Pacira BioSciences (NASDAQ:PCRX) Stock Crosses Below 50 Day Moving Average – Should You Sell?

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) passed below its 50 day moving average during trading on Thursday . The stock has a 50 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.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PCRX shares. Wall Street Zen cut shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Needham & Company LLC boosted their target price on shares of Pacira BioSciences from $30.00 to $32.00 and gave the company a “buy” rating in a report on Friday, May 1st. Royal Bank Of Canada boosted their target price on shares of Pacira BioSciences from $22.00 to $24.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Zacks Research upgraded shares of Pacira BioSciences from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, Weiss Ratings upgraded shares of Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. 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 company’s stock. According to MarketBeat, Pacira BioSciences currently has an average rating of “Hold” and an average price target of $29.40.

Pacira BioSciences Price Performance

The company has a quick ratio of 3.35, a current ratio of 4.73 and a debt-to-equity ratio of 0.56. The firm has a fifty day moving average price of $23.57 and a two-hundred day moving average price of $23.27. The stock has a market capitalization of $919.22 million, a P/E ratio of 194.68 and a beta of 0.29.

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

Insider Buying and Selling at Pacira BioSciences

In other news, CFO Shawn Cross sold 12,941 shares of the firm’s stock in a transaction on Thursday, April 23rd. The stock was 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 in the company, valued at $2,650,379.56. This trade represents a 10.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Slonin sold 3,261 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $22.82, for a total transaction of $74,416.02. Following the sale, the insider owned 223,640 shares in the company, valued at approximately $5,103,464.80. The trade was a 1.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 28,261 shares of company stock valued at $702,610 over the last 90 days. Corporate insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Pacira BioSciences

A number of institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its holdings in shares of Pacira BioSciences by 15.1% during the first quarter. PNC Financial Services Group Inc. now owns 3,751 shares of the company’s stock valued at $85,000 after buying an additional 492 shares during the last quarter. Inspire Investing LLC lifted its holdings in shares of Pacira BioSciences by 3.2% during the fourth quarter. Inspire Investing LLC now owns 17,958 shares of the company’s stock valued at $465,000 after purchasing an additional 556 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Pacira BioSciences by 175.4% during the third quarter. Hantz Financial Services Inc. now owns 1,132 shares of the company’s stock valued at $29,000 after purchasing an additional 721 shares in the last quarter. State of Wyoming lifted its holdings in shares of Pacira BioSciences by 7.0% during the fourth quarter. State of Wyoming now owns 11,155 shares of the company’s stock valued at $289,000 after purchasing an additional 728 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Pacira BioSciences by 8.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 10,604 shares of the company’s stock valued at $259,000 after purchasing an additional 785 shares in the last quarter. Hedge funds and other 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.