Pacira BioSciences (NASDAQ:PCRX) Trading Down 7.9% - Should You Sell?

Key Points

• Pacira BioSciences shares fell 7.9% to $25.43 in Wednesday trading, with volume down 74% from its average. The stock has a consensus “Hold” rating and an average analyst price target of $29.80.
• The company’s latest quarterly results exceeded expectations, reporting adjusted EPS of $0.73 versus the $0.65 consensus and revenue of $192.4 million, up 6.2% year over year.
• Analyst sentiment remains mixed: three analysts rate the stock Buy, three Hold, and one Sell. An insider sold shares under a pre-arranged trading plan, while institutional investors collectively own 99.73% of the company.

Pacira BioSciences, Inc. (NASDAQ:PCRX - Get Free Report)'s share price fell 7.9% during trading on Wednesday . The company traded as low as $25.21 and last traded at $25.43. 181,670 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 686,524 shares. The stock had previously closed at $27.62.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Needham & Company LLC increased their price objective on Pacira BioSciences from $32.00 to $33.00 and gave the stock a "buy" rating in a research report on Wednesday. Weiss Ratings upgraded shares of Pacira BioSciences from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, May 20th. Zacks Research raised Pacira BioSciences from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 7th. HC Wainwright restated a "buy" rating and set a $38.00 price target on shares of Pacira BioSciences in a report on Wednesday, July 1st. Finally, Royal Bank Of Canada boosted their price objective on shares of Pacira BioSciences from $24.00 to $25.00 and gave the company a "sector perform" rating in a research report on Wednesday. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Pacira BioSciences currently has a consensus rating of "Hold" and an average price target of $29.80.

Pacira BioSciences Trading Down 10.8%

The stock has a market capitalization of $969.74 million, a PE ratio of 205.77 and a beta of 0.27. The company has a current ratio of 4.73, a quick ratio of 3.35 and a debt-to-equity ratio of 0.56. The stock has a 50 day moving average price of $24.60 and a 200-day moving average price of $23.32.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last released its quarterly 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 return on equity of 10.24% and a net margin of 0.70%.The business had revenue of $192.40 million during the quarter, compared to the consensus estimate of $191.06 million. During the same period in the previous year, the company posted $0.74 EPS. The business's quarterly revenue was up 6.2% compared to the same quarter last year. Sell-side analysts expect that Pacira BioSciences, Inc. will post 1.94 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Lauren Riker sold 6,115 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $23.50, for a total value of $143,702.50. Following the completion of the sale, the senior vice president directly owned 62,284 shares of the company's stock, valued at $1,463,674. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.40% of the stock is owned by corporate insiders.

Institutional Trading of Pacira BioSciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. raised its position 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 valued at $39,000 after buying an additional 1,475 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in Pacira BioSciences during the fourth quarter valued at $48,000. Eurizon Capital SGR S.p.A. bought a new stake in Pacira BioSciences in the 4th quarter valued at $51,000. Global Retirement Partners LLC lifted its stake in Pacira BioSciences by 479.4% in the 4th quarter. Global Retirement Partners LLC now owns 2,028 shares of the company's stock worth $52,000 after purchasing an additional 1,678 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in Pacira BioSciences in the 1st quarter worth $46,000. Institutional investors own 99.73% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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