Pacira BioSciences (NASDAQ:PCRX) Stock Price Down 4.7% – What’s Next?

Pacira BioSciences, Inc. (NASDAQ:PCRX) was down 4.7% during trading on Tuesday . The stock traded as low as $21.61 and last traded at $21.6220. Approximately 176,383 shares traded hands during trading, a decline of 81% from the average daily volume of 918,385 shares. The stock had previously closed at $22.69.

Wall Street Analyst Weigh In

PCRX has been the subject of several recent analyst reports. HC Wainwright reiterated a “buy” rating and issued a $38.00 price objective on shares of Pacira BioSciences in a research note on Friday, January 9th. Zacks Research lowered Pacira BioSciences from a “hold” rating to a “strong sell” rating in a research note on Monday, March 9th. Wall Street Zen downgraded Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th. Weiss Ratings restated a “sell (d+)” rating on shares of Pacira BioSciences in a report on Monday, December 29th. Finally, Needham & Company LLC restated a “buy” rating and issued a $30.00 price objective on shares of Pacira BioSciences in a research report on Friday, January 9th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $30.75.

Pacira BioSciences Stock Performance

The company has a market cap of $886.04 million, a price-to-earnings ratio of 145.77 and a beta of 0.21. The stock’s fifty day simple moving average is $21.94 and its two-hundred day simple moving average is $23.61. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.28 and a current ratio of 4.54.

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

Insider Transactions at Pacira BioSciences

In related news, SVP Lauren Riker sold 4,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $20.81, for a total transaction of $83,240.00. Following the completion of the sale, the senior vice president owned 52,313 shares of the company’s stock, valued at approximately $1,088,633.53. This represents a 7.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Pacira BioSciences

Several institutional investors have recently bought and sold shares of PCRX. Vident Advisory LLC increased its position in shares of Pacira BioSciences by 15.0% in the fourth quarter. Vident Advisory LLC now owns 23,571 shares of the company’s stock worth $610,000 after acquiring an additional 3,075 shares in the last quarter. Empowered Funds LLC boosted its position in Pacira BioSciences by 1.9% during the 4th quarter. Empowered Funds LLC now owns 227,605 shares of the company’s stock worth $5,890,000 after purchasing an additional 4,167 shares during the period. XTX Topco Ltd acquired a new stake in Pacira BioSciences in the 4th quarter valued at $2,146,000. Millennium Management LLC increased its holdings in Pacira BioSciences by 73.3% in the 4th quarter. Millennium Management LLC now owns 122,606 shares of the company’s stock valued at $3,173,000 after purchasing an additional 51,848 shares in the last quarter. Finally, Inspire Investing LLC raised its position in Pacira BioSciences by 3.2% in the fourth quarter. Inspire Investing LLC now owns 17,958 shares of the company’s stock valued at $465,000 after purchasing an additional 556 shares during the period. 99.73% of the stock is currently owned by hedge funds and other institutional investors.

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.