Pacira BioSciences Inc (NASDAQ: PCRX) stock fell -0.79% on Monday to $27.67 against a previous-day closing price of $27.89. With 0.55 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.5 million shares. During the session, the Drug Manufacturers – Specialty & Generic company that operates in wider Healthcare sector, reached to the highest price of $28.44 whereas the lowest price it dropped to was $27.42. The 52-week range on PCRX shows that it touched its highest point at $50.11 and its lowest point at $26.59 during that stretch. It currently has a 1-year price target of $49.11. Beta for the stock currently stands at 0.74.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PCRX was down-trending over the past week, with a drop of -1.60%, but this was down by -2.95% over a month. Three-month performance dropped to -26.95% while six-month performance fell -33.26%. The stock lost -41.75% in the past year, while it has lost -28.33% so far this year. A look at the trailing 12-month EPS for PCRX yields 0.08 with Next year EPS estimates of 3.51. For the next quarter, that number is 0.84. This implies an EPS growth rate of 9.98% for this year and 23.34% for next year.
Float and Shares Shorts:
At present, 45.93 million PCRX shares are outstanding with a float of 45.11 million shares on hand for trading. On Oct 30, 2023, short shares totaled 3.59 million, which was 7.72% higher than short shares on Sep 28, 2023. In addition to Mr. David M. Stack as the firm’s Chairman & CEO, Mr. Charles A. Reinhart III, CPA, M.B.A. serves as its Chief Financial Officer.
Through their ownership of 105.82% of PCRX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 61.43% of PCRX, in contrast to 42.98% held by mutual funds. Shares owned by individuals account for 12.39%. As the largest shareholder in PCRX with 14.61% of the stake, BlackRock Fund Advisors holds 6,781,722 shares worth 6,781,722. A second-largest stockholder of PCRX, The Vanguard Group, Inc., holds 4,826,496 shares, controlling over 10.40% of the firm’s shares. Frontier Capital Management Co. L is the third largest shareholder in PCRX, holding 1,799,497 shares or 3.88% stake. With a 6.73% stake in PCRX, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 3,122,770 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.99% of PCRX stock, is the second-largest Mutual Fund holder. It holds 1,388,275 shares valued at 39.23 million. Vanguard Small Cap Index Fund holds 2.45% of the stake in PCRX, owning 1,137,653 shares worth 32.15 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PCRX since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With PCRX analysts setting a high price target of $58.00 and a low target of $38.00, the average target price over the next 12 months is $49.11. Based on these targets, PCRX could surge 109.61% to reach the target high and rise by 37.33% to reach the target low. Reaching the average price target will result in a growth of 77.48% from current levels.
Summary of Insider Activity:
Insiders traded PCRX stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 17 while that of sell transactions has risen to 38 over the past year. The total number of shares bought during that period was 132,750 while 90,177 shares were sold.