Pacira BioSciences (NASDAQ:PCRX) Stock Crosses Below 50 Day Moving Average – Should You Sell?

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $23.57 and traded as low as $23.32. Pacira BioSciences shares last traded at $23.36, with a volume of 395,656 shares traded.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PCRX. Royal Bank Of Canada upped their price objective on shares of Pacira BioSciences from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Barclays cut their target price on shares of Pacira BioSciences from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Thursday, March 26th. Wall Street Zen lowered shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. Weiss Ratings upgraded shares of Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. Finally, Needham & Company LLC upped their target price on shares of Pacira BioSciences from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $29.40.

Pacira BioSciences Stock Down 0.3%

The stock has a 50-day moving average of $23.57 and a two-hundred day moving average of $23.27. The company has a market cap of $919.22 million, a P/E ratio of 194.68 and a beta of 0.29. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.35 and a current ratio of 4.73.

Pacira BioSciences (NASDAQ:PCRX) last issued its earnings results on Thursday, April 30th. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). The business had revenue of $177.38 million during the quarter, compared to analysts’ expectations of $171.80 million. Pacira BioSciences had a return on equity of 10.24% and a net margin of 0.70%.Pacira BioSciences’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.65 EPS. On average, research analysts anticipate that Pacira BioSciences, Inc. will post 1.91 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Shawn Cross sold 12,941 shares of Pacira BioSciences stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $25.16, for a total value of $325,595.56. Following the transaction, the chief financial officer owned 105,341 shares in the company, valued at $2,650,379.56. This trade represents a 10.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Slonin sold 3,261 shares of Pacira BioSciences stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $22.82, for a total value of $74,416.02. Following the completion of the transaction, the insider directly owned 223,640 shares in the company, valued at $5,103,464.80. This trade represents a 1.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 28,261 shares of company stock worth $702,610. 6.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Hantz Financial Services Inc. lifted its holdings in Pacira BioSciences by 175.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,132 shares of the company’s stock worth $29,000 after buying an additional 721 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Pacira BioSciences by 5,900.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,500 shares of the company’s stock worth $39,000 after purchasing an additional 1,475 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Pacira BioSciences in the 4th quarter worth $48,000. Eurizon Capital SGR S.p.A. bought a new position in Pacira BioSciences in the 4th quarter worth $51,000. Finally, Global Retirement Partners LLC raised its holdings in Pacira BioSciences by 479.4% in the 4th quarter. Global Retirement Partners LLC now owns 2,028 shares of the company’s stock worth $52,000 after purchasing an additional 1,678 shares in the last quarter. 99.73% of the stock is owned by hedge funds and other institutional investors.

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.