Insider Selling: Pacira BioSciences (NASDAQ:PCRX) CFO Sells 1,500 Shares of Stock

Key Points

• CFO Shawn Cross sold 1,500 shares on April 22 at $25.01 under a pre‑arranged Rule 10b5‑1 plan; those trades were part of three sales from April 20–22 totaling 12,059 shares for about $302,600, leaving him with 105,341 shares (~$2.63M).
• Pacira missed quarterly expectations with EPS of $0.57 versus a $0.85 consensus and revenue of $196.87M below estimates; the stock trades near $24.88 with a market cap of roughly $1.01B and an average analyst rating of Hold (price target $30.25).
• Institutional ownership is very high at 99.73%, with several large funds (e.g., Doma Perpetual, Dimensional, Balyasny, Goldman Sachs) recently increasing their stakes.

Pacira BioSciences, Inc. (NASDAQ:PCRX - Get Free Report) CFO Shawn Cross sold 1,500 shares of Pacira BioSciences stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $25.01, for a total transaction of $37,515.00. Following the completion of the sale, the chief financial officer owned 105,341 shares in the company, valued at $2,634,578.41. The trade was a 1.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, April 21st, Shawn Cross sold 2,845 shares of Pacira BioSciences stock. The shares were sold at an average price of $25.01, for a total transaction of $71,153.45.
• On Monday, April 20th, Shawn Cross sold 7,714 shares of Pacira BioSciences stock. The shares were sold at an average price of $25.14, for a total transaction of $193,929.96.

Pacira BioSciences Stock Performance

Shares of Pacira BioSciences stock traded up $0.24 during trading on Wednesday, hitting $24.88. 360,574 shares of the stock were exchanged, compared to its average volume of 478,222. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 165.87 and a beta of 0.19. The company has a fifty day moving average price of $22.96 and a 200-day moving average price of $23.06. Pacira BioSciences, Inc. has a 1-year low of $18.80 and a 1-year 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 - Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.28). The firm had revenue of $196.87 million for the quarter, compared to analyst estimates of $201.93 million. Pacira BioSciences had a return on equity of 10.39% and a net margin of 0.97%.The firm's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 earnings per share. As a group, equities analysts predict that Pacira BioSciences, Inc. will post 1.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Doma Perpetual Capital Management LLC grew its stake in Pacira BioSciences by 49.7% in 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 buying an additional 897,255 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Pacira BioSciences by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,163,473 shares of the company's stock valued at $55,751,000 after buying an additional 11,831 shares during the last quarter. Balyasny Asset Management L.P. grew 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 valued at $50,925,000 after buying an additional 565,288 shares during the last quarter. American Century Companies Inc. grew its stake in Pacira BioSciences by 16.6% in the 3rd quarter. American Century Companies Inc. now owns 1,378,513 shares of the company's stock valued at $35,524,000 after buying an additional 196,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Pacira BioSciences by 49.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company's stock valued at $27,454,000 after buying an additional 367,869 shares during the last quarter. Institutional investors and hedge funds own 99.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PCRX shares. Wall Street Zen lowered shares of Pacira BioSciences from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 28th. Zacks Research upgraded shares of Pacira BioSciences from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 7th. Barclays lowered their price objective on shares of Pacira BioSciences from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 26th. HC Wainwright restated a "buy" rating and set a $38.00 price objective on shares of Pacira BioSciences in a research note on Friday, January 9th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Pacira BioSciences in a research note on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $30.25.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.