Pacira BioSciences (NASDAQ:PCRX) Shares Gap Down to $22.74

Pacira BioSciences, Inc. (NASDAQ:PCRX) gapped down prior to trading on Wednesday . The stock had previously closed at $22.74, but opened at $21.71. Pacira BioSciences shares last traded at $22.25, with a volume of 111,847 shares traded.

Analyst Ratings Changes

A number of research analysts recently commented on the company. JPMorgan Chase & Co. started coverage on Pacira BioSciences in a research note on Thursday, March 7th. They set an “overweight” rating and a $45.00 price objective for the company. Barclays cut shares of Pacira BioSciences from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $38.00 to $25.00 in a report on Wednesday. Needham & Company LLC reiterated a “buy” rating and issued a $43.00 price objective on shares of Pacira BioSciences in a research report on Tuesday. Finally, HC Wainwright restated a “buy” rating and issued a $57.00 target price on shares of Pacira BioSciences in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Pacira BioSciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.10.

Pacira BioSciences Stock Performance

The company has a fifty day moving average price of $28.69 and a two-hundred day moving average price of $29.78. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 15.90 and a beta of 0.88. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.81 and a quick ratio of 4.78.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). The business had revenue of $167.12 million during the quarter, compared to analyst estimates of $165.43 million. Pacira BioSciences had a net margin of 10.34% and a return on equity of 12.98%. As a group, equities research analysts expect that Pacira BioSciences, Inc. will post 2.13 EPS for the current year.

Insider Buying and Selling

In other news, SVP Lauren Riker sold 3,970 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $28.72, for a total transaction of $114,018.40. Following the completion of the sale, the senior vice president now directly owns 38,075 shares of the company’s stock, valued at $1,093,514. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Pacira BioSciences news, SVP Lauren Riker sold 3,970 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $28.72, for a total value of $114,018.40. Following the transaction, the senior vice president now owns 38,075 shares in the company, valued at $1,093,514. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan Slonin sold 5,012 shares of Pacira BioSciences stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $28.57, for a total value of $143,192.84. Following the sale, the insider now owns 44,569 shares of the company’s stock, valued at $1,273,336.33. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,314 shares of company stock worth $522,053. Corporate insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PCRX. Vestal Point Capital LP bought a new stake in shares of Pacira BioSciences in the fourth quarter valued at approximately $40,488,000. Pacer Advisors Inc. grew its position in Pacira BioSciences by 397,487.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,041,679 shares of the company’s stock worth $35,146,000 after buying an additional 1,041,417 shares in the last quarter. Archon Capital Management LLC bought a new position in Pacira BioSciences during the first quarter valued at about $15,677,000. Rubric Capital Management LP acquired a new position in Pacira BioSciences in the 3rd quarter valued at approximately $14,102,000. Finally, Frontier Capital Management Co. LLC lifted its position in shares of Pacira BioSciences by 15.8% in the 4th quarter. Frontier Capital Management Co. LLC now owns 2,084,542 shares of the company’s stock worth $70,332,000 after acquiring an additional 285,045 shares during the period. 99.73% of the stock is currently owned by institutional investors and hedge funds.

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.