Lauren Riker Sells 6,115 Shares of Pacira BioSciences (NASDAQ:PCRX) Stock

Pacira BioSciences, Inc. (NASDAQ:PCRX) SVP Lauren Riker sold 6,115 shares of Pacira BioSciences 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 completion of the sale, the senior vice president owned 62,284 shares in the company, valued at $1,463,674. This trade represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pacira BioSciences Price Performance

NASDAQ PCRX opened at $22.99 on Friday. 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, Inc. has a 12-month low of $18.80 and a 12-month high of $27.64. The company has a market capitalization of $904.61 million, a PE ratio of 191.60 and a beta of 0.29. The firm’s 50 day moving average is $23.58 and its 200-day moving average is $23.27.

Pacira BioSciences (NASDAQ:PCRX) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.60 earnings per share (EPS) 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 business had revenue of $177.38 million during the quarter, compared to analyst estimates of $171.80 million. During the same quarter last year, the business earned $0.65 earnings per share. Pacira BioSciences’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities research analysts anticipate that Pacira BioSciences, Inc. will post 1.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pacira BioSciences

A number of institutional investors have recently added to or reduced their stakes in PCRX. Doma Perpetual Capital Management LLC increased its holdings in shares of Pacira BioSciences by 49.7% in the third quarter. Doma Perpetual Capital Management LLC now owns 2,701,324 shares of the company’s stock valued at $69,613,000 after purchasing an additional 897,255 shares during the last quarter. Impax Asset Management Group plc increased its holdings in shares of Pacira BioSciences by 25.0% in the fourth quarter. Impax Asset Management Group plc now owns 750,027 shares of the company’s stock valued at $19,411,000 after purchasing an additional 150,000 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Pacira BioSciences by 171.4% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 138,105 shares of the company’s stock valued at $3,574,000 after purchasing an additional 87,210 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Pacira BioSciences by 87.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 435,143 shares of the company’s stock valued at $11,262,000 after purchasing an additional 202,773 shares during the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of Pacira BioSciences in the fourth quarter valued at $7,976,000. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PCRX shares. Royal Bank Of Canada lifted their price objective on shares of Pacira BioSciences from $22.00 to $24.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Weiss Ratings upgraded shares of Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Wall Street Zen downgraded shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Needham & Company LLC boosted their target price on shares of Pacira BioSciences from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Finally, Barclays lowered their target price on shares of Pacira BioSciences from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, March 26th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $29.40.

Pacira BioSciences Company Profile

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.