Pacira BioSciences (NASDAQ:PCRX) Shares Gap Down – What’s Next?

Pacira BioSciences, Inc. (NASDAQ:PCRX) shares gapped down prior to trading on Friday . The stock had previously closed at $22.59, but opened at $21.14. Pacira BioSciences shares last traded at $21.8740, with a volume of 657,370 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PCRX shares. Wall Street Zen upgraded Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Pacira BioSciences in a research report on Monday, December 29th. HC Wainwright reissued a “buy” rating and set a $38.00 price objective on shares of Pacira BioSciences in a research report on Friday, January 9th. Needham & Company LLC restated a “buy” rating and set a $30.00 price objective on shares of Pacira BioSciences in a research note on Friday, January 9th. Finally, Truist Financial reduced their target price on Pacira BioSciences from $30.00 to $28.00 and set a “buy” rating for the company in a report on Friday, November 7th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $30.75.

Pacira BioSciences Stock Performance

The business’s 50 day simple moving average is $22.74 and its two-hundred day simple moving average is $23.87. The firm has a market capitalization of $937.90 million, a PE ratio of 48.41 and a beta of 0.24. The company has a current ratio of 5.26, a quick ratio of 3.78 and a debt-to-equity ratio of 0.52.

Insider Transactions at Pacira BioSciences

In other news, SVP Lauren Riker sold 4,000 shares of the company’s stock in a transaction dated 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 $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 is available through this link. Also, CFO Shawn Cross sold 9,104 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $25.14, for a total transaction of $228,874.56. Following the completion of the transaction, the chief financial officer owned 56,250 shares in the company, valued at $1,414,125. This trade represents a 13.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 30,416 shares of company stock valued at $744,315. Corporate insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Doma Perpetual Capital Management LLC grew its stake 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 acquiring an additional 897,255 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Pacira BioSciences by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,163,473 shares of the company’s stock valued at $55,751,000 after purchasing an additional 11,831 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in Pacira BioSciences by 36.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,130,733 shares of the company’s stock worth $50,925,000 after acquiring an additional 565,288 shares during the last quarter. American Century Companies Inc. lifted its position in Pacira BioSciences by 16.6% during the third quarter. American Century Companies Inc. now owns 1,378,513 shares of the company’s stock valued at $35,524,000 after purchasing an additional 196,000 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Pacira BioSciences by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,143,190 shares of the company’s stock worth $27,326,000 after buying an additional 5,658 shares in the last quarter. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Company Profile

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.