Pacira BioSciences (NASDAQ:PCRX) Shares Gap Up to $26.51

Pacira BioSciences, Inc. (NASDAQ:PCRX - Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $26.51, but opened at $28.90. Pacira BioSciences shares last traded at $29.46, with a volume of 611,203 shares changing hands.

Analysts Set New Price Targets

PCRX has been the topic of several recent research reports. JPMorgan Chase & Co. initiated coverage on shares of Pacira BioSciences in a research report on Thursday, March 7th. They issued an "overweight" rating and a $45.00 price target on the stock. TheStreet upgraded Pacira BioSciences from a "d+" rating to a "c" rating in a research report on Thursday, February 29th. Barclays lowered their price target on Pacira BioSciences from $40.00 to $38.00 and set an "overweight" rating on the stock in a research report on Wednesday. HC Wainwright reiterated a "buy" rating and set a $57.00 price target on shares of Pacira BioSciences in a research report on Wednesday. Finally, Wedbush reaffirmed an "outperform" rating and set a $57.00 price objective on shares of Pacira BioSciences in a research report on Thursday, February 8th. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $47.40.

Pacira BioSciences Stock Performance

The stock has a market cap of $1.38 billion, a P/E ratio of 36.60 and a beta of 0.77. The company has a quick ratio of 4.17, a current ratio of 5.24 and a debt-to-equity ratio of 0.59. The business has a 50 day moving average price of $28.27 and a two-hundred day moving average price of $29.51.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last released its earnings results on Thursday, February 29th. The company reported $0.71 earnings per share for the quarter, hitting the consensus estimate of $0.71. Pacira BioSciences had a return on equity of 12.81% and a net margin of 6.22%. The business had revenue of $181.24 million during the quarter, compared to the consensus estimate of $180.60 million. On average, sell-side analysts forecast that Pacira BioSciences, Inc. will post 2.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Pacira BioSciences

In related news, Director Gary W. Pace sold 1,066 shares of the firm's stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $29.67, for a total transaction of $31,628.22. Following the completion of the sale, the director now directly owns 140,384 shares in the company, valued at $4,165,193.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Gary W. Pace sold 90,000 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $30.60, for a total transaction of $2,754,000.00. Following the completion of the sale, the director now owns 22,127 shares in the company, valued at $677,086.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gary W. Pace sold 1,066 shares of Pacira BioSciences stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $29.67, for a total value of $31,628.22. Following the completion of the sale, the director now owns 140,384 shares in the company, valued at $4,165,193.28. The disclosure for this sale can be found here. 6.60% of the stock is owned by corporate insiders.

Institutional Trading of Pacira BioSciences

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Pacira BioSciences by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 5,098,424 shares of the company's stock worth $172,021,000 after acquiring an additional 141,719 shares during the last quarter. Frontier Capital Management Co. LLC raised its stake in Pacira BioSciences by 15.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,084,542 shares of the company's stock valued at $70,332,000 after buying an additional 285,045 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Pacira BioSciences by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,411,767 shares of the company's stock worth $47,633,000 after purchasing an additional 17,949 shares during the period. Vestal Point Capital LP bought a new position in Pacira BioSciences in the fourth quarter worth about $40,488,000. Finally, Rock Springs Capital Management LP increased its position in Pacira BioSciences by 2.0% in the third quarter. Rock Springs Capital Management LP now owns 1,055,500 shares of the company's stock worth $32,383,000 after buying an additional 20,500 shares during the period. Hedge funds and other institutional investors own 99.73% of the company's stock.

Pacira BioSciences Company Profile

Pacira BioSciences, Inc engages in the development, manufacture, marketing, distribution, and sale of non-opioid pain management and regenerative health solutions to healthcare practitioners in the United States. The company offers EXPAREL, a bupivacaine liposome injectable suspension; ZILRETTA, a triamcinolone acetonide extended-release injectable suspension; and iovera system, a non-opioid handheld cryoanalgesia device used to produce controlled doses of cold temperature to targeted nerves.