Pacira BioSciences (NASDAQ:PCRX) Hits New 52-Week Low – Time to Sell?

Pacira BioSciences, Inc. (NASDAQ:PCRX) shares hit a new 52-week low during trading on Friday . The company traded as low as $19.70 and last traded at $19.6520, with a volume of 305829 shares. The stock had previously closed at $20.65.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PCRX. Weiss Ratings reiterated a “sell (d+)” rating on shares of Pacira BioSciences in a research note on Monday, December 29th. Wall Street Zen upgraded Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Needham & Company LLC reiterated a “buy” rating and set a $30.00 price objective on shares of Pacira BioSciences in a research note on Friday, January 9th. Truist Financial reduced their target price on shares of Pacira BioSciences from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Finally, Barclays initiated coverage on shares of Pacira BioSciences in a research report on Tuesday, December 9th. They set an “equal weight” rating and a $27.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Pacira BioSciences currently has an average rating of “Hold” and a consensus price target of $30.75.

Pacira BioSciences Stock Down 5.2%

The company has a debt-to-equity ratio of 0.52, a current ratio of 5.26 and a quick ratio of 3.78. The stock has a market cap of $841.90 million, a price-to-earnings ratio of 43.41 and a beta of 0.22. The firm has a 50 day simple moving average of $24.53 and a two-hundred day simple moving average of $24.17.

Pacira BioSciences (NASDAQ:PCRX) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. The company had revenue of $179.52 million during the quarter, compared to analysts’ expectations of $182.86 million. Pacira BioSciences had a return on equity of 12.82% and a net margin of 2.99%.Pacira BioSciences’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.79 EPS. As a group, sell-side analysts expect that Pacira BioSciences, Inc. will post 2.41 EPS for the current year.

Insider Transactions at Pacira BioSciences

In other Pacira BioSciences news, CFO Shawn Cross sold 15,896 shares of Pacira BioSciences stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $25.03, for a total transaction of $397,876.88. Following the transaction, the chief financial officer directly owned 56,250 shares in the company, valued at approximately $1,407,937.50. The trade was a 22.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Lauren Riker sold 1,416 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $24.24, for a total value of $34,323.84. Following the completion of the transaction, the senior vice president directly owned 59,064 shares of the company’s stock, valued at approximately $1,431,711.36. The trade was a 2.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 34,336 shares of company stock valued at $851,868 over the last three months. 6.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pacira BioSciences

Several institutional investors and hedge funds have recently modified their holdings of PCRX. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in Pacira BioSciences by 18.2% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 15,315 shares of the company’s stock worth $396,000 after buying an additional 2,358 shares during the period. Three Seasons Wealth LLC bought a new stake in shares of Pacira BioSciences during the fourth quarter worth $604,000. Foster & Motley Inc. raised its holdings in shares of Pacira BioSciences by 172.4% during the fourth quarter. Foster & Motley Inc. now owns 41,057 shares of the company’s stock worth $1,063,000 after acquiring an additional 25,984 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Pacira BioSciences by 8.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 10,604 shares of the company’s stock worth $259,000 after acquiring an additional 785 shares during the period. Finally, Hennion & Walsh Asset Management Inc. lifted its position in Pacira BioSciences by 171.4% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 138,105 shares of the company’s stock valued at $3,574,000 after acquiring an additional 87,210 shares in the last quarter. 99.73% of the stock is currently owned by institutional investors and hedge funds.

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.