Paul J. Hastings Sells 880 Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) Stock

Pacira BioSciences, Inc. (NASDAQ:PCRX) Director Paul J. Hastings sold 880 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $28.38, for a total value of $24,974.40. Following the sale, the director now owns 12,724 shares of the company’s stock, valued at approximately $361,107.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Pacira BioSciences Price Performance

PCRX stock opened at $28.13 on Friday. The stock’s 50 day moving average is $28.52 and its two-hundred day moving average is $29.84. Pacira BioSciences, Inc. has a 52-week low of $25.33 and a 52-week high of $41.65. The company has a market capitalization of $1.31 billion, a PE ratio of 19.67 and a beta of 0.87. The company has a quick ratio of 4.78, a current ratio of 5.81 and a debt-to-equity ratio of 0.57.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). The company had revenue of $167.12 million during the quarter, compared to the consensus estimate of $165.43 million. Pacira BioSciences had a return on equity of 12.98% and a net margin of 10.34%. Analysts predict that Pacira BioSciences, Inc. will post 2.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PCRX shares. JPMorgan Chase & Co. assumed coverage on shares of Pacira BioSciences in a research note on Thursday, March 7th. They set an “overweight” rating and a $45.00 price objective for the company. Barclays lowered their price target on Pacira BioSciences from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, May 8th. Royal Bank of Canada reduced their price objective on Pacira BioSciences from $53.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, March 1st. Needham & Company LLC lowered their target price on Pacira BioSciences from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Finally, TheStreet raised Pacira BioSciences from a “d+” rating to a “c” rating in a research report on Thursday, February 29th. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Pacira BioSciences presently has an average rating of “Buy” and a consensus target price of $47.40.

Hedge Funds Weigh In On Pacira BioSciences

Large investors have recently modified their holdings of the stock. ICA Group Wealth Management LLC acquired a new position in shares of Pacira BioSciences in the 4th quarter worth approximately $30,000. Quadrant Capital Group LLC raised its position in shares of Pacira BioSciences by 61.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,324 shares of the company’s stock valued at $78,000 after acquiring an additional 885 shares in the last quarter. Natixis bought a new position in Pacira BioSciences during the first quarter worth $95,000. Cape Investment Advisory Inc. acquired a new position in Pacira BioSciences in the fourth quarter worth $97,000. Finally, SG Americas Securities LLC bought a new stake in Pacira BioSciences during the first quarter valued at $106,000. Institutional investors own 99.73% of the company’s stock.

About Pacira BioSciences

Pacira BioSciences, Inc engages in the development, manufacture, marketing, distribution, and sale of non-opioid pain management and regenerative health solutions to healthcare practitioners in the United States. The company offers EXPAREL, a bupivacaine liposome injectable suspension; ZILRETTA, a triamcinolone acetonide extended-release injectable suspension; and iovera system, a non-opioid handheld cryoanalgesia device used to produce controlled doses of cold temperature to targeted nerves.