Short Interest in Pacira BioSciences, Inc. (NASDAQ:PCRX) Grows By 17.5%

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

Insider Buying and Selling

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

Hedge Funds Weigh In On Pacira BioSciences

A number of hedge funds have recently made changes to their positions in PCRX. ICA Group Wealth Management LLC acquired a new position in shares of Pacira BioSciences in the fourth quarter worth $30,000. GAMMA Investing LLC raised its position in Pacira BioSciences by 229.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,338 shares of the company’s stock valued at $38,000 after purchasing an additional 932 shares in the last quarter. Park Place Capital Corp purchased a new position in shares of Pacira BioSciences in the 2nd quarter valued at about $46,000. Innealta Capital LLC acquired a new position in shares of Pacira BioSciences during the second quarter worth about $50,000. Finally, nVerses Capital LLC increased its stake in shares of Pacira BioSciences by 800.0% during the second quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $51,000 after buying an additional 1,600 shares during the period. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on PCRX shares. HC Wainwright cut their target price on Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Barclays cut shares of Pacira BioSciences from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $38.00 to $25.00 in a report on Wednesday, July 3rd. Raymond James cut shares of Pacira BioSciences from an “outperform” rating to a “market perform” rating in a research report on Monday, August 12th. StockNews.com lowered shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, Truist Financial downgraded shares of Pacira BioSciences from a “buy” rating to a “sell” rating and reduced their price objective for the stock from $30.00 to $8.00 in a research note on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $24.78.

Pacira BioSciences Price Performance

Shares of PCRX stock traded up $0.86 on Tuesday, reaching $14.35. 983,485 shares of the company were exchanged, compared to its average volume of 885,439. The company has a debt-to-equity ratio of 0.67, a quick ratio of 5.70 and a current ratio of 6.82. Pacira BioSciences has a 1 year low of $11.16 and a 1 year high of $35.95. The company has a market cap of $667.70 million, a price-to-earnings ratio of 10.03 and a beta of 0.84. The business has a 50-day moving average price of $16.88 and a 200 day moving average price of $24.26.

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