 day moving average of $24.84 and a 200 day moving average of $23.63. The stock has a market capitalization of $970.99 million, a PE ratio of 69.60 and a beta of 0.27. The company has a quick ratio of 3.94, a current ratio of 5.04 and a debt-to-equity ratio of 0.54. Pacira BioSciences, Inc. has a 52 week low of $18.80 and a 52 week high of $27.66.

Pacira BioSciences (NASDAQ:PCRX) last released its earnings results on Tuesday, August 4th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.08. The company had revenue of $192.40 million for the quarter, compared to the consensus estimate of $191.06 million. Pacira BioSciences had a net margin of 1.96% and a return on equity of 9.68%. Pacira BioSciences’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.74 EPS. Sell-side analysts forecast that Pacira BioSciences, Inc. will post 1.98 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Hsbc Holdings PLC boosted its holdings in Pacira BioSciences by 48.0% in the second quarter. Hsbc Holdings PLC now owns 29,482 shares of the company’s stock valued at $747,000 after purchasing an additional 9,560 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Pacira BioSciences by 17.8% during the 2nd quarter. Wellington Management Group LLP now owns 563,458 shares of the company’s stock valued at $14,295,000 after buying an additional 85,075 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Pacira BioSciences during the 2nd quarter valued at about $5,076,000. Caitlin John LLC acquired a new position in shares of Pacira BioSciences in the 2nd quarter valued at about $120,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Pacira BioSciences in the 2nd quarter valued at about $1,050,000. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Royal Bank Of Canada raised their target price on Pacira BioSciences from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 5th. Wall Street Zen lowered Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Sunday. Weiss Ratings restated a “sell (d+)” rating on shares of Pacira BioSciences in a research note on Monday. Truist Financial started coverage on Pacira BioSciences in a research note on Monday. They issued a “buy” rating and a $30.00 price objective for the company. Finally, Needham & Company LLC lifted their target price on Pacira BioSciences from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Pacira BioSciences currently has an average rating of “Hold” and an average price target of $30.20.

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.