Pacira BioSciences (NASDAQ:PCRX) CFO Shawn Cross Sells 2,845 Shares of Stock

Pacira BioSciences, Inc. (NASDAQ:PCRX) CFO Shawn Cross sold 2,845 shares of Pacira BioSciences stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $25.01, for a total transaction of $71,153.45. Following the sale, the chief financial officer owned 105,341 shares of the company’s stock, valued at $2,634,578.41. The trade was a 2.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Shawn Cross also recently made the following trade(s):

• On Wednesday, April 22nd, Shawn Cross sold 1,500 shares of Pacira BioSciences stock. The stock was sold at an average price of $25.01, for a total transaction of $37,515.00.
• On Monday, April 20th, Shawn Cross sold 7,714 shares of Pacira BioSciences stock. The stock was sold at an average price of $25.14, for a total transaction of $193,929.96.

Pacira BioSciences Trading Up 1.0%

NASDAQ:PCRX opened at $24.88 on Thursday. The firm has a fifty day simple moving average of $22.96 and a 200-day simple moving average of $23.06. The company has a market capitalization of $1.01 billion, a P/E ratio of 165.87 and a beta of 0.19. Pacira BioSciences, Inc. has a 12 month low of $18.80 and a 12 month high of $27.64. The company has a current ratio of 4.54, a quick ratio of 3.28 and a debt-to-equity ratio of 0.54.

Pacira BioSciences (NASDAQ:PCRX) last issued its earnings results on Thursday, February 26th. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.28). The firm had revenue of $196.87 million during the quarter, compared to analysts’ expectations of $201.93 million. Pacira BioSciences had a net margin of 0.97% and a return on equity of 10.39%. Pacira BioSciences’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 EPS. On average, equities research analysts anticipate that Pacira BioSciences, Inc. will post 1.85 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 target price on shares of Pacira BioSciences in a research report on Friday, January 9th. Wall Street Zen lowered Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. Zacks Research upgraded Pacira BioSciences from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Pacira BioSciences in a research report on Monday, December 29th. Finally, Barclays cut their price target on Pacira BioSciences from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 26th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $30.25.

Institutional Investors Weigh In On Pacira BioSciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Doma Perpetual Capital Management LLC increased its holdings in shares of Pacira BioSciences by 49.7% during the 3rd quarter. Doma Perpetual Capital Management LLC now owns 2,701,324 shares of the company’s stock valued at $69,613,000 after purchasing an additional 897,255 shares in the last quarter. Hussman Strategic Advisors Inc. purchased a new position in shares of Pacira BioSciences during the 3rd quarter valued at approximately $2,706,000. Impax Asset Management Group plc increased its holdings in shares of Pacira BioSciences by 27.7% during the 3rd quarter. Impax Asset Management Group plc now owns 600,027 shares of the company’s stock valued at $15,463,000 after purchasing an additional 130,000 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of Pacira BioSciences during the 3rd quarter valued at approximately $1,948,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Pacira BioSciences by 87.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 435,143 shares of the company’s stock valued at $11,262,000 after purchasing an additional 202,773 shares in the last quarter. 99.73% of the stock is owned by institutional investors and hedge funds.

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.