Pacira BioSciences, Inc. (NASDAQ:PCRX) Short Interest Update

Pacira BioSciences, Inc. (NASDAQ:PCRX) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totalling 6,050,000 shares, a growth of 17.5% from the August 15th total of 5,150,000 shares. Based on an average daily trading volume, of 1,350,000 shares, the days-to-cover ratio is presently 4.5 days.

Insider Buying and Selling

In related news, CEO Frank D. Lee bought 8,264 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was purchased at an average cost of $12.10 per share, for a total transaction of $99,994.40. Following the transaction, the chief executive officer now owns 107,784 shares in the company, valued at approximately $1,304,186.40. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Frank D. Lee bought 8,264 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $12.10 per share, for a total transaction of $99,994.40. Following the transaction, the chief executive officer now owns 107,784 shares of the company’s stock, valued at $1,304,186.40. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan Slonin sold 2,836 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $28.25, for a total transaction of $80,117.00. Following the sale, the insider now owns 95,557 shares in the company, valued at approximately $2,699,485.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 11,176 shares of company stock valued at $136,240 and have sold 4,281 shares valued at $105,494. 6.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Pacira BioSciences

Several large investors have recently added to or reduced their stakes in PCRX. ICA Group Wealth Management LLC bought a new position in shares of Pacira BioSciences during the 4th quarter worth approximately $30,000. GAMMA Investing LLC raised its holdings in shares of Pacira BioSciences by 229.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,338 shares of the company’s stock worth $38,000 after acquiring an additional 932 shares during the last quarter. Park Place Capital Corp bought a new position in Pacira BioSciences in the 2nd quarter valued at about $46,000. Innealta Capital LLC acquired a new position in Pacira BioSciences during the 2nd quarter valued at about $50,000. Finally, nVerses Capital LLC increased its holdings in Pacira BioSciences by 800.0% during the 2nd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $51,000 after purchasing an additional 1,600 shares in the last quarter. Institutional investors and hedge funds own 99.73% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on PCRX. Barclays downgraded Pacira BioSciences from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $38.00 to $25.00 in a research note on Wednesday, July 3rd. StockNews.com downgraded shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Royal Bank of Canada downgraded Pacira BioSciences from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $37.00 to $14.00 in a report on Monday, August 12th. Needham & Company LLC cut their price target on Pacira BioSciences from $43.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, HC Wainwright dropped their price objective on shares of Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating for the company in a report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $24.78.

Pacira BioSciences Trading Up 6.3 %

Pacira BioSciences stock traded up $0.86 during mid-day trading on Tuesday, hitting $14.35. 983,485 shares of the stock were exchanged, compared to its average volume of 885,439. The stock has a market capitalization of $667.70 million, a price-to-earnings ratio of 10.03 and a beta of 0.84. Pacira BioSciences has a 12 month low of $11.16 and a 12 month high of $35.95. The company has a quick ratio of 5.70, a current ratio of 6.82 and a debt-to-equity ratio of 0.67. The firm’s fifty day simple moving average is $16.88 and its two-hundred day simple moving average is $24.26.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.11. Pacira BioSciences had a net margin of 9.21% and a return on equity of 13.22%. The business had revenue of $178.02 million for the quarter, compared to analysts’ expectations of $173.31 million. Analysts forecast that Pacira BioSciences will post 2.24 EPS for the current year.

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.