Shawn Cross Sells 7,714 Shares of Pacira BioSciences (NASDAQ:PCRX) Stock

Pacira BioSciences, Inc. (NASDAQ:PCRX) CFO Shawn Cross sold 7,714 shares of the company’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $25.14, for a total value of $193,929.96. Following the completion of the transaction, the chief financial officer directly owned 105,341 shares in the company, valued at $2,648,272.74. This trade represents a 6.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Shawn Cross also recently made the following trade(s):

• On Tuesday, April 21st, Shawn Cross sold 2,845 shares of Pacira BioSciences stock. The shares were sold at an average price of $25.01, for a total value of $71,153.45.
• On Wednesday, April 22nd, Shawn Cross sold 1,500 shares of Pacira BioSciences stock. The shares were sold at an average price of $25.01, for a total value of $37,515.00.

Pacira BioSciences Stock Performance

PCRX stock opened at $25.36 on Friday. The stock has a market capitalization of $1.03 billion, a PE ratio of 169.07 and a beta of 0.19. Pacira BioSciences, Inc. has a 12-month low of $18.80 and a 12-month high of $27.64. The company has a current ratio of 4.54, a quick ratio of 3.28 and a debt-to-equity ratio of 0.54. The stock’s 50 day simple moving average is $23.04 and its 200 day simple moving average is $23.08.

Pacira BioSciences (NASDAQ:PCRX) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.28). The business had revenue of $196.87 million during the quarter, compared to the consensus estimate of $201.93 million. Pacira BioSciences had a net margin of 0.97% and a return on equity of 10.39%. The business’s revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company posted $0.91 earnings per share. As a group, research analysts forecast that Pacira BioSciences, Inc. will post 1.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PCRX has been the topic of several analyst reports. Wall Street Zen cut Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Pacira BioSciences in a research report on Friday, January 9th. Zacks Research raised Pacira BioSciences from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Needham & Company LLC reissued a “buy” rating and set a $30.00 price target on shares of Pacira BioSciences in a report on Friday, January 9th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Pacira BioSciences in a report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Pacira BioSciences has an average rating of “Hold” and a consensus target price of $30.25.

Institutional Investors Weigh In On Pacira BioSciences

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Inspire Investing LLC increased its stake in shares of Pacira BioSciences by 3.2% in the 4th quarter. Inspire Investing LLC now owns 17,958 shares of the company’s stock worth $465,000 after purchasing an additional 556 shares in the last quarter. Hantz Financial Services Inc. increased its stake in shares of Pacira BioSciences by 175.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,132 shares of the company’s stock worth $29,000 after purchasing an additional 721 shares in the last quarter. State of Wyoming increased its stake in shares of Pacira BioSciences by 7.0% in the 4th quarter. State of Wyoming now owns 11,155 shares of the company’s stock worth $289,000 after purchasing an additional 728 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Pacira BioSciences by 8.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 10,604 shares of the company’s stock worth $259,000 after purchasing an additional 785 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Pacira BioSciences by 2.6% in the 4th quarter. Franklin Resources Inc. now owns 33,860 shares of the company’s stock worth $876,000 after purchasing an additional 846 shares in the last quarter. 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.