Pacira BioSciences (NASDAQ:PCRX) Shares Down 4.7% – Should You Sell?
by Mitch Edgeman · The Markets DailyPacira BioSciences, Inc. (NASDAQ:PCRX – Get Free Report) shares fell 4.7% during trading on Tuesday . The company traded as low as $21.61 and last traded at $21.6220. 176,383 shares changed hands during trading, a decline of 81% from the average session volume of 918,385 shares. The stock had previously closed at $22.69.
Analysts Set New Price Targets
A number of research firms recently issued reports on PCRX. Needham & Company LLC restated a “buy” rating and set a $30.00 price objective on shares of Pacira BioSciences in a report on Friday, January 9th. Zacks Research downgraded Pacira BioSciences from a “hold” rating to a “strong sell” rating in a report on Monday, March 9th. Barclays began coverage on Pacira BioSciences in a report on Tuesday, December 9th. They issued an “equal weight” rating and a $27.00 target price for the company. HC Wainwright reiterated a “buy” rating and set a $38.00 target price on shares of Pacira BioSciences in a report on Friday, January 9th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Pacira BioSciences in a report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $30.75.
Check Out Our Latest Report on Pacira BioSciences
Pacira BioSciences Stock Up 1.1%
The company’s fifty day simple moving average is $21.79 and its 200-day simple moving average is $23.56. The firm has a market capitalization of $901.71 million, a PE ratio of 148.09 and a beta of 0.21. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.54 and a quick ratio of 3.28.
Pacira BioSciences (NASDAQ:PCRX – Get Free Report) last issued 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 analysts’ expectations of $201.93 million. During the same quarter in the prior year, the company posted $0.91 EPS. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, analysts forecast that Pacira BioSciences, Inc. will post 2.41 EPS for the current year.
Insiders Place Their Bets
In other Pacira BioSciences news, SVP Lauren Riker sold 4,000 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $20.81, for a total value of $83,240.00. Following the completion of the transaction, the senior vice president owned 52,313 shares of the company’s stock, valued at approximately $1,088,633.53. This trade represents a 7.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 6.40% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of PCRX. Hantz Financial Services Inc. increased its holdings in Pacira BioSciences by 175.4% in the 3rd 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. raised its holdings 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 Pacira BioSciences in the fourth quarter valued at $48,000. Eurizon Capital SGR S.p.A. acquired a new stake in Pacira BioSciences during the 4th quarter worth about $51,000. Finally, Global Retirement Partners LLC raised its stake in shares of Pacira BioSciences by 479.4% during the 4th quarter. Global Retirement Partners LLC now owns 2,028 shares of the company’s stock valued at $52,000 after buying an additional 1,678 shares during the last quarter. 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.