Pacira BioSciences, Inc. (NASDAQ:PCRX) Director Marcelo Bigal Sells 4,912 Shares

Key Points

• Director Marcelo Bigal of Pacira BioSciences sold 4,912 shares at an average price of $23.67, reducing his stake by 30.13%.
• The company reported an EPS of $0.74 for the last quarter, slightly exceeding analysts' expectations, while quarterly revenue was $181.10 million, falling short of estimates.
• Pacira BioSciences has a consensus price target of $25.75, with a recent upgrade by analysts from a "hold" to a "buy" rating.

Pacira BioSciences, Inc. (NASDAQ:PCRX - Get Free Report) Director Marcelo Bigal sold 4,912 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $23.67, for a total transaction of $116,267.04. Following the sale, the director owned 11,393 shares in the company, valued at approximately $269,672.31. This trade represents a 30.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Pacira BioSciences Price Performance

PCRX stock traded up $0.01 during midday trading on Monday, hitting $25.19. The company's stock had a trading volume of 495,519 shares, compared to its average volume of 809,404. Pacira BioSciences, Inc. has a 12 month low of $11.16 and a 12 month high of $27.64. The company has a quick ratio of 1.91, a current ratio of 2.38 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -9.06 and a beta of 0.48. The company has a 50 day moving average of $23.59 and a two-hundred day moving average of $24.61.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.01. The firm had revenue of $181.10 million during the quarter, compared to the consensus estimate of $183.11 million. Pacira BioSciences had a positive return on equity of 13.29% and a negative net margin of 18.08%. The company's quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.96 EPS. On average, analysts expect that Pacira BioSciences, Inc. will post 2.41 EPS for the current year.

Institutional Trading of Pacira BioSciences

Institutional investors have recently bought and sold shares of the stock. LPL Financial LLC purchased a new stake in Pacira BioSciences in the fourth quarter worth $251,000. Geode Capital Management LLC grew its stake in shares of Pacira BioSciences by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 1,091,970 shares of the company's stock worth $20,578,000 after acquiring an additional 5,071 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Pacira BioSciences during the fourth quarter worth about $190,000. Capital Fund Management S.A. lifted its holdings in shares of Pacira BioSciences by 34.6% during the fourth quarter. Capital Fund Management S.A. now owns 175,225 shares of the company's stock worth $3,301,000 after purchasing an additional 45,016 shares during the period. Finally, Sterling Capital Management LLC lifted its holdings in shares of Pacira BioSciences by 779.4% during the fourth quarter. Sterling Capital Management LLC now owns 1,363 shares of the company's stock worth $26,000 after purchasing an additional 1,208 shares during the period. 99.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on PCRX shares. Wall Street Zen upgraded shares of Pacira BioSciences from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Needham & Company LLC lowered their target price on shares of Pacira BioSciences from $32.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Finally, Truist Financial upgraded shares of Pacira BioSciences from a "hold" rating to a "buy" rating and set a $30.00 target price on the stock in a research note on Friday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $25.75.

Pacira BioSciences Company Profile

Pacira Biosciences, Inc is a holding company, which engages in the provision of non-opioid pain management and regenerative health solutions to improve patients' journeys along the neural pain pathway. Its products include EXPAREL, iovera, and DepoFoam. The company was founded in December 2006 and is headquartered in Tampa, FL.

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