Insider Selling: Pacira BioSciences (NASDAQ:PCRX) Insider Sells 3,040 Shares of Stock

Pacira BioSciences, Inc. (NASDAQ:PCRX) insider Jonathan Slonin sold 3,040 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $23.23, for a total value of $70,619.20. Following the sale, the insider directly owned 216,384 shares of the company’s stock, valued at $5,026,600.32. This represents a 1.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pacira BioSciences Stock Performance

Shares of PCRX traded up $0.76 during trading hours on Tuesday, hitting $24.00. The company had a trading volume of 443,567 shares, compared to its average volume of 697,033. The firm has a market cap of $956.69 million, a price-to-earnings ratio of 68.57 and a beta of 0.27. The business has a fifty day moving average of $24.81 and a 200-day moving average of $23.58. Pacira BioSciences, Inc. has a 12 month low of $18.80 and a 12 month high of $27.66. 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 announced its earnings results on Tuesday, August 4th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.65 by $0.08. Pacira BioSciences had a net margin of 1.96% and a return on equity of 9.68%. The business had revenue of $192.40 million during the quarter, compared to the consensus estimate of $191.06 million. During the same quarter in the previous year, the firm posted $0.74 EPS. Pacira BioSciences’s revenue was up 6.2% compared to the same quarter last year. Equities analysts anticipate that Pacira BioSciences, Inc. will post 1.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Weiss Ratings upgraded Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Wall Street Zen downgraded Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Needham & Company LLC upped their price objective on Pacira BioSciences from $32.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. HC Wainwright reissued a “buy” rating and set a $38.00 target price on shares of Pacira BioSciences in a report on Wednesday, July 1st. Finally, Royal Bank Of Canada boosted their target price on shares of Pacira BioSciences from $24.00 to $25.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 5th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Pacira BioSciences has a consensus rating of “Hold” and a consensus price target of $30.20.

Hedge Funds Weigh In On Pacira BioSciences

Hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC bought a new stake in shares of Pacira BioSciences during the 2nd quarter valued at $5,076,000. Caitlin John LLC acquired a new stake in shares of Pacira BioSciences during the 2nd quarter worth $120,000. Public Employees Retirement System of Ohio bought a new position in shares of Pacira BioSciences in the second quarter worth $1,050,000. Bank of America Corp DE bought a new position in shares of Pacira BioSciences in the second quarter worth $6,089,000. Finally, Man Group plc acquired a new position in Pacira BioSciences in the second quarter valued at about $3,181,000. Institutional investors 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.