Lauren Riker, Senior Vice President at Pacira BioSciences, Inc., sold 1,416 shares of the company’s stock on January 5, 2024. The shares were sold at an average price of $24.24, resulting in a total transaction value of $34,323.84. Following this sale, Riker now owns 59,064 shares of the company, which are valued at approximately $1,431,711.36. This transaction reflects a 2.34% decrease in Riker’s holdings.
The sale was reported in a filing with the Securities and Exchange Commission, which is publicly accessible through the SEC website. This move aligns with common practices in corporate governance, where executives manage their stock portfolios.
Stock Performance and Market Position
On the following trading day, shares of Pacira BioSciences (NASDAQ:PCRX) experienced a slight increase, rising 0.8% to reach $25.31. During this trading session, the stock recorded a volume of 534,727 shares, significantly below its average volume of 813,509 shares. The company’s 50-day and 200-day simple moving averages are $24.30 and $24.22, respectively.
Pacira BioSciences has established a robust financial profile, boasting a market capitalization of $1.09 billion. The company’s current ratio stands at 5.26, while its quick ratio is 3.78, indicating a solid liquidity position. Additionally, the debt-to-equity ratio is 0.52, reflecting a manageable level of debt.
The share price has fluctuated over the past year, with a low of $18.18 and a high of $27.64.
Recent Earnings and Analyst Ratings
In its most recent earnings report, released on November 6, 2023, Pacira BioSciences reported earnings of $0.70 per share, surpassing analysts’ expectations of $0.65 by $0.05. The company achieved a net margin of 2.99% and a return on equity of 12.82%. Total revenue for the quarter reached $179.52 million, slightly below the consensus estimate of $182.86 million, but representing a 6.5% increase compared to the same period the previous year. Analysts project that Pacira BioSciences will report earnings of $2.41 per share for the current fiscal year.
Various research analysts have recently updated their ratings on Pacira BioSciences. Truist Financial lowered its target price from $30.00 to $28.00 while maintaining a “buy” rating. Barclays initiated coverage with an “equal weight” rating and a price target of $27.00. Additionally, HC Wainwright reaffirmed a “buy” rating, setting a target price of $38.00. In contrast, Weiss Ratings reiterated a “sell (d+)” rating. Overall, three analysts have assigned a “buy” rating, three have rated it as “hold,” and one has given it a “sell” rating. The consensus rating is currently “hold” with an average price target of $28.20.
Pacira BioSciences is a specialty pharmaceutical company focused on developing non-opioid pain management solutions. Its flagship product, EXPAREL, is designed for long-lasting postoperative pain relief and aims to reduce reliance on opioid medications. With ongoing developments in its product pipeline, the company seeks to address unmet needs in pain management and inflammation control.
Investors and interested parties can stay updated on Pacira BioSciences’ performance and analyst ratings by subscribing to MarketBeat’s daily summary newsletter.
