Pacira BioSciences (NASDAQ:PCRX) Insider Sells $70,619.20 in 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 value of $70,619.20. Following the completion of the sale, the insider directly owned 216,384 shares of the company’s stock, valued at approximately $5,026,600.32. This trade represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pacira BioSciences Trading Down 2.2%

PCRX opened at $23.83 on Friday. The firm has a market cap of $949.91 million, a price-to-earnings ratio of 68.09 and a beta of 0.27. Pacira BioSciences, Inc. has a 52 week low of $18.80 and a 52 week high of $27.66. The business’s 50 day moving average is $24.85 and its two-hundred day moving average is $23.66. 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 (NASDAQ:PCRX) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.08. The business had revenue of $192.40 million during the quarter, compared to the consensus estimate of $191.06 million. Pacira BioSciences had a return on equity of 9.68% and a net margin of 1.96%.The company’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.74 earnings per share. On average, research analysts predict that Pacira BioSciences, Inc. will post 1.98 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PCRX. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Pacira BioSciences by 5,900.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,500 shares of the company’s stock valued at $39,000 after buying an additional 1,475 shares during the period. Meeder Asset Management Inc. acquired a new position in Pacira BioSciences in the 1st quarter valued at $46,000. Kestra Advisory Services LLC acquired a new position in Pacira BioSciences in the 4th quarter valued at $48,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Pacira BioSciences during the 4th quarter worth $51,000. Finally, Global Retirement Partners LLC purchased a new position in shares of Pacira BioSciences during the 2nd quarter worth $51,000. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PCRX shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Pacira BioSciences in a research report on Monday. Wall Street Zen downgraded shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 16th. Truist Financial initiated coverage on Pacira BioSciences in a report on Monday. They set a “buy” rating and a $30.00 price target on the stock. Royal Bank Of Canada upped their price objective on Pacira BioSciences from $24.00 to $25.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 5th. Finally, Needham & Company LLC increased their price objective on Pacira BioSciences from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.