Pacira BioSciences (NASDAQ:PCRX) Stock Price Down 6.9% – Should You Sell?

Pacira BioSciences, Inc. (NASDAQ:PCRX)’s stock price traded down 6.9% during mid-day trading on Thursday . The stock traded as low as $20.83 and last traded at $20.6950. 219,871 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 944,002 shares. The stock had previously closed at $22.24.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PCRX shares. 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. Barclays started coverage on shares of Pacira BioSciences in a report on Tuesday, December 9th. They set an “equal weight” rating and a $27.00 target price for the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Pacira BioSciences in a research note on Monday, December 29th. Wall Street Zen raised shares of Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $38.00 target price on shares of Pacira BioSciences in a report on Friday, January 9th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $30.75.

Pacira BioSciences Trading Down 5.3%

The firm has a market cap of $906.24 million, a P/E ratio of 46.79 and a beta of 0.22. The stock has a 50 day simple moving average of $24.54 and a 200-day simple moving average of $24.20. The company has a current ratio of 5.26, a quick ratio of 3.78 and a debt-to-equity ratio of 0.52.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Pacira BioSciences had a net margin of 2.99% and a return on equity of 12.82%. The business had revenue of $179.52 million during the quarter, compared to analysts’ expectations of $182.86 million. During the same period last year, the company posted $0.79 EPS. The business’s revenue was up 6.5% on a year-over-year basis. On average, equities research analysts expect that Pacira BioSciences, Inc. will post 2.41 EPS for the current fiscal year.

Insider Buying and Selling

In other Pacira BioSciences news, CFO Shawn Cross sold 15,896 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $25.03, for a total transaction of $397,876.88. Following the sale, the chief financial officer directly owned 56,250 shares of the company’s stock, valued at $1,407,937.50. The trade was a 22.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jonathan Slonin sold 3,960 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $24.09, for a total value of $95,396.40. Following the completion of the sale, the insider directly owned 178,367 shares of the company’s stock, valued at $4,296,861.03. The trade was a 2.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 34,336 shares of company stock worth $851,868. Corporate insiders own 6.40% of the company’s stock.

Institutional Trading of Pacira BioSciences

Several institutional investors have recently added to or reduced their stakes in the company. Doma Perpetual Capital Management LLC increased its holdings in Pacira BioSciences by 49.7% during the 3rd quarter. Doma Perpetual Capital Management LLC now owns 2,701,324 shares of the company’s stock worth $69,613,000 after purchasing an additional 897,255 shares during the period. Dimensional Fund Advisors LP lifted its stake in Pacira BioSciences by 0.5% in the third 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. grew its holdings in 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 acquiring an additional 565,288 shares in the last quarter. American Century Companies Inc. increased its position in Pacira BioSciences by 16.6% during the 3rd quarter. American Century Companies Inc. now owns 1,378,513 shares of the company’s stock valued at $35,524,000 after purchasing an additional 196,000 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Pacira BioSciences by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,143,190 shares of the company’s stock worth $27,326,000 after purchasing an additional 5,658 shares during the period. Institutional investors own 99.73% of the company’s stock.

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.