Shawn Cross Sells 1,500 Shares of Pacira BioSciences (NASDAQ:PCRX) Stock

Pacira BioSciences, Inc. (NASDAQ:PCRX) CFO Shawn Cross sold 1,500 shares of the stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $25.01, for a total transaction of $37,515.00. Following the completion of the transaction, the chief financial officer owned 105,341 shares in the company, valued at $2,634,578.41. This trade represents a 1.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $25.01, for a total transaction of $71,153.45.
• On Monday, April 20th, Shawn Cross sold 7,714 shares of Pacira BioSciences stock. The stock was sold at an average price of $25.14, for a total transaction of $193,929.96.

Pacira BioSciences Price Performance

Shares of NASDAQ:PCRX opened at $25.36 on Friday. The firm’s 50 day moving average price is $23.04 and its 200-day moving average price is $23.08. 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 twelve month low of $18.80 and a twelve month high of $27.64. The company has a quick ratio of 3.28, a current ratio of 4.54 and a debt-to-equity ratio of 0.54.

Pacira BioSciences (NASDAQ:PCRX) last released its earnings results 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 firm had revenue of $196.87 million during the quarter, compared to analysts’ expectations of $201.93 million. Pacira BioSciences had a return on equity of 10.39% and a net margin of 0.97%.The company’s revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.91 earnings per share. Equities research analysts expect that Pacira BioSciences, Inc. will post 1.85 EPS for the current year.

Institutional Investors Weigh In On Pacira BioSciences

Institutional investors have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. grew its holdings in Pacira BioSciences by 175.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,132 shares of the company’s stock valued at $29,000 after buying an additional 721 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Pacira BioSciences by 5,900.0% during the 4th 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 in the last quarter. Kestra Advisory Services LLC purchased a new stake in Pacira BioSciences during the 4th quarter valued at approximately $48,000. Eurizon Capital SGR S.p.A. purchased a new stake in Pacira BioSciences during the 4th quarter valued at approximately $51,000. Finally, Global Retirement Partners LLC grew its holdings in Pacira BioSciences by 479.4% during the 4th quarter. Global Retirement Partners LLC now owns 2,028 shares of the company’s stock valued at $52,000 after buying an additional 1,678 shares in the last quarter. 99.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PCRX. Needham & Company LLC reissued a “buy” rating and issued a $30.00 target price on shares of Pacira BioSciences in a report on Friday, January 9th. Zacks Research raised shares of Pacira BioSciences from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Wall Street Zen lowered shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. HC Wainwright reissued a “buy” rating and issued a $38.00 target price on shares of Pacira BioSciences in a report on Friday, January 9th. Finally, Barclays reduced 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. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $30.25.

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.