Pacira BioSciences (NASDAQ:PCRX) Shares Gap Down – Here’s Why

Pacira BioSciences, Inc. (NASDAQ:PCRX) gapped down before the market opened on Friday . The stock had previously closed at $22.59, but opened at $21.14. Pacira BioSciences shares last traded at $21.8740, with a volume of 657,370 shares changing hands.

Analyst Ratings Changes

Several brokerages have weighed in on PCRX. HC Wainwright reissued a “buy” rating and set a $38.00 price objective on shares of Pacira BioSciences in a research note on Friday, January 9th. Barclays assumed coverage on Pacira BioSciences in a research note on Tuesday, December 9th. They issued an “equal weight” rating and a $27.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $30.00 target price on shares of Pacira BioSciences in a research report on Friday, January 9th. Wall Street Zen upgraded Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Pacira BioSciences in a research note 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 given a Sell rating to the stock. According to data from MarketBeat, Pacira BioSciences presently has an average rating of “Hold” and an average price target of $30.75.

Pacira BioSciences Stock Performance

The firm has a market capitalization of $937.90 million, a P/E ratio of 48.41 and a beta of 0.24. The company has a debt-to-equity ratio of 0.52, a current ratio of 5.26 and a quick ratio of 3.78. The firm has a 50-day moving average price of $22.74 and a two-hundred day moving average price of $23.87.

Insider Activity

In related news, SVP Lauren Riker sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $20.81, for a total value of $83,240.00. Following the completion of the sale, the senior vice president owned 52,313 shares in the company, valued at approximately $1,088,633.53. The trade was a 7.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Shawn Cross sold 9,104 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $25.14, for a total value of $228,874.56. Following the completion of the transaction, the chief financial officer directly owned 56,250 shares in the company, valued at approximately $1,414,125. This trade represents a 13.93% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 30,416 shares of company stock valued at $744,315. 6.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pacira BioSciences

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hussman Strategic Advisors Inc. acquired a new stake in Pacira BioSciences in the third quarter valued at approximately $2,706,000. Doma Perpetual Capital Management LLC lifted 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 valued at $69,613,000 after purchasing an additional 897,255 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Pacira BioSciences in the 3rd quarter worth $1,948,000. Impax Asset Management Group plc grew its stake in Pacira BioSciences by 27.7% during the 3rd quarter. Impax Asset Management Group plc now owns 600,027 shares of the company’s stock worth $15,463,000 after buying an additional 130,000 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in Pacira BioSciences by 77.2% during the 2nd quarter. American Century Companies Inc. now owns 1,182,513 shares of the company’s stock worth $28,262,000 after buying an additional 515,090 shares during the last quarter. 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.