Pacira BioSciences (NASDAQ:PCRX) Stock Price Up 4.6% – What’s Next?

Pacira BioSciences, Inc. (NASDAQ:PCRX)’s stock price traded up 4.6% during trading on Tuesday . The company traded as high as $22.19 and last traded at $22.2490. 147,730 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 946,530 shares. The stock had previously closed at $21.28.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PCRX shares. Barclays began coverage on shares of 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. Weiss Ratings reiterated a “sell (d+)” rating on shares of Pacira BioSciences in a research note on Monday, December 29th. HC Wainwright reissued a “buy” rating and issued a $38.00 price objective on shares of Pacira BioSciences in a research note on Friday, January 9th. Wall Street Zen lowered Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $30.00 price target on shares of Pacira BioSciences in a report on Friday, January 9th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $30.75.

Pacira BioSciences Price Performance

The stock has a market cap of $898.88 million, a price-to-earnings ratio of 148.00 and a beta of 0.21. The stock has a fifty day simple moving average of $22.56 and a 200-day simple moving average of $23.81. The company has a current ratio of 4.54, a quick ratio of 3.28 and a debt-to-equity ratio of 0.54.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.28). The business had revenue of $196.87 million for the quarter, compared to analyst estimates of $201.93 million. Pacira BioSciences had a return on equity of 10.39% and a net margin of 0.97%.The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.91 earnings per share. As a group, equities research analysts expect that Pacira BioSciences, Inc. will post 2.41 EPS for the current year.

Insider Buying and Selling at Pacira BioSciences

In other news, CFO Shawn Cross sold 9,104 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $25.14, for a total transaction of $228,874.56. Following the transaction, the chief financial officer owned 56,250 shares in the company, valued at approximately $1,414,125. The trade was a 13.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Lauren Riker sold 4,000 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $20.81, for a total transaction of $83,240.00. Following the completion of the sale, the senior vice president owned 52,313 shares of the company’s stock, valued at approximately $1,088,633.53. The trade was a 7.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,416 shares of company stock worth $744,315 over the last 90 days. Company insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Doma Perpetual Capital Management LLC boosted its position 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 acquiring an additional 897,255 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Pacira BioSciences by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,163,473 shares of the company’s stock valued at $55,751,000 after purchasing an additional 11,831 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in Pacira BioSciences by 36.1% during the second quarter. Balyasny Asset Management L.P. now owns 2,130,733 shares of the company’s stock valued at $50,925,000 after purchasing an additional 565,288 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Pacira BioSciences by 16.6% in the 3rd quarter. American Century Companies Inc. now owns 1,378,513 shares of the company’s stock valued at $35,524,000 after purchasing an additional 196,000 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Pacira BioSciences by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,143,190 shares of the company’s stock worth $27,326,000 after buying an additional 5,658 shares in the last quarter. 99.73% of the stock is currently owned by institutional investors and hedge funds.

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.