Insider Selling: Pacira BioSciences (NASDAQ:PCRX) SVP Sells $143,702.50 in Stock

Pacira BioSciences, Inc. (NASDAQ:PCRX) SVP Lauren Riker sold 6,115 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $23.50, for a total transaction of $143,702.50. Following the transaction, the senior vice president directly owned 62,284 shares of the company’s stock, valued at $1,463,674. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pacira BioSciences Price Performance

Pacira BioSciences stock opened at $22.99 on Monday. Pacira BioSciences, Inc. has a twelve month low of $18.80 and a twelve month high of $27.64. The firm has a 50 day moving average price of $23.58 and a 200-day moving average price of $23.27. The company has a market capitalization of $904.66 million, a P/E ratio of 191.60 and a beta of 0.29. The company has a quick ratio of 3.35, a current ratio of 4.73 and a debt-to-equity ratio of 0.56.

Pacira BioSciences (NASDAQ:PCRX) last released its earnings results on Thursday, April 30th. The company reported $0.60 earnings per share 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 company had revenue of $177.38 million for the quarter, compared to the consensus estimate of $171.80 million. During the same period in the prior year, the company earned $0.65 earnings per share. The firm’s revenue was up 5.0% on a year-over-year basis. As a group, equities analysts predict that Pacira BioSciences, Inc. will post 1.91 EPS for the current year.

Institutional Trading of Pacira BioSciences

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

Analyst Ratings Changes

PCRX has been the topic of a number of recent research reports. 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. Barclays dropped 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. Wall Street Zen cut shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research note 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. Finally, Needham & Company LLC upped their price target on shares of Pacira BioSciences from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $29.40.

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.