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

Pacira BioSciences, Inc. (NASDAQ:PCRX) was the recipient of a significant increase in short interest in 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 Transactions at Pacira BioSciences

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC increased its position in shares of Pacira BioSciences by 1,780.2% in the 1st quarter. Jane Street Group LLC now owns 187,531 shares of the company’s stock valued at $5,480,000 after acquiring an additional 177,557 shares during the period. Legato Capital Management LLC increased its holdings in shares of Pacira BioSciences by 74.0% in the second quarter. Legato Capital Management LLC now owns 52,913 shares of the company’s stock valued at $1,514,000 after purchasing an additional 22,497 shares during the period. Cobalt Capital Management Inc. acquired a new position in shares of Pacira BioSciences in the fourth quarter valued at about $3,037,000. Bridge City Capital LLC purchased a new position in shares of Pacira BioSciences in the first quarter worth about $1,810,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of Pacira BioSciences during the fourth quarter worth about $4,521,000. Institutional investors and hedge funds own 99.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. HC Wainwright cut their price target on Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating for the company in a report on Monday, August 12th. Royal Bank of Canada lowered shares of Pacira BioSciences from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $37.00 to $14.00 in a report on Monday, August 12th. Barclays downgraded shares of Pacira BioSciences from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $38.00 to $25.00 in a research note on Wednesday, July 3rd. Piper Sandler downgraded shares of Pacira BioSciences from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $42.00 to $11.00 in a report on Monday, August 12th. Finally, StockNews.com cut shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Pacira BioSciences presently has a consensus rating of “Hold” and a consensus price target of $24.78.

Pacira BioSciences Stock Up 1.4 %

PCRX traded up $0.19 on Tuesday, hitting $13.68. The company had a trading volume of 30,639 shares, compared to its average volume of 880,112. The stock has a fifty day moving average price of $17.01 and a 200-day moving average price of $24.37. Pacira BioSciences has a 12-month low of $11.16 and a 12-month high of $35.95. The company has a debt-to-equity ratio of 0.67, a quick ratio of 5.70 and a current ratio of 6.82. The stock has a market capitalization of $636.75 million, a price-to-earnings ratio of 9.43 and a beta of 0.84.

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