Pacira BioSciences (NASDAQ:PCRX) Shares Gap Down After Insider Selling

Pacira BioSciences, Inc. (NASDAQ:PCRX)’s share price gapped down prior to trading on Wednesday following insider selling activity. The stock had previously closed at $22.74, but opened at $21.71. Pacira BioSciences shares last traded at $22.25, with a volume of 111,847 shares traded.

Specifically, SVP Lauren Riker sold 3,970 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $28.72, for a total value of $114,018.40. Following the completion of the transaction, the senior vice president now directly owns 38,075 shares in the company, valued at $1,093,514. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Lauren Riker sold 3,970 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $28.72, for a total value of $114,018.40. Following the completion of the transaction, the senior vice president now directly owns 38,075 shares in the company, valued at $1,093,514. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan Slonin sold 2,836 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $28.25, for a total value of $80,117.00. Following the sale, the insider now owns 95,557 shares of the company’s stock, valued at $2,699,485.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,150 shares of company stock worth $602,170. 6.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PCRX has been the subject of several research analyst reports. JPMorgan Chase & Co. initiated coverage on Pacira BioSciences in a research note on Thursday, March 7th. They set an “overweight” rating and a $45.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and issued a $57.00 target price on shares of Pacira BioSciences in a research report on Tuesday. Barclays downgraded Pacira BioSciences from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $38.00 to $25.00 in a research report on Wednesday. Piper Sandler reaffirmed an “overweight” rating and issued a $42.00 target price on shares of Pacira BioSciences in a research report on Wednesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $43.00 target price on shares of Pacira BioSciences in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $46.10.

Pacira BioSciences Trading Down 4.7 %

The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.78 and a current ratio of 5.81. The business has a fifty day simple moving average of $28.53 and a 200 day simple moving average of $29.67. The company has a market cap of $1.01 billion, a P/E ratio of 15.15 and a beta of 0.88.

Pacira BioSciences (NASDAQ:PCRX) last released its earnings results on Tuesday, May 7th. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). The firm had revenue of $167.12 million for the quarter, compared to the consensus estimate of $165.43 million. Pacira BioSciences had a return on equity of 12.98% and a net margin of 10.34%. Analysts anticipate that Pacira BioSciences, Inc. will post 2.13 earnings per share for the current fiscal year.

Institutional Trading of Pacira BioSciences

Large investors have recently added to or reduced their stakes in the business. ICA Group Wealth Management LLC acquired a new stake in Pacira BioSciences in the 4th quarter valued at approximately $30,000. GAMMA Investing LLC increased its position in shares of Pacira BioSciences by 229.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,338 shares of the company’s stock valued at $38,000 after purchasing an additional 932 shares during the period. Park Place Capital Corp acquired a new position in shares of Pacira BioSciences during the 2nd quarter valued at $46,000. Quadrant Capital Group LLC increased its position in shares of Pacira BioSciences by 61.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,324 shares of the company’s stock valued at $78,000 after purchasing an additional 885 shares during the period. Finally, Cape Investment Advisory Inc. bought a new stake in shares of Pacira BioSciences during the 4th quarter worth $97,000. 99.73% of the stock is currently owned by institutional investors and hedge funds.

About Pacira BioSciences

Pacira BioSciences, Inc engages in the development, manufacture, marketing, distribution, and sale of non-opioid pain management and regenerative health solutions to healthcare practitioners in the United States. The company offers EXPAREL, a bupivacaine liposome injectable suspension; ZILRETTA, a triamcinolone acetonide extended-release injectable suspension; and iovera system, a non-opioid handheld cryoanalgesia device used to produce controlled doses of cold temperature to targeted nerves.