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

Pacira BioSciences, Inc. (NASDAQ:PCRX)’s stock price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $23.57 and traded as low as $23.32. Pacira BioSciences shares last traded at $23.36, with a volume of 395,656 shares traded.

Analysts Set New Price Targets

PCRX has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Zacks Research upgraded shares of Pacira BioSciences from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Weiss Ratings upgraded shares of Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Royal Bank Of Canada lifted their price target on shares of Pacira BioSciences from $22.00 to $24.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Finally, Barclays lowered their price target on shares of Pacira BioSciences from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 26th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $29.40.

Pacira BioSciences Stock Down 1.6%

The company has a current ratio of 4.73, a quick ratio of 3.35 and a debt-to-equity ratio of 0.56. The firm’s 50 day simple moving average is $23.58 and its 200-day simple moving average is $23.27. The stock has a market capitalization of $904.66 million, a price-to-earnings ratio of 191.60 and a beta of 0.29.

Pacira BioSciences (NASDAQ:PCRX) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). Pacira BioSciences had a net margin of 0.70% and a return on equity of 10.24%. The firm had revenue of $177.38 million during the quarter, compared to the consensus estimate of $171.80 million. During the same period last year, the business earned $0.65 EPS. The business’s revenue was up 5.0% on a year-over-year basis. Equities analysts expect that Pacira BioSciences, Inc. will post 1.91 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Jonathan Slonin sold 3,261 shares of Pacira BioSciences stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $22.82, for a total value of $74,416.02. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Shawn Cross sold 12,941 shares of Pacira BioSciences stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $25.16, for a total transaction of $325,595.56. Following the completion of the transaction, the chief financial officer directly owned 105,341 shares of the company’s stock, valued at approximately $2,650,379.56. This trade represents a 10.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 34,376 shares of company stock valued at $846,312 in the last quarter. Company insiders own 6.40% of the company’s stock.

Institutional Trading of Pacira BioSciences

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

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.