Stock Traders Purchase High Volume of Pacira BioSciences Call Options (NASDAQ:PCRX)

Pacira BioSciences, Inc. (NASDAQ:PCRX) was the target of some unusual options trading activity on Wednesday. Stock traders purchased 1,981 call options on the stock. This represents an increase of approximately 416% compared to the average volume of 384 call options.

Insider Activity at Pacira BioSciences

In other news, SVP Lauren Riker sold 3,970 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $28.72, for a total transaction of $114,018.40. Following the transaction, the senior vice president now owns 38,075 shares in the company, valued at $1,093,514. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Jonathan Slonin sold 5,012 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $28.57, for a total transaction of $143,192.84. Following the transaction, the insider now owns 44,569 shares in the company, valued at $1,273,336.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Lauren Riker sold 3,970 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $28.72, for a total transaction of $114,018.40. Following the transaction, the senior vice president now owns 38,075 shares in the company, valued at approximately $1,093,514. The disclosure for this sale can be found here. Insiders have sold a total of 18,314 shares of company stock worth $522,053 over the last quarter. Company insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Vestal Point Capital LP bought a new position in Pacira BioSciences in the 4th quarter worth approximately $40,488,000. Pacer Advisors Inc. boosted its holdings in Pacira BioSciences by 397,487.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,041,679 shares of the company’s stock worth $35,146,000 after buying an additional 1,041,417 shares during the period. Archon Capital Management LLC bought a new position in Pacira BioSciences in the 1st quarter worth approximately $15,677,000. Rubric Capital Management LP bought a new position in Pacira BioSciences in the 3rd quarter worth approximately $14,102,000. Finally, Frontier Capital Management Co. LLC boosted its holdings in Pacira BioSciences by 15.8% in the 4th quarter. Frontier Capital Management Co. LLC now owns 2,084,542 shares of the company’s stock worth $70,332,000 after buying an additional 285,045 shares during the period. 99.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Barclays lowered shares of Pacira BioSciences from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $38.00 to $25.00 in a report on Wednesday. HC Wainwright restated a “buy” rating and issued a $57.00 target price on shares of Pacira BioSciences in a report on Tuesday. JPMorgan Chase & Co. assumed coverage on shares of Pacira BioSciences in a report on Thursday, March 7th. They issued an “overweight” rating and a $45.00 target price on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $43.00 target price on shares of Pacira BioSciences in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Pacira BioSciences presently has an average rating of “Moderate Buy” and a consensus price target of $46.10.

Pacira BioSciences Stock Down 5.1 %

PCRX stock traded down $1.15 during trading on Wednesday, reaching $21.59. The stock had a trading volume of 676,110 shares, compared to its average volume of 702,461. Pacira BioSciences has a one year low of $20.52 and a one year high of $40.16. The company has a quick ratio of 4.78, a current ratio of 5.81 and a debt-to-equity ratio of 0.57. The company’s 50 day moving average is $28.69 and its two-hundred day moving average is $29.78. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 15.90 and a beta of 0.88.

Pacira BioSciences (NASDAQ:PCRX) last released its earnings results on Tuesday, May 7th. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). Pacira BioSciences had a net margin of 10.34% and a return on equity of 12.98%. The company had revenue of $167.12 million for the quarter, compared to the consensus estimate of $165.43 million. Equities research analysts forecast that Pacira BioSciences will post 2.13 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.