Pacira BioSciences (NASDAQ:PCRX) Shares Gap Down – Time to Sell?

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) gapped down before the market opened on Friday . The stock had previously closed at $26.02, but opened at $24.64. Pacira BioSciences shares last traded at $23.6870, with a volume of 273,929 shares.

Wall Street Analysts Forecast Growth

PCRX has been the subject of several research reports. Needham & Company LLC reissued a “buy” rating and set a $30.00 price objective on shares of Pacira BioSciences in a report on Friday. Truist Financial cut their price target on Pacira BioSciences from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Wall Street Zen raised Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Pacira BioSciences in a report on Monday, December 29th. Finally, Barclays initiated coverage on shares of Pacira BioSciences in a research report on Tuesday, December 9th. They set an “equal weight” rating and a $27.00 target price for the company. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Pacira BioSciences currently has an average rating of “Hold” and an average price target of $28.20.

Pacira BioSciences Price Performance

The business has a fifty day moving average of $24.53 and a 200-day moving average of $24.23. The firm has a market cap of $1.01 billion, a PE ratio of 52.29 and a beta of 0.22. 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 posted its earnings results on Thursday, November 6th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Pacira BioSciences had a return on equity of 12.82% and a net margin of 2.99%.The business had revenue of $179.52 million during the quarter, compared to analyst estimates of $182.86 million. During the same quarter in the previous year, the firm earned $0.79 EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, research analysts predict that Pacira BioSciences, Inc. will post 2.41 earnings per share for the current year.

Insiders Place Their Bets

In other Pacira BioSciences news, SVP Lauren Riker sold 1,416 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $24.24, for a total value of $34,323.84. Following the completion of the transaction, the senior vice president directly owned 59,064 shares of the company’s stock, valued at $1,431,711.36. This trade represents a 2.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Shawn Cross sold 9,104 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $25.14, for a total transaction of $228,874.56. Following the transaction, the chief financial officer owned 56,250 shares of the company’s stock, valued at $1,414,125. This trade represents a 13.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 34,336 shares of company stock worth $851,868 in the last three months. 6.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Pacira BioSciences

Institutional investors and hedge funds have recently modified their holdings of the business. Hantz Financial Services Inc. grew its holdings in shares of Pacira BioSciences by 175.4% during the third quarter. Hantz Financial Services Inc. now owns 1,132 shares of the company’s stock worth $29,000 after purchasing an additional 721 shares in the last quarter. Tidemark LLC bought a new stake in Pacira BioSciences during the third quarter valued at approximately $56,000. Strs Ohio purchased a new position in Pacira BioSciences in the 1st quarter worth approximately $75,000. iSAM Funds UK Ltd bought a new position in shares of Pacira BioSciences in the 3rd quarter worth $80,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Pacira BioSciences by 17.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,511 shares of the company’s stock worth $84,000 after buying an additional 531 shares during the last quarter. Hedge funds and other institutional investors 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.