Key Points
- CFO Shawn Cross sold 12,941 shares on April 23 at an average price of $25.16 for ~$325,596, reducing his stake by 10.94% to 105,341 shares; the transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
- Pacira missed quarterly expectations with EPS of $0.57 vs. $0.85 expected and revenue of $196.87M vs. $201.93M, and the stock traded down about 3.4%; the company has a market cap near $992M and a high P/E (~163).
- Analyst views are mixed (three Buys, two Holds, one Sell) with a consensus Hold rating and an average target of $30.25, while several hedge funds (Doma, Balyasny, Goldman) have recently increased stakes and institutional ownership stands at ~99.7%.
Pacira BioSciences, Inc. (NASDAQ:PCRX - Get Free Report) CFO Shawn Cross sold 12,941 shares of the business's stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $25.16, for a total transaction of $325,595.56. Following the completion of the sale, the chief financial officer owned 105,341 shares of the company's stock, valued at approximately $2,650,379.56. This represents a 10.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 shares were sold at an average price of $25.01, for a total transaction of $71,153.45.
- 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 stock was sold at an average price of $25.14, for a total transaction of $193,929.96.
Pacira BioSciences Stock Down 3.4%
Pacira BioSciences stock opened at $24.51 on Friday. 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 firm has a market cap of $992.41 million, a P/E ratio of 163.40 and a beta of 0.19. The business has a fifty day moving average of $23.09 and a two-hundred day moving average of $23.08. Pacira BioSciences, Inc. has a twelve month low of $18.80 and a twelve month high of $27.64.
Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last released its quarterly 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 during the quarter, compared to the consensus estimate of $201.93 million. Pacira BioSciences had a return on equity of 10.39% and a net margin of 0.97%.The company's revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.91 earnings per share. On average, analysts forecast that Pacira BioSciences, Inc. will post 1.85 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Pacira BioSciences
Several hedge funds have recently modified their holdings of PCRX. Doma Perpetual Capital Management LLC increased its holdings in shares of 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 valued at $69,613,000 after acquiring an additional 897,255 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in 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 worth $50,925,000 after purchasing an additional 565,288 shares in the last quarter. Goldman Sachs Group Inc. grew its position in 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 purchasing an additional 367,869 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new stake in Pacira BioSciences during the 4th quarter worth approximately $7,976,000. Finally, LSV Asset Management increased its stake in Pacira BioSciences by 179.8% during the 4th quarter. LSV Asset Management now owns 319,800 shares of the company's stock valued at $8,276,000 after purchasing an additional 205,500 shares in the last quarter. Institutional investors and hedge funds own 99.73% of the company's stock.
Analysts Set New Price Targets
A number of research firms have recently weighed in on PCRX. Barclays lowered their price target on shares of Pacira BioSciences from $27.00 to $25.00 and set an "equal weight" rating on the stock in a report on Thursday, March 26th. Wall Street Zen cut shares of Pacira BioSciences from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 28th. HC Wainwright restated a "buy" rating and issued a $38.00 target price on shares of Pacira BioSciences in a research note on Friday, January 9th. Needham & Company LLC reaffirmed a "buy" rating and set a $30.00 price target on shares of Pacira BioSciences in a research report on Friday, January 9th. Finally, Zacks Research upgraded Pacira BioSciences from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 7th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $30.25.
View Our Latest Analysis on PCRX
About Pacira BioSciences
(
Get Free Report)
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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