Insider Selling: Pacira BioSciences, Inc. (NASDAQ:PCRX) CEO Sells 13,828 Shares of Stock

Pacira BioSciences, Inc. (NASDAQ:PCRX – Get Rating) CEO David M. Stack sold 13,828 shares of Pacira BioSciences stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $59.85, for a total value of $827,605.80. Following the completion of the transaction, the chief executive officer now owns 142,251 shares of the company’s stock, valued at approximately $8,513,722.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Shares of Pacira BioSciences stock traded down $2.95 on Wednesday, hitting $59.39. 532,588 shares of the company traded hands, compared to its average volume of 525,248. The stock’s 50 day moving average price is $68.89 and its 200-day moving average price is $65.34. The company has a current ratio of 2.19, a quick ratio of 1.85 and a debt-to-equity ratio of 1.03. Pacira BioSciences, Inc. has a 52 week low of $45.05 and a 52 week high of $82.16. The company has a market cap of $2.70 billion, a PE ratio of 70.70 and a beta of 0.89.

Pacira BioSciences (NASDAQ:PCRX – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.19). The company had revenue of $157.99 million for the quarter, compared to the consensus estimate of $155.08 million. Pacira BioSciences had a net margin of 6.62% and a return on equity of 15.17%. The business’s revenue was up 32.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.37 EPS. As a group, research analysts anticipate that Pacira BioSciences, Inc. will post 2.88 EPS for the current fiscal year.

Large investors have recently modified their holdings of the stock. Frontier Capital Management Co. LLC raised its stake in Pacira BioSciences by 17.1% in the fourth quarter. Frontier Capital Management Co. LLC now owns 929,871 shares of the company’s stock worth $55,950,000 after buying an additional 135,927 shares in the last quarter. Rafferty Asset Management LLC raised its stake in Pacira BioSciences by 4.4% in the fourth quarter. Rafferty Asset Management LLC now owns 7,454 shares of the company’s stock worth $449,000 after buying an additional 312 shares in the last quarter. Rice Hall James & Associates LLC grew its holdings in Pacira BioSciences by 25.8% in the fourth quarter. Rice Hall James & Associates LLC now owns 420,205 shares of the company’s stock worth $25,284,000 after purchasing an additional 86,256 shares during the last quarter. Rhumbline Advisers grew its holdings in Pacira BioSciences by 1.0% in the fourth quarter. Rhumbline Advisers now owns 110,427 shares of the company’s stock worth $6,644,000 after purchasing an additional 1,130 shares during the last quarter. Finally, Gradient Investments LLC grew its holdings in Pacira BioSciences by 68.0% in the fourth quarter. Gradient Investments LLC now owns 140,173 shares of the company’s stock worth $8,434,000 after purchasing an additional 56,725 shares during the last quarter.

Several analysts have issued reports on the stock. StockNews.com assumed coverage on shares of Pacira BioSciences in a research note on Thursday, March 31st. They issued a “hold” rating for the company. TheStreet downgraded shares of Pacira BioSciences from a “b-” rating to a “c” rating in a research note on Thursday, February 24th. Northland Securities raised their price objective on shares of Pacira BioSciences from $61.00 to $67.00 in a research note on Tuesday, March 1st. HC Wainwright raised their price objective on shares of Pacira BioSciences from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, February 25th. Finally, Wedbush reissued a “buy” rating and issued a $94.00 price objective (down previously from $97.00) on shares of Pacira BioSciences in a research note on Saturday, February 26th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $80.63.

Pacira BioSciences Company Profile (Get Rating)

Pacira BioSciences, Inc provides non-opioid pain management and regenerative health solutions for healthcare practitioners and their patients 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 only to targeted nerves.

Further Reading

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