Pacira BioSciences, Inc. (NASDAQ:PCRX) Director Purchases $20,034.00 in Stock

Pacira BioSciences, Inc. (NASDAQ:PCRX) Director Marcelo Bigal purchased 1,512 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was acquired at an average cost of $13.25 per share, with a total value of $20,034.00. Following the completion of the acquisition, the director now directly owns 10,142 shares in the company, valued at approximately $134,381.50. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Pacira BioSciences Stock Down 0.3 %

Pacira BioSciences stock opened at $13.85 on Thursday. The firm has a market cap of $644.66 million, a PE ratio of 9.69 and a beta of 0.88. The company has a debt-to-equity ratio of 0.67, a quick ratio of 5.70 and a current ratio of 6.82. The firm’s 50 day moving average price is $21.38 and its two-hundred day moving average price is $26.33. Pacira BioSciences, Inc. has a twelve month low of $11.16 and a twelve month high of $38.23.

Pacira BioSciences (NASDAQ:PCRX) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.11. The firm had revenue of $178.02 million for the quarter, compared to analyst estimates of $173.31 million. Pacira BioSciences had a net margin of 9.21% and a return on equity of 13.22%. On average, research analysts predict that Pacira BioSciences, Inc. will post 2.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PCRX. abrdn plc increased its stake in shares of Pacira BioSciences by 14.3% during the 4th quarter. abrdn plc now owns 448,691 shares of the company’s stock worth $15,139,000 after purchasing an additional 56,081 shares during the last quarter. Jane Street Group LLC increased its stake in shares of Pacira BioSciences by 1,780.2% during the 1st quarter. Jane Street Group LLC now owns 187,531 shares of the company’s stock worth $5,480,000 after purchasing an additional 177,557 shares during the last quarter. Cobalt Capital Management Inc. acquired a new position in shares of Pacira BioSciences during the 4th quarter worth $3,037,000. National Bank of Canada FI acquired a new position in shares of Pacira BioSciences during the 4th quarter worth $966,000. Finally, Bridge City Capital LLC acquired a new position in shares of Pacira BioSciences during the 1st quarter worth $1,810,000. Institutional investors and hedge funds own 99.73% of the company’s stock.

Wall Street Analyst Weigh In

PCRX has been the subject of several research reports. Royal Bank of Canada lowered shares of Pacira BioSciences from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $37.00 to $14.00 in a report on Monday, August 12th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $10.00 price objective (down from $45.00) on shares of Pacira BioSciences in a research report on Monday, August 12th. HC Wainwright cut their price objective on shares of Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Raymond James downgraded shares of Pacira BioSciences from an “outperform” rating to a “market perform” rating in a research report on Monday, August 12th. Finally, Truist Financial downgraded shares of Pacira BioSciences from a “buy” rating to a “sell” rating and dropped their target price for the stock from $30.00 to $8.00 in a report on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Pacira BioSciences has an average rating of “Hold” and an average price target of $24.78.

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.