Pacira BioSciences, Inc. (NASDAQ:PCRX) Stock Short Interest Report for October

Pacira BioSciences, Inc. (NASDAQ:PCRX) was the target of a significant decline in short interest in the month of October. As of October 15th, there was short interest totaling 4,260,076 shares, a decline of 47.3% from the September 30th total of 8,076,461 shares. Based on an average daily volume of 3,933,128 shares, the short-interest ratio is presently 1.1 days. Approximately 11.4% of the company’s shares are sold short.

Insider Transactions at Pacira BioSciences

In related news, insider Jonathan Slonin sold 3,040 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $23.23, for a total value of $70,619.20. Following the completion of the sale, the insider owned 216,384 shares in the company, valued at approximately $5,026,600.32. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Lauren Riker sold 6,000 shares of the stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $36.32, for a total value of $217,920.00. Following the completion of the transaction, the senior vice president directly owned 62,284 shares in the company, valued at $2,262,154.88. The trade was a 8.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PCRX. Bridge City Capital LLC increased its position in shares of Pacira BioSciences by 12.9% during the third quarter. Bridge City Capital LLC now owns 352,738 shares of the company’s stock worth $8,836,000 after acquiring an additional 40,441 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Pacira BioSciences in the 3rd quarter valued at $51,000. Profund Advisors LLC lifted its position in Pacira BioSciences by 324.7% in the 3rd quarter. Profund Advisors LLC now owns 55,354 shares of the company’s stock valued at $1,387,000 after acquiring an additional 42,319 shares in the last quarter. State of Wyoming boosted its stake in Pacira BioSciences by 259.3% in the 3rd quarter. State of Wyoming now owns 11,117 shares of the company’s stock worth $278,000 after purchasing an additional 8,023 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in Pacira BioSciences by 52.2% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 51,050 shares of the company’s stock worth $1,279,000 after purchasing an additional 17,500 shares during the period. Institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Trading Up 0.0%

Shares of Pacira BioSciences stock traded up $0.01 during trading hours on Monday, hitting $36.40. The company’s stock had a trading volume of 810,926 shares, compared to its average volume of 2,661,795. Pacira BioSciