Pacira BioSciences (NASDAQ:PCRX) Insider Jonathan Slonin Sells 3,040 Shares of Stock

Key Points

• Insider Jonathan Slonin sold 3,040 shares of Pacira BioSciences at an average price of $23.23, receiving $70,619.20. The transaction, conducted under a Rule 10b5-1 plan, reduced his ownership by 1.39% to 216,384 shares.
• Pacira shares rose 3.3% to $24.00 in Tuesday trading. The company recently reported quarterly EPS of $0.73, beating estimates of $0.65, while revenue increased 6.2% year over year to $192.4 million.
• Analysts maintain a consensus “Hold” rating with an average price target of $30.20; institutional investors and hedge funds own 99.73% of the stock.

Pacira BioSciences, Inc. (NASDAQ:PCRX - Get Free Report) insider Jonathan Slonin sold 3,040 shares of Pacira BioSciences stock in a transaction on Monday, August 17th. The shares were sold at an average price of $23.23, for a total value of $70,619.20. Following the completion of the sale, the insider directly owned 216,384 shares of the company's stock, valued at $5,026,600.32. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pacira BioSciences Trading Up 3.3%

Pacira BioSciences stock traded up $0.76 during mid-day trading on Tuesday, hitting $24.00. The stock had a trading volume of 443,567 shares, compared to its average volume of 697,033. The stock has a 50-day simple moving average of $24.81 and a two-hundred day simple moving average of $23.58. The stock has a market capitalization of $956.69 million, a PE ratio of 68.57 and a beta of 0.27. Pacira BioSciences, Inc. has a 12 month low of $18.80 and a 12 month high of $27.66. The company has a current ratio of 5.04, a quick ratio of 3.94 and a debt-to-equity ratio of 0.54.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.08. Pacira BioSciences had a net margin of 1.96% and a return on equity of 9.68%. The company had revenue of $192.40 million for the quarter, compared to the consensus estimate of $191.06 million. During the same period in the prior year, the company posted $0.74 EPS. The company's revenue was up 6.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Pacira BioSciences, Inc. will post 1.98 EPS for the current year.

Institutional Trading of Pacira BioSciences

Hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Pacira BioSciences by 0.5% in the third 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 period. Balyasny Asset Management L.P. raised its holdings 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 purchasing an additional 565,288 shares during the period. Goldman Sachs Group Inc. increased its position in Pacira BioSciences by 49.9% during the first 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. Impax Asset Management Group plc increased its position in Pacira BioSciences by 25.0% during the fourth quarter. Impax Asset Management Group plc now owns 750,027 shares of the company's stock worth $19,411,000 after buying an additional 150,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Pacira BioSciences by 7.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 676,352 shares of the company's stock valued at $17,504,000 after buying an additional 49,079 shares during the period. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the stock. Weiss Ratings raised shares of Pacira BioSciences from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, May 20th. Royal Bank Of Canada raised their price target on Pacira BioSciences from $24.00 to $25.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 5th. Wall Street Zen cut Pacira BioSciences from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Needham & Company LLC increased their target price on Pacira BioSciences from $32.00 to $33.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Finally, HC Wainwright restated a "buy" rating and set a $38.00 target price on shares of Pacira BioSciences in a report on Wednesday, July 1st. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $30.20.

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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