Pacira BioSciences (NASDAQ:PCRX) Shares Gap Up to $26.51

Pacira BioSciences, Inc. (NASDAQ:PCRX) gapped up before the market opened on Wednesday . The stock had previously closed at $26.51, but opened at $28.90. Pacira BioSciences shares last traded at $29.46, with a volume of 611,203 shares trading hands.

Analyst Ratings Changes

PCRX has been the topic of a number of research analyst reports. Needham & Company LLC reduced their price objective on shares of Pacira BioSciences from $45.00 to $43.00 and set a “buy” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. initiated coverage on shares of Pacira BioSciences in a report on Thursday, March 7th. They set an “overweight” rating and a $45.00 target price on the stock. Royal Bank of Canada dropped their target price on shares of Pacira BioSciences from $53.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. HC Wainwright reissued a “buy” rating and set a $57.00 target price on shares of Pacira BioSciences in a report on Wednesday. Finally, Barclays dropped their target price on shares of Pacira BioSciences from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $47.40.

Pacira BioSciences Stock Performance

The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.17 and a current ratio of 5.24. The stock’s fifty day moving average is $28.28 and its two-hundred day moving average is $29.51. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 36.86 and a beta of 0.77.

Pacira BioSciences (NASDAQ:PCRX) last released its earnings results on Thursday, February 29th. The company reported $0.71 EPS for the quarter, meeting the consensus estimate of $0.71. The firm had revenue of $181.24 million for the quarter, compared to analysts’ expectations of $180.60 million. Pacira BioSciences had a net margin of 6.22% and a return on equity of 12.81%. On average, analysts expect that Pacira BioSciences, Inc. will post 2.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Pacira BioSciences

In other Pacira BioSciences news, Director Gary W. Pace sold 90,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $30.60, for a total transaction of $2,754,000.00. Following the transaction, the director now owns 22,127 shares of the company’s stock, valued at approximately $677,086.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Gary W. Pace sold 90,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $30.60, for a total transaction of $2,754,000.00. Following the completion of the transaction, the director now owns 22,127 shares in the company, valued at approximately $677,086.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Gary W. Pace sold 1,066 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $29.67, for a total transaction of $31,628.22. Following the transaction, the director now owns 140,384 shares of the company’s stock, valued at approximately $4,165,193.28. The disclosure for this sale can be found here. 6.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pacira BioSciences

Several large investors have recently made changes to their positions in the business. ICA Group Wealth Management LLC acquired a new stake in shares of Pacira BioSciences in the 4th quarter valued at $30,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Pacira BioSciences by 96.8% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,185 shares of the company’s stock valued at $36,000 after purchasing an additional 583 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Pacira BioSciences by 310.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,001 shares of the company’s stock valued at $61,000 after purchasing an additional 1,514 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Pacira BioSciences by 61.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,324 shares of the company’s stock valued at $78,000 after purchasing an additional 885 shares in the last quarter. Finally, Cape Investment Advisory Inc. acquired a new stake in shares of Pacira BioSciences in the 4th quarter valued at $97,000. Institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Company Profile

Pacira BioSciences, Inc engages in the development, manufacture, marketing, distribution, and sale of non-opioid pain management and regenerative health solutions to healthcare practitioners 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 to targeted nerves.