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

Pacira BioSciences, Inc. (NASDAQ:PCRX)’s stock price gapped down before the market opened 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 analysts recently weighed in on the company. Barclays downgraded Pacira BioSciences from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $38.00 to $25.00 in a report on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $43.00 target price on shares of Pacira BioSciences in a research note on Tuesday. HC Wainwright reissued a “buy” rating and issued a $57.00 price objective on shares of Pacira BioSciences in a research report on Tuesday. Finally, JPMorgan Chase & Co. began coverage on Pacira BioSciences in a research report on Thursday, March 7th. They set an “overweight” rating and a $45.00 target price on the stock. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $46.10.

Pacira BioSciences Trading Down 2.2 %

The company has a quick ratio of 4.78, a current ratio of 5.81 and a debt-to-equity ratio of 0.57. The firm has a 50 day moving average price of $28.69 and a 200 day moving average price of $29.78. The stock has a market capitalization of $1.04 billion, a PE ratio of 15.90 and a beta of 0.88.

Pacira BioSciences (NASDAQ:PCRX) last released its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $165.43 million. Pacira BioSciences had a net margin of 10.34% and a return on equity of 12.98%. Equities analysts expect that Pacira BioSciences, Inc. will post 2.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other Pacira BioSciences news, SVP Lauren Riker sold 3,970 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $1,093,514. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Lauren Riker sold 3,970 shares of the company’s stock in a transaction that occurred on 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jonathan Slonin sold 5,012 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $28.57, for a total value of $143,192.84. Following the completion of the sale, the insider now directly owns 44,569 shares of the company’s stock, valued at $1,273,336.33. The disclosure for this sale can be found here. Insiders have sold a total of 18,314 shares of company stock valued at $522,053 in the last 90 days. 6.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pacira BioSciences

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Pacira BioSciences by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,113,384 shares of the company’s stock valued at $149,413,000 after purchasing an additional 14,960 shares during the period. Frontier Capital Management Co. LLC increased its position in shares of Pacira BioSciences by 15.8% during 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 buying an additional 285,045 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Pacira BioSciences by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,411,767 shares of the company’s stock worth $47,633,000 after buying an additional 17,949 shares in the last quarter. Vestal Point Capital LP bought a new position in shares of Pacira BioSciences in the fourth quarter valued at approximately $40,488,000. Finally, Clearbridge Investments LLC grew its stake in Pacira BioSciences by 2.3% during the first quarter. Clearbridge Investments LLC now owns 1,172,150 shares of the company’s stock valued at $34,250,000 after acquiring an additional 26,463 shares in the last quarter. 99.73% of the stock is owned by institutional investors.

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.