Pacira BioSciences (NASDAQ:PCRX) CFO Shawn Cross Sells 12,941 Shares

Key Points

• Pacira BioSciences CFO Shawn Cross sold 12,941 shares on April 23 at an average of $25.16 for $325,595.56 under a pre-arranged Rule 10b5-1 plan, leaving him with 105,341 shares (a 10.94% ownership decrease).
• Including earlier sales on April 20–22, Cross sold a total of 25,000 shares that week for roughly $628,200.
• Shares traded at $24.51 after the company posted an earnings miss (EPS $0.57 vs. $0.85 estimate); analysts’ consensus is a Hold with an average price target of $30.25 and a market cap near $992M.

Pacira BioSciences, Inc. (NASDAQ:PCRX - Get Free Report) CFO Shawn Cross sold 12,941 shares of the firm's stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $25.16, for a total value of $325,595.56. Following the sale, the chief financial officer directly owned 105,341 shares in the company, valued at approximately $2,650,379.56. This trade represents a 10.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $71,153.45.
• On Wednesday, April 22nd, Shawn Cross sold 1,500 shares of Pacira BioSciences stock. The stock was sold at an average price of $25.01, for a total value of $37,515.00.
• On Monday, April 20th, Shawn Cross sold 7,714 shares of Pacira BioSciences stock. The stock was sold at an average price of $25.14, for a total transaction of $193,929.96.

Pacira BioSciences Stock Performance

Shares of NASDAQ:PCRX traded down $0.85 during trading on Friday, hitting $24.51. 525,894 shares of the stock traded hands, compared to its average volume of 473,242. The company has a quick ratio of 3.28, a current ratio of 4.54 and a debt-to-equity ratio of 0.54. The company has a fifty day moving average price of $23.09 and a two-hundred day moving average price of $23.08. Pacira BioSciences, Inc. has a 52-week low of $18.80 and a 52-week high of $27.64. The company has a market cap of $992.41 million, a price-to-earnings ratio of 163.40 and a beta of 0.19.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.85 by ($0.28). Pacira BioSciences had a return on equity of 10.39% and a net margin of 0.97%.The firm had revenue of $196.87 million for the quarter, compared to analysts' expectations of $201.93 million. During the same period last year, the company posted $0.91 earnings per share. The business's quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities analysts predict that Pacira BioSciences, Inc. will post 1.85 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PCRX shares. Weiss Ratings restated a "sell (d+)" rating on shares of Pacira BioSciences in a research report on Monday, December 29th. Zacks Research upgraded Pacira BioSciences from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 7th. Needham & Company LLC reissued a "buy" rating and issued a $30.00 price objective on shares of Pacira BioSciences in a report on Friday, January 9th. Barclays cut their price objective on Pacira BioSciences from $27.00 to $25.00 and set an "equal weight" rating for the company in a research report on Thursday, March 26th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $38.00 target price on shares of Pacira BioSciences in a research note on Friday, January 9th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $30.25.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Doma Perpetual Capital Management LLC increased its position in Pacira BioSciences by 49.7% during the third quarter. Doma Perpetual Capital Management LLC now owns 2,701,324 shares of the company's stock worth $69,613,000 after purchasing an additional 897,255 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings 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 purchasing an additional 11,831 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in shares of 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 period. American Century Companies Inc. grew its stake in shares of 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 period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Pacira BioSciences by 49.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company's stock worth $27,454,000 after buying an additional 367,869 shares during the last quarter. 99.73% of the stock is currently owned by institutional investors and hedge funds.

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.

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