Pacira BioSciences (NASDAQ:PCRX) CFO Shawn Cross Sells 7,714 Shares

Key Points

• CFO Shawn Cross sold shares under a pre-arranged Rule 10b5-1 plan, disposing of 7,714 shares on April 20 at an average $25.14 (≈$193,930) and additional blocks of 2,845 and 1,500 shares on April 21–22, leaving him with 105,341 shares (a 6.82% reduction).
• Pacira shares traded around $24.88 (up ~1.0% intraday) with a market cap of about $1.01 billion, a P/E of 165.9, and a 52-week range of $18.80–$27.64; the stock’s 50- and 200-day moving averages are $22.96 and $23.06, respectively.
• The company recently missed quarterly expectations (EPS $0.57 vs. $0.85 estimate; revenue $196.87M vs. $201.93M), and analysts’ consensus is a Hold with an average price target of $30.25.

Pacira BioSciences, Inc. (NASDAQ:PCRX - Get Free Report) CFO Shawn Cross sold 7,714 shares of the company's stock in a transaction on Monday, April 20th. The shares were sold at an average price of $25.14, for a total value of $193,929.96. Following the completion of the transaction, the chief financial officer directly owned 105,341 shares in the company, valued at $2,648,272.74. This trade represents a 6.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 stock was 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.

Pacira BioSciences Stock Up 1.0%

Pacira BioSciences stock traded up $0.24 during midday trading on Wednesday, reaching $24.88. The company's stock had a trading volume of 360,574 shares, compared to its average volume of 478,222. The stock's 50-day simple moving average is $22.96 and its 200-day simple moving average is $23.06. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.54 and a quick ratio of 3.28. The stock has a market capitalization of $1.01 billion, a P/E ratio of 165.87 and a beta of 0.19. Pacira BioSciences, Inc. has a 52-week low of $18.80 and a 52-week high of $27.64.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.28). The company 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 was up 5.1% on a year-over-year basis. During the same period last year, the business earned $0.91 earnings per share. On average, sell-side analysts expect that Pacira BioSciences, Inc. will post 1.85 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PCRX. Hantz Financial Services Inc. boosted its holdings in Pacira BioSciences by 175.4% in the third quarter. Hantz Financial Services Inc. now owns 1,132 shares of the company's stock worth $29,000 after purchasing an additional 721 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased 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 buying an additional 1,475 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Pacira BioSciences during the fourth quarter worth approximately $48,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Pacira BioSciences during the fourth quarter valued at approximately $51,000. Finally, Global Retirement Partners LLC grew its stake in shares of Pacira BioSciences by 479.4% during the fourth quarter. Global Retirement Partners LLC now owns 2,028 shares of the company's stock valued at $52,000 after purchasing an additional 1,678 shares during the last quarter. Institutional investors own 99.73% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Weiss Ratings reissued a "sell (d+)" rating on shares of Pacira BioSciences in a report on Monday, December 29th. Wall Street Zen cut Pacira BioSciences from a "strong-buy" rating to a "buy" rating in a report on Saturday, February 28th. Zacks Research upgraded Pacira BioSciences from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 7th. HC Wainwright reaffirmed a "buy" rating and issued a $38.00 target price on shares of Pacira BioSciences in a research report on Friday, January 9th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $30.00 price target on shares of Pacira BioSciences in a report on Friday, January 9th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Pacira BioSciences presently has a consensus 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.

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