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

Pacira BioSciences, Inc. (NASDAQ:PCRX)’s share price gapped up before the market opened 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 changing hands.

Wall Street Analysts Forecast Growth

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

Pacira BioSciences Stock Up 13.1 %

The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 36.26 and a beta of 0.77. The firm has a fifty day simple moving average of $28.28 and a 200-day simple moving average of $29.51. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.17 and a current ratio of 5.24.

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. Pacira BioSciences had a net margin of 6.22% and a return on equity of 12.81%. The business had revenue of $181.24 million during the quarter, compared to the consensus estimate of $180.60 million. As a group, sell-side analysts expect that Pacira BioSciences, Inc. will post 2.17 EPS for the current year.

Insider Buying and Selling

In related news, Director Gary W. Pace sold 1,066 shares of Pacira BioSciences stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $29.67, for a total value of $31,628.22. Following the transaction, the director now directly owns 140,384 shares of the company’s stock, valued at $4,165,193.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Gary W. Pace sold 90,000 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $30.60, for a total value of $2,754,000.00. Following the completion of the transaction, the director now directly owns 22,127 shares in the company, valued at approximately $677,086.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary W. Pace sold 1,066 shares of Pacira BioSciences stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $29.67, for a total transaction of $31,628.22. Following the sale, the director now 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 Trading of Pacira BioSciences

Large investors have recently bought and sold shares of the business. Vestal Point Capital LP bought a new position in shares of Pacira BioSciences during the 4th quarter worth approximately $40,488,000. Pacer Advisors Inc. boosted its position in shares of Pacira BioSciences by 397,487.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,041,679 shares of the company’s stock worth $35,146,000 after purchasing an additional 1,041,417 shares in the last quarter. Rubric Capital Management LP bought a new stake in Pacira BioSciences in the 3rd quarter valued at about $14,102,000. Frontier Capital Management Co. LLC raised its stake in Pacira BioSciences by 15.8% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,084,542 shares of the company’s stock worth $70,332,000 after buying an additional 285,045 shares during the period. Finally, Norges Bank bought a new position in Pacira BioSciences in the fourth quarter worth approximately $9,542,000. 99.73% of the stock is currently owned by institutional investors and hedge funds.

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.