Pacira BioSciences (NASDAQ:PCRX) Stock Price Crosses Below Fifty Day Moving Average – Time to Sell?

Pacira BioSciences, Inc. (NASDAQ:PCRX)’s share price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $23.46 and traded as low as $22.47. Pacira BioSciences shares last traded at $23.48, with a volume of 404,074 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently issued reports on PCRX. Barclays lowered their target price on shares of Pacira BioSciences from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Thursday, March 26th. Weiss Ratings upgraded shares of Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday. Needham & Company LLC upped their target price on shares of Pacira BioSciences from $30.00 to $32.00 and gave the company a “buy” rating in a report on Friday, May 1st. Zacks Research upgraded shares of Pacira BioSciences from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, Royal Bank Of Canada upped their target price on shares of Pacira BioSciences from $22.00 to $24.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Three investment 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $29.40.

Pacira BioSciences Stock Performance

The stock has a market cap of $923.94 million, a price-to-earnings ratio of 195.68 and a beta of 0.32. The stock’s 50 day moving average is $23.46 and its two-hundred day moving average is $23.27. The company has a current ratio of 4.73, a quick ratio of 3.35 and a debt-to-equity ratio of 0.56.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). The business had revenue of $177.38 million for the quarter, compared to analyst estimates of $171.80 million. Pacira BioSciences had a return on equity of 10.24% and a net margin of 0.70%.The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 EPS. Analysts anticipate that Pacira BioSciences, Inc. will post 1.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Shawn Cross sold 12,941 shares of the firm’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $25.16, for a total value of $325,595.56. Following the completion of the sale, the chief financial officer owned 105,341 shares in the company, valued at approximately $2,650,379.56. This trade represents a 10.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Slonin sold 3,261 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $22.82, for a total transaction of $74,416.02. Following the completion of the sale, the insider owned 223,640 shares of the company’s stock, valued at $5,103,464.80. This trade represents a 1.44% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 28,261 shares of company stock valued at $702,610. 6.40% of the stock is owned by company insiders.

Institutional Trading of Pacira BioSciences

Several hedge funds have recently made changes to their positions in the company. Doma Perpetual Capital Management LLC lifted its stake in shares of Pacira BioSciences by 49.7% in the 3rd quarter. Doma Perpetual Capital Management LLC now owns 2,701,324 shares of the company’s stock worth $69,613,000 after acquiring an additional 897,255 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Pacira BioSciences by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,163,473 shares of the company’s stock worth $55,751,000 after acquiring an additional 11,831 shares during the period. Balyasny Asset Management L.P. lifted its stake in shares of Pacira BioSciences by 36.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,130,733 shares of the company’s stock worth $50,925,000 after acquiring an additional 565,288 shares during the period. American Century Companies Inc. lifted its stake in shares of Pacira BioSciences by 16.6% in the 3rd quarter. American Century Companies Inc. now owns 1,378,513 shares of the company’s stock worth $35,524,000 after acquiring an additional 196,000 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Pacira BioSciences by 49.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company’s stock worth $27,454,000 after acquiring an additional 367,869 shares during the period. Institutional investors and hedge funds own 99.73% of the company’s stock.

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.