Pacira BioSciences (NASDAQ:PCRX) Shares Gap Up to $19.54

Pacira BioSciences, Inc. (NASDAQ:PCRX) shares gapped up prior to trading on Wednesday . The stock had previously closed at $19.54, but opened at $22.19. Pacira BioSciences shares last traded at $21.77, with a volume of 33,903 shares traded.

Wall Street Analysts Forecast Growth

PCRX has been the subject of several research reports. Raymond James reduced their price objective on Pacira BioSciences from $41.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday. Piper Sandler reiterated an “overweight” rating and issued a $42.00 price objective on shares of Pacira BioSciences in a research report on Wednesday, July 3rd. Royal Bank of Canada dropped their target price on shares of Pacira BioSciences from $42.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday. Barclays downgraded shares of Pacira BioSciences from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $38.00 to $25.00 in a report on Wednesday, July 3rd. Finally, HC Wainwright reissued a “buy” rating and set a $57.00 price objective on shares of Pacira BioSciences in a research note on Tuesday, July 2nd. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $42.30.

Pacira BioSciences Price Performance

The company has a 50 day moving average of $25.19 and a 200 day moving average of $27.93. The stock has a market capitalization of $980.72 million, a price-to-earnings ratio of 14.51 and a beta of 0.88. The company has a quick ratio of 4.78, a current ratio of 5.81 and a debt-to-equity ratio of 0.57.

Pacira BioSciences (NASDAQ:PCRX) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). The company had revenue of $167.12 million for the quarter, compared to analyst estimates of $165.43 million. Pacira BioSciences had a net margin of 9.21% and a return on equity of 13.27%. As a group, equities research analysts forecast that Pacira BioSciences, Inc. will post 2.13 EPS for the current fiscal year.

Insider Buying and Selling at Pacira BioSciences

In other Pacira BioSciences news, insider Jonathan Slonin sold 5,012 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $28.57, for a total transaction of $143,192.84. Following the completion of the sale, the insider now owns 44,569 shares of the company’s stock, valued at $1,273,336.33. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Kristen Williams sold 7,452 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $28.38, for a total value of $211,487.76. Following the transaction, the insider now owns 102,912 shares of the company’s stock, valued at approximately $2,920,642.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jonathan Slonin sold 5,012 shares of Pacira BioSciences stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $28.57, for a total transaction of $143,192.84. Following the transaction, the insider now owns 44,569 shares in the company, valued at approximately $1,273,336.33. The disclosure for this sale can be found here. Insiders have sold a total of 21,150 shares of company stock worth $602,170 in the last quarter. 6.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Pacira BioSciences

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Pacira BioSciences by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 5,113,384 shares of the company’s stock valued at $149,413,000 after buying an additional 14,960 shares during the last quarter. Frontier Capital Management Co. LLC boosted its holdings in Pacira BioSciences by 15.8% in the fourth quarter. Frontier Capital Management Co. LLC now owns 2,084,542 shares of the company’s stock valued at $70,332,000 after purchasing an additional 285,045 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Pacira BioSciences by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,411,767 shares of the company’s stock valued at $47,633,000 after purchasing an additional 17,949 shares in the last quarter. Vestal Point Capital LP purchased a new stake in Pacira BioSciences during the 4th quarter worth approximately $40,488,000. Finally, Clearbridge Investments LLC raised its position in shares of Pacira BioSciences by 2.3% in the 1st quarter. Clearbridge Investments LLC now owns 1,172,150 shares of the company’s stock valued at $34,250,000 after purchasing an additional 26,463 shares in the last quarter. Institutional investors and hedge funds 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.