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

Pacira BioSciences, Inc. (NASDAQ:PCRX)’s stock price gapped down prior to trading on Wednesday after an insider sold shares in the company. 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 trading hands.

Specifically, insider Kristen Williams sold 7,452 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $28.38, for a total transaction of $211,487.76. Following the completion of the sale, the insider now directly owns 102,912 shares of the company’s stock, valued at approximately $2,920,642.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Kristen Williams sold 7,452 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $28.38, for a total transaction of $211,487.76. Following the completion of the sale, the insider now directly owns 102,912 shares of the company’s stock, valued at approximately $2,920,642.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Daryl Gaugler sold 1,000 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $28.38, for a total transaction of $28,380.00. Following the sale, the chief operating officer now directly owns 116,040 shares of the company’s stock, valued at $3,293,215.20. The disclosure for this sale can be found here. In the last three months, insiders sold 21,150 shares of company stock valued at $602,170. Company insiders own 6.40% of the company’s stock.

Analyst Upgrades and Downgrades

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

Pacira BioSciences Stock Down 4.7 %

The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 15.15 and a beta of 0.88. 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’s 50-day moving average is $28.53 and its 200-day moving average is $29.67.

Pacira BioSciences (NASDAQ:PCRX) last announced its earnings results on Tuesday, May 7th. The company reported $0.42 earnings per share (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 analyst estimates of $165.43 million. Pacira BioSciences had a return on equity of 12.98% and a net margin of 10.34%. On average, equities analysts predict that Pacira BioSciences, Inc. will post 2.13 EPS for the current year.

Institutional Investors Weigh In On Pacira BioSciences

A number of hedge funds have recently added to or reduced their stakes in the stock. Texas Permanent School Fund Corp grew its holdings in Pacira BioSciences by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 40,642 shares of the company’s stock worth $1,188,000 after acquiring an additional 543 shares during the last quarter. Illinois Municipal Retirement Fund grew its holdings in Pacira BioSciences by 2.2% during the 4th quarter. Illinois Municipal Retirement Fund now owns 26,964 shares of the company’s stock worth $910,000 after acquiring an additional 591 shares during the last quarter. Duality Advisers LP grew its holdings in Pacira BioSciences by 1.8% during the 1st quarter. Duality Advisers LP now owns 34,784 shares of the company’s stock worth $1,016,000 after acquiring an additional 605 shares during the last quarter. Inspire Investing LLC grew its holdings in Pacira BioSciences by 5.9% during the 1st quarter. Inspire Investing LLC now owns 12,131 shares of the company’s stock worth $354,000 after acquiring an additional 675 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in Pacira BioSciences by 61.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,324 shares of the company’s stock worth $78,000 after acquiring an additional 885 shares during the last quarter. Institutional investors own 99.73% of the company’s stock.

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.