Insider Selling: Pacira BioSciences (NASDAQ:PCRX) Insider Sells 3,261 Shares of Stock

Pacira BioSciences, Inc. (NASDAQ:PCRX) insider Jonathan Slonin sold 3,261 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $22.82, for a total value of $74,416.02. Following the transaction, the insider directly owned 223,640 shares in the company, valued at $5,103,464.80. The trade was a 1.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Pacira BioSciences Stock Up 2.5%

Shares of Pacira BioSciences stock traded up $0.55 during trading hours on Thursday, reaching $22.57. The company’s stock had a trading volume of 647,582 shares, compared to its average volume of 927,843. Pacira BioSciences, Inc. has a one year low of $18.80 and a one year high of $27.64. The company has a market capitalization of $913.86 million, a P/E ratio of 150.47 and a beta of 0.21. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.28 and a current ratio of 4.54. The stock’s fifty day simple moving average is $21.79 and its two-hundred day simple moving average is $23.56.

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 price target on shares of Pacira BioSciences in a research report on Friday, January 9th. Zacks Research lowered shares of Pacira BioSciences from a “hold” rating to a “strong sell” rating in a research report on Monday, March 9th. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price target on shares of Pacira BioSciences in a report on Friday, January 9th. Wall Street Zen lowered Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Finally, Barclays initiated coverage on shares of Pacira BioSciences in a research note on Tuesday, December 9th. They issued an “equal weight” rating and a $27.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Pacira BioSciences currently has an average rating of “Hold” and an average target price of $30.75.

Hedge Funds Weigh In On Pacira BioSciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vident Advisory LLC increased its position in shares of Pacira BioSciences by 15.0% in the fourth quarter. Vident Advisory LLC now owns 23,571 shares of the company’s stock worth $610,000 after purchasing an additional 3,075 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Pacira BioSciences by 1.9% in the 4th quarter. Empowered Funds LLC now owns 227,605 shares of the company’s stock worth $5,890,000 after acquiring an additional 4,167 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Pacira BioSciences in the 4th quarter valued at $2,146,000. Millennium Management LLC grew its holdings in shares of Pacira BioSciences by 73.3% during the 4th quarter. Millennium Management LLC now owns 122,606 shares of the company’s stock valued at $3,173,000 after purchasing an additional 51,848 shares during the last quarter. Finally, Inspire Investing LLC grew its holdings in shares of Pacira BioSciences by 3.2% during the 4th quarter. Inspire Investing LLC now owns 17,958 shares of the company’s stock valued at $465,000 after purchasing an additional 556 shares during the last quarter. 99.73% of the stock is currently owned by hedge funds and other institutional investors.

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.