Pacira BioSciences, Inc.
PCRX · Pharmaceutical Preparations · 39.3M shares · +6%/yr ↑ dilution · EDGAR filings ↗
Reference price $23.50 · est. market cap ~$925M — last insider sale, 2026-06-11 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C64Non-opioid pain pharma (Exparel/Zilretta) near breakeven with strong free cash flow.
Strengths
- Strong free cash flow — FCF $137M (89th), FCF margin 19%
- High gross margin — 79%
- Strong liquidity — current ratio 4.5 (56th)
Risks
- Near-zero net result — operating margin 3%, net income low (charge-driven)
- Exparel-patent/competition risk — per 10-K
- Leverage — D/E 0.5 (68th)
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Customer concentration~79% of revenue from one customer/distributor — During 2025, sales of EXPAREL accounted for 79% of our total revenue, and we expect EXPAREL sales will remain of primary importance for the foreseeable future
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Strong balance sheetStrong balance sheet — $238M cash & investments
- Notable holderHeld by 5 notable fund(s): STATE STREET CORP, RENAISSANCE TECHNOLOGIES LLC, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
- Insider sellingInsider selling — 11 open-market sale(s) by 5 insider(s) (cluster of 5 insiders, ~$1M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
79.4%
Operating margin
2.6%
Net margin
1.0%
Return on equity
1.0%
Return on assets
0.6%
ROIC
1.4%
Revenue growth (QoQ)
-9.9%
Debt / equity
0.5×
Net debt / EBITDA
1.2×
Current ratio
4.5×
Free cash flow
$137M
EBITDA
$110M
Tangible book value
$305M
Cash & investments
$238M
Stock comp / revenue
7.9%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-11 | RIKER LAUREN | Sell | 6.1K | $23.50 |
| 2026-06-10 | Hirawat Samit | Grant | 6.4K | — |
| 2026-06-10 | CHRISTIE CHRISTOPHER | Grant | 6.4K | — |
| 2026-06-10 | Young Alethia | Grant | 6.4K | — |
| 2026-06-10 | YANG MICHAEL J. | Grant | 6.4K | — |
| 2026-06-10 | BIGAL MARCELO | Grant | 6.4K | — |
| 2026-06-10 | Froimson Mark | Grant | 6.4K | — |
| 2026-06-10 | Brege Laura | Grant | 6.4K | — |
| 2026-06-04 | WILLIAMS KRISTEN | Sell | 10K | $22.27 |
| 2026-06-03 | RIKER LAUREN | Tax withheld | 3.2K | $22.32 |
| 2026-06-03 | SLONIN JONATHAN | Tax withheld | 4.7K | $22.32 |
| 2026-06-03 | WILLIAMS KRISTEN | Tax withheld | 8.5K | $22.32 |
| 2026-04-23 | Cross Shawn | Option exercise | 13K | $16.45 |
| 2026-04-23 | Cross Shawn | Sell | 13K | $25.16 |
| 2026-04-22 | Cross Shawn | Option exercise | 1.5K | $16.45 |
| 2026-04-22 | Cross Shawn | Sell | 1.5K | $25.01 |
| 2026-04-21 | Cross Shawn | Sell | 2.8K | $25.01 |
| 2026-04-21 | Cross Shawn | Option exercise | 2.8K | $16.45 |
| 2026-04-20 | Cross Shawn | Sell | 7.7K | $25.14 |
| 2026-04-20 | Cross Shawn | Option exercise | 7.7K | $16.45 |
| 2026-03-17 | Froimson Mark | Sell | 500 | $21.81 |
| 2026-03-17 | SLONIN JONATHAN | Sell | 3.3K | $22.82 |
| 2026-02-11 | WILLIAMS KRISTEN | Grant | 55K | — |
| 2026-02-11 | Teehan Brendan | Grant | 52K | — |
| 2026-02-11 | Cross Shawn | Grant | 49K | — |
| 2026-02-11 | SLONIN JONATHAN | Grant | 55K | — |
| 2026-02-11 | Lee Frank D. | Grant | 262K | — |
| 2026-02-11 | RIKER LAUREN | Grant | 19K | — |
| 2026-02-02 | RIKER LAUREN | Sell | 4.0K | $20.81 |
| 2026-02-02 | WILLIAMS KRISTEN | Sell | 13K | $20.53 |
| 2026-01-30 | Lee Frank D. | Tax withheld | 41K | $20.54 |
| 2026-01-30 | RIKER LAUREN | Tax withheld | 2.8K | $20.54 |
| 2026-01-30 | WILLIAMS KRISTEN | Tax withheld | 17K | $20.54 |
