Pacira BioSciences (NASDAQ:PCRX) Insider Jonathan Slonin Sells 3,040 Shares

Pacira BioSciences, Inc. (NASDAQ:PCRX) insider Jonathan Slonin sold 3,040 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $23.23, for a total value of $70,619.20. Following the transaction, the insider directly owned 216,384 shares in the company, valued at approximately $5,026,600.32. This represents a 1.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pacira BioSciences Stock Up 3.3%

PCRX opened at $24.00 on Wednesday. The business has a 50 day moving average price of $24.82 and a two-hundred day moving average price of $23.60. The company has a quick ratio of 3.94, a current ratio of 5.04 and a debt-to-equity ratio of 0.54. The company has a market cap of $956.64 million, a PE ratio of 68.57 and a beta of 0.27. Pacira BioSciences, Inc. has a 52 week low of $18.80 and a 52 week high of $27.66.

Pacira BioSciences (NASDAQ:PCRX) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.08. The company had revenue of $192.40 million during the quarter, compared to analysts’ expectations of $191.06 million. Pacira BioSciences had a return on equity of 9.68% and a net margin of 1.96%.The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period last year, the firm earned $0.74 EPS. As a group, research analysts anticipate that Pacira BioSciences, Inc. will post 1.98 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on PCRX. Weiss Ratings reiterated a “sell (d+)” rating on shares of Pacira BioSciences in a research report on Monday. Needham & Company LLC upped their price objective on shares of Pacira BioSciences from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Royal Bank Of Canada raised their target price on shares of Pacira BioSciences from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 5th. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 target price on shares of Pacira BioSciences in a report on Wednesday, July 1st. Finally, Wall Street Zen lowered shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Pacira BioSciences currently has a consensus rating of “Hold” and a consensus target price of $30.20.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in Pacira BioSciences by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,163,473 shares of the company’s stock worth $55,751,000 after acquiring an additional 11,831 shares during the period. Balyasny Asset Management L.P. lifted its stake in shares of Pacira BioSciences by 36.1% during the 2nd quarter. Balyasny Asset Management L.P. now owns 2,130,733 shares of the company’s stock worth $50,925,000 after purchasing an additional 565,288 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Pacira BioSciences by 49.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company’s stock worth $27,454,000 after purchasing an additional 367,869 shares during the period. Impax Asset Management Group plc boosted its holdings in shares of Pacira BioSciences by 25.0% during the fourth quarter. Impax Asset Management Group plc now owns 750,027 shares of the company’s stock worth $19,411,000 after purchasing an additional 150,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Pacira BioSciences by 7.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 676,352 shares of the company’s stock worth $17,504,000 after purchasing an additional 49,079 shares during the last quarter. Institutional investors and hedge funds own 99.73% of the company’s stock.

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.