Pacira BioSciences (NASDAQ:PCRX) Shares Gap Up to $26.51

Pacira BioSciences, Inc. (NASDAQ:PCRX) shares gapped up prior to trading on Wednesday . The stock had previously closed at $26.51, but opened at $28.90. Pacira BioSciences shares last traded at $29.46, with a volume of 611,203 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PCRX shares. Royal Bank of Canada decreased their price target on shares of Pacira BioSciences from $53.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, March 1st. HC Wainwright reiterated a “buy” rating and set a $57.00 price target on shares of Pacira BioSciences in a report on Monday, March 4th. Needham & Company LLC lowered their price objective on Pacira BioSciences from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Wednesday. Wedbush reiterated an “outperform” rating and set a $57.00 price target on shares of Pacira BioSciences in a research note on Thursday, February 8th. Finally, TheStreet raised shares of Pacira BioSciences from a “d+” rating to a “c” rating in a research note on Thursday, February 29th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $49.30.

Pacira BioSciences Trading Up 13.1 %

The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 36.26 and a beta of 0.77. The company has a quick ratio of 4.17, a current ratio of 5.24 and a debt-to-equity ratio of 0.59. The company’s fifty day simple moving average is $28.28 and its two-hundred day simple moving average is $29.51.

Pacira BioSciences (NASDAQ:PCRX) last announced its earnings results on Thursday, February 29th. The company reported $0.71 EPS for the quarter, hitting the consensus estimate of $0.71. The firm had revenue of $181.24 million for the quarter, compared to the consensus estimate of $180.60 million. Pacira BioSciences had a net margin of 6.22% and a return on equity of 12.81%. Research analysts forecast that Pacira BioSciences, Inc. will post 2.17 earnings per share for the current fiscal year.

Insider Activity at Pacira BioSciences

In other news, Director Gary W. Pace sold 90,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $30.60, for a total transaction of $2,754,000.00. Following the completion of the sale, the director now owns 22,127 shares in the company, valued at $677,086.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Gary W. Pace sold 90,000 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $30.60, for a total value of $2,754,000.00. Following the completion of the sale, the director now owns 22,127 shares of the company’s stock, valued at $677,086.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gary W. Pace sold 1,066 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $29.67, for a total transaction of $31,628.22. Following the transaction, the director now directly owns 140,384 shares in the company, valued at $4,165,193.28. The disclosure for this sale can be found here. 6.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pacira BioSciences

Institutional investors have recently made changes to their positions in the stock. ICA Group Wealth Management LLC acquired a new stake in shares of Pacira BioSciences during the 4th quarter worth approximately $30,000. China Universal Asset Management Co. Ltd. grew its position in Pacira BioSciences by 96.8% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,185 shares of the company’s stock valued at $36,000 after acquiring an additional 583 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Pacira BioSciences by 310.9% during the third quarter. Nisa Investment Advisors LLC now owns 2,001 shares of the company’s stock worth $61,000 after acquiring an additional 1,514 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Pacira BioSciences by 61.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,324 shares of the company’s stock worth $78,000 after acquiring an additional 885 shares during the last quarter. Finally, Cape Investment Advisory Inc. acquired a new stake in shares of Pacira BioSciences in the 4th quarter valued at approximately $97,000. 99.73% of the stock is currently owned by institutional investors.

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.