Marcelo Bigal Sells 4,912 Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) Stock

Pacira BioSciences, Inc. (NASDAQ:PCRX) Director Marcelo Bigal sold 4,912 shares of the firm’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $23.67, for a total transaction of $116,267.04. Following the completion of the transaction, the director directly owned 11,393 shares of the company’s stock, valued at approximately $269,672.31. This trade represents a 30.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Pacira BioSciences Stock Up 0.9%

Shares of PCRX opened at $25.04 on Thursday. The firm has a market capitalization of $1.13 billion, a P/E ratio of -9.01 and a beta of 0.48. Pacira BioSciences, Inc. has a 12-month low of $12.14 and a 12-month high of $27.64. The company has a current ratio of 2.38, a quick ratio of 1.91 and a debt-to-equity ratio of 0.50. The firm has a fifty day moving average price of $23.50 and a 200-day moving average price of $24.62.

Pacira BioSciences (NASDAQ:PCRX) last issued its earnings results on Tuesday, August 5th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The firm had revenue of $181.10 million during the quarter, compared to analyst estimates of $183.11 million. Pacira BioSciences had a negative net margin of 18.08% and a positive return on equity of 13.29%. The business’s revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.96 earnings per share. Equities research analysts expect that Pacira BioSciences, Inc. will post 2.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on PCRX. Needham & Company LLC dropped their price objective on shares of Pacira BioSciences from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Wall Street Zen raised shares of Pacira BioSciences from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Finally, Truist Financial raised shares of Pacira BioSciences from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Friday, July 25th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $30.83.

Institutional Trading of Pacira BioSciences

A number of large investors have recently made changes to their positions in the stock. State of Wyoming boosted its stake in shares of Pacira BioSciences by 8.0% during the fourth quarter. State of Wyoming now owns 6,566 shares of the company’s stock valued at $124,000 after purchasing an additional 487 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Pacira BioSciences by 17.8% during the second quarter. PNC Financial Services Group Inc. now owns 3,511 shares of the company’s stock valued at $84,000 after purchasing an additional 531 shares during the period. US Bancorp DE boosted its stake in shares of Pacira BioSciences by 31.0% during the first quarter. US Bancorp DE now owns 2,270 shares of the company’s stock valued at $56,000 after purchasing an additional 537 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Pacira BioSciences by 3.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,077 shares of the company’s stock valued at $491,000 after purchasing an additional 794 shares during the period. Finally, Sterling Capital Management LLC boosted its stake in shares of Pacira BioSciences by 779.4% during the fourth quarter. Sterling Capital Management LLC now owns 1,363 shares of the company’s stock valued at $26,000 after purchasing an additional 1,208 shares during the period. 99.73% of the stock is owned by hedge funds and other institutional investors.

About Pacira BioSciences

Pacira Biosciences, Inc is a holding company, which engages in the provision of non-opioid pain management and regenerative health solutions to improve patients’ journeys along the neural pain pathway. Its products include EXPAREL, iovera, and DepoFoam. The company was founded in December 2006 and is headquartered in Tampa, FL.