Pacira BioSciences (NASDAQ:PCRX) Shares Up 4.6% – Time to Buy?

Pacira BioSciences, Inc. (NASDAQ:PCRX) was up 4.6% during trading on Tuesday . The stock traded as high as $22.19 and last traded at $22.2490. Approximately 147,730 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 946,530 shares. The stock had previously closed at $21.28.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PCRX. Truist Financial reduced their target price on shares of Pacira BioSciences from $30.00 to $28.00 and set a “buy” rating for the company in a report on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Pacira BioSciences in a report on Monday, December 29th. Wall Street Zen cut Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Barclays began coverage on Pacira BioSciences in a research note on Tuesday, December 9th. They issued an “equal weight” rating and a $27.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $38.00 price target on shares of Pacira BioSciences in a report on Friday, January 9th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $30.75.

Pacira BioSciences Stock Performance

The business’s fifty day moving average is $22.42 and its two-hundred day moving average is $23.78. The stock has a market capitalization of $925.60 million, a PE ratio of 152.40 and a beta of 0.21. The company has a quick ratio of 3.28, a current ratio of 4.54 and a debt-to-equity ratio of 0.54.

Pacira BioSciences (NASDAQ:PCRX) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.28). Pacira BioSciences had a net margin of 0.97% and a return on equity of 10.39%. The business had revenue of $196.87 million for the quarter, compared to the consensus estimate of $201.93 million. During the same quarter last year, the business earned $0.91 EPS. Pacira BioSciences’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, research analysts anticipate that Pacira BioSciences, Inc. will post 2.41 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Shawn Cross sold 9,104 shares of the stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $25.14, for a total value of $228,874.56. Following the sale, the chief financial officer owned 56,250 shares of the company’s stock, valued at approximately $1,414,125. This represents a 13.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Lauren Riker sold 4,000 shares of Pacira BioSciences stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $20.81, for a total transaction of $83,240.00. Following the transaction, the senior vice president directly owned 52,313 shares of the company’s stock, valued at approximately $1,088,633.53. This represents a 7.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 30,416 shares of company stock worth $744,315. Company insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PCRX. Hantz Financial Services Inc. raised its holdings in shares of Pacira BioSciences by 175.4% in the third quarter. Hantz Financial Services Inc. now owns 1,132 shares of the company’s stock worth $29,000 after buying an additional 721 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Pacira BioSciences by 5,900.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,500 shares of the company’s stock worth $39,000 after purchasing an additional 1,475 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Pacira BioSciences during the fourth quarter valued at $48,000. Eurizon Capital SGR S.p.A. bought a new position in shares of Pacira BioSciences in the fourth quarter worth about $51,000. Finally, Global Retirement Partners LLC increased its stake in Pacira BioSciences by 479.4% in the 4th quarter. Global Retirement Partners LLC now owns 2,028 shares of the company’s stock worth $52,000 after buying an additional 1,678 shares during the period. Hedge funds and other institutional investors own 99.73% of the company’s stock.

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.