Shawn Cross Sells 2,845 Shares of Pacira BioSciences (NASDAQ:PCRX) Stock

Key Points

• CFO Shawn Cross sold a total of 12,059 Pacira shares across April 20–22 (including 2,845 on April 21) at roughly $25 per share under a pre-arranged Rule 10b5-1 plan, trimming his stake to 105,341 shares (down 2.63%) valued at about $2.63M.
• Pacira (PCRX) traded at $24.88 (+1.0%) with a ~$1.01B market cap; the company recently missed quarterly EPS estimates ($0.57 vs. $0.85) and carries a consensus analyst rating of Hold with a $30.25 price target.

Pacira BioSciences, Inc. (NASDAQ:PCRX - Get Free Report) CFO Shawn Cross sold 2,845 shares of the business's stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $25.01, for a total transaction of $71,153.45. Following the sale, the chief financial officer owned 105,341 shares in the company, valued at $2,634,578.41. This represents a 2.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Shawn Cross also recently made the following trade(s):

• On Wednesday, April 22nd, Shawn Cross sold 1,500 shares of Pacira BioSciences stock. The shares were sold at an average price of $25.01, for a total transaction of $37,515.00.
• On Monday, April 20th, Shawn Cross sold 7,714 shares of Pacira BioSciences stock. The shares were sold at an average price of $25.14, for a total transaction of $193,929.96.

Pacira BioSciences Stock Up 1.0%

PCRX traded up $0.24 on Wednesday, reaching $24.88. 360,574 shares of the company traded hands, compared to its average volume of 478,222. The stock's 50 day moving average price is $22.96 and its 200-day moving average price is $23.06. 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 $1.01 billion, a price-to-earnings ratio of 165.87 and a beta of 0.19. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.54 and a quick ratio of 3.28.

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

Institutional Trading of Pacira BioSciences

A number of hedge funds have recently bought and sold shares of PCRX. Foster & Motley Inc. raised its stake in shares of Pacira BioSciences by 38.8% in the 1st quarter. Foster & Motley Inc. now owns 57,000 shares of the company's stock valued at $1,288,000 after buying an additional 15,943 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Pacira BioSciences in the 1st quarter valued at $411,000. SG Americas Securities LLC raised its stake in shares of Pacira BioSciences by 28.0% in the 1st quarter. SG Americas Securities LLC now owns 24,303 shares of the company's stock valued at $549,000 after buying an additional 5,315 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of Pacira BioSciences by 7.7% in the 4th quarter. Hsbc Holdings PLC now owns 18,416 shares of the company's stock valued at $479,000 after buying an additional 1,316 shares in the last quarter. Finally, Vident Advisory LLC raised its stake in shares of Pacira BioSciences by 15.0% in the 4th quarter. Vident Advisory LLC now owns 23,571 shares of the company's stock valued at $610,000 after buying an additional 3,075 shares in the last quarter. 99.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PCRX shares. Wall Street Zen lowered shares of Pacira BioSciences from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 28th. Barclays reduced their price objective on shares of Pacira BioSciences from $27.00 to $25.00 and set an "equal weight" rating for the company in a research note on Thursday, March 26th. Needham & Company LLC reaffirmed a "buy" rating and issued a $30.00 price objective on shares of Pacira BioSciences in a research note on Friday, January 9th. Zacks Research raised shares of Pacira BioSciences from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 7th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $38.00 price objective on shares of Pacira BioSciences in a research note on Friday, January 9th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus 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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