| 2026-01-30 | SLONIN JONATHAN | Tax withheld | 6.2K | $20.54 |
| 2026-01-30 | Teehan Brendan | Tax withheld | 5.2K | $20.54 |
| 2026-01-05 | RIKER LAUREN | Sell | 1.4K | $24.24 |
| 2026-01-02 | RIKER LAUREN | Tax withheld | 159 | $24.46 |
| 2026-01-02 | SLONIN JONATHAN | Tax withheld | 381 | $24.46 |
| 2026-01-02 | Lee Frank D. | Tax withheld | 9.3K | $24.46 |
| 2025-12-31 | Teehan Brendan | Grant | 402 | $10.76 |
| 2025-12-10 | Cross Shawn | Sell | 9.1K | $25.14 |
| 2025-12-10 | Cross Shawn | Option exercise | 9.1K | $16.45 |
| 2025-12-09 | Cross Shawn | Sell | 16K | $25.03 |
| 2025-12-09 | Cross Shawn | Option exercise | 16K | $16.45 |
| 2025-11-17 | SLONIN JONATHAN | Sell | 4.0K | $24.09 |
| 2025-11-10 | Cross Shawn | Sell | 12K | $22.09 |
| 2025-10-31 | Cross Shawn | Tax withheld | 6.7K | $21.38 |
| 2025-09-04 | Ceesay Abraham | Sell | 2.4K | $27.19 |
| 2025-08-07 | BIGAL MARCELO | Sell | 4.9K | $23.67 |
| 2025-08-01 | SLONIN JONATHAN | Tax withheld | 315 | $22.07 |
| 2025-06-11 | Kronenfeld Mark A. | Grant | 6.2K | — |
| 2025-06-11 | Kronenfeld Mark A. | Grant | 10.0K | — |
| 2025-06-11 | Ceesay Abraham | Grant | 6.2K | — |
| 2025-06-11 | Froimson Mark | Grant | 6.2K | — |
| 2025-06-11 | BIGAL MARCELO | Grant | 6.2K | — |
| 2025-06-11 | YANG MICHAEL J. | Grant | 6.2K | — |
| 2025-06-11 | CHRISTIE CHRISTOPHER | Grant | 6.2K | — |
| 2025-06-11 | Young Alethia | Grant | 6.2K | — |
| 2025-06-11 | Brege Laura | Grant | 6.2K | — |
| 2025-06-04 | RIKER LAUREN | Sell | 5.6K | $26.21 |
| 2025-06-04 | WILLIAMS KRISTEN | Sell | 14K | $26.24 |
| 2025-06-03 | WILLIAMS KRISTEN | Tax withheld | 6.2K | $26.40 |
| 2025-06-03 | RIKER LAUREN | Tax withheld | 3.4K | $26.40 |
| 2025-06-03 | SLONIN JONATHAN | Tax withheld | 5.1K | $26.40 |
| 2025-02-01 | Lee Frank D. | Grant | 350K | — |
| 2025-02-01 | SLONIN JONATHAN | Grant | 94K | — |
| 2025-02-01 | WILLIAMS KRISTEN | Grant | 79K | — |
| 2025-02-01 | Teehan Brendan | Grant | 54K | — |
| 2025-02-01 | RIKER LAUREN | Grant | 31K | — |
| 2025-01-06 | SLONIN JONATHAN | Sell | 879 | $18.40 |
| 2025-01-02 | Lee Frank D. | Tax withheld | 9.4K | $18.33 |
| 2025-01-02 | SLONIN JONATHAN | Tax withheld | 371 | $18.33 |
| 2025-01-02 | RIKER LAUREN | Tax withheld | 159 | $18.33 |
| 2024-12-31 | GAUGLER DARYL | Grant | 244 | $16.01 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-11 | Exec/director changeShareholder voteOtherExhibits | filing ↗ |
| 2026-04-30 | ResultsExhibits | filing ↗ |
| 2026-02-26 | ResultsExhibits | filing ↗ |
| 2026-01-28 | Exec/director changeReg FDExhibits | filing ↗ |
| 2026-01-08 | ResultsExhibits | filing ↗ |
| 2025-11-06 | ResultsExhibits | filing ↗ |
| 2025-08-05 | ResultsExhibits | filing ↗ |
| 2025-07-10 | 2.05Reg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-11 | 2026-06-09 | 0001628280-26-042525 ↗ |
| 10-Q | 2026-04-30 | 2026-03-31 | 0001628280-26-028871 ↗ |
| 8-K | 2026-04-30 | 2026-04-30 | 0001628280-26-028854 ↗ |
| 10-K | 2026-02-26 | 2025-12-31 | 0001628280-26-012297 ↗ |
| 8-K | 2026-02-26 | 2026-02-26 | 0001628280-26-012238 ↗ |
| 8-K | 2026-01-28 | 2026-01-27 | 0001628280-26-003717 ↗ |
| 8-K | 2026-01-08 | 2026-01-08 | 0001628280-26-001335 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0001628280-25-050145 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001628280-25-050176 ↗ |
| 10-Q | 2025-08-05 | 2025-06-30 | 0001396814-25-000102 ↗ |
| 8-K | 2025-08-05 | 2025-08-05 | 0001396814-25-000100 ↗ |
| 8-K | 2025-07-10 | 2025-07-09 | 0001396814-25-000093 ↗ |