Pacira BioSciences (NASDAQ:PCRX) Trading Down 7.9% – Here’s What Happened

Pacira BioSciences, Inc. (NASDAQ:PCRX)’s share price was down 7.9% on Wednesday . The company traded as low as $25.21 and last traded at $25.43. 181,670 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 686,524 shares. The stock had previously closed at $27.62.

Analyst Upgrades and Downgrades

PCRX has been the topic of several analyst reports. Royal Bank Of Canada boosted their price objective on Pacira BioSciences from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Weiss Ratings upgraded Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. HC Wainwright reaffirmed a “buy” rating and set a $38.00 price objective on shares of Pacira BioSciences in a research note on Wednesday, July 1st. Zacks Research raised shares of Pacira BioSciences from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, Needham & Company LLC lifted their price target on shares of Pacira BioSciences from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Pacira BioSciences has a consensus rating of “Hold” and an average target price of $29.80.

Pacira BioSciences Price Performance

The firm has a fifty day moving average of $24.60 and a two-hundred day moving average of $23.32. The stock has a market capitalization of $969.74 million, a P/E ratio of 205.77 and a beta of 0.27. The company has a debt-to-equity ratio of 0.56, a current ratio of 4.73 and a quick ratio of 3.35.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. Pacira BioSciences had a return on equity of 10.24% and a net margin of 0.70%.The company had revenue of $192.40 million for the quarter, compared to the consensus estimate of $191.06 million. During the same quarter last year, the company earned $0.74 earnings per share. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, analysts predict that Pacira BioSciences, Inc. will post 1.94 EPS for the current year.

Insider Buying and Selling at Pacira BioSciences

In other news, SVP Lauren Riker sold 6,115 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $23.50, for a total value of $143,702.50. Following the completion of the transaction, the senior vice president owned 62,284 shares of the company’s stock, valued at $1,463,674. The trade was a 8.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Pacira BioSciences

A number of large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. increased its holdings in shares of Pacira BioSciences by 15.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,751 shares of the company’s stock valued at $85,000 after purchasing an additional 492 shares during the last quarter. Inspire Investing LLC raised 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 worth $465,000 after acquiring an additional 556 shares during the period. State of Wyoming boosted its position in shares of Pacira BioSciences by 7.0% during the 4th quarter. State of Wyoming now owns 11,155 shares of the company’s stock valued at $289,000 after acquiring an additional 728 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Pacira BioSciences by 8.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 10,604 shares of the company’s stock valued at $259,000 after purchasing an additional 785 shares during the period. Finally, Franklin Resources Inc. grew its holdings in shares of Pacira BioSciences by 2.6% in the fourth quarter. Franklin Resources Inc. now owns 33,860 shares of the company’s stock valued at $876,000 after purchasing an additional 846 shares during the period. Hedge funds and other 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.