Traders Purchase High Volume of Put Options on Pacira BioSciences (NASDAQ:PCRX)

Pacira BioSciences, Inc. (NASDAQ:PCRX) saw unusually large options trading activity on Tuesday. Traders purchased 5,734 put options on the company. This represents an increase of 1,898% compared to the typical daily volume of 287 put options.

Analysts Set New Price Targets

Several equities research analysts have commented on PCRX shares. Needham & Company LLC dropped their price target on shares of Pacira BioSciences from $45.00 to $43.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Barclays lowered their target price on Pacira BioSciences from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. JPMorgan Chase & Co. assumed coverage on Pacira BioSciences in a research report on Thursday, March 7th. They set an “overweight” rating and a $45.00 price target for the company. Finally, HC Wainwright reissued a “buy” rating and set a $57.00 price target on shares of Pacira BioSciences in a report on Wednesday, May 8th. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $47.40.

Insider Transactions at Pacira BioSciences

In related news, COO Daryl Gaugler sold 1,000 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $28.38, for a total transaction of $28,380.00. Following the sale, the chief operating officer now owns 116,040 shares in the company, valued at $3,293,215.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, COO Daryl Gaugler sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $28.38, for a total transaction of $28,380.00. Following the completion of the transaction, the chief operating officer now owns 116,040 shares in the company, valued at approximately $3,293,215.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Lauren Riker sold 3,970 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $28.72, for a total value of $114,018.40. Following the completion of the sale, the senior vice president now directly owns 38,075 shares in the company, valued at $1,093,514. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,314 shares of company stock worth $522,053. 6.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. abrdn plc grew its holdings in shares of Pacira BioSciences by 14.3% in the 4th quarter. abrdn plc now owns 448,691 shares of the company’s stock worth $15,139,000 after acquiring an additional 56,081 shares during the last quarter. Gradient Investments LLC increased its stake in Pacira BioSciences by 33.0% in the 4th quarter. Gradient Investments LLC now owns 139,949 shares of the company’s stock worth $4,722,000 after purchasing an additional 34,723 shares in the last quarter. Cobalt Capital Management Inc. purchased a new position in Pacira BioSciences in the 4th quarter worth about $3,037,000. National Bank of Canada FI acquired a new stake in Pacira BioSciences during the 4th quarter worth about $966,000. Finally, Bridge City Capital LLC purchased a new stake in Pacira BioSciences during the first quarter valued at about $1,810,000. Institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Price Performance

NASDAQ:PCRX traded down $6.93 during mid-day trading on Tuesday, reaching $21.53. 5,199,188 shares of the stock were exchanged, compared to its average volume of 671,486. The company has a current ratio of 5.81, a quick ratio of 4.78 and a debt-to-equity ratio of 0.57. The business has a fifty day moving average price of $28.77 and a 200 day moving average price of $29.84. Pacira BioSciences has a 1-year low of $20.52 and a 1-year high of $40.45. The firm has a market capitalization of $1.00 billion, a PE ratio of 16.10 and a beta of 0.88.

Pacira BioSciences (NASDAQ:PCRX) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.04). Pacira BioSciences had a return on equity of 12.98% and a net margin of 10.34%. The business had revenue of $167.12 million during the quarter, compared to analyst estimates of $165.43 million. Research analysts expect that Pacira BioSciences will post 2.13 earnings per share for the current fiscal year.

Pacira BioSciences Company Profile

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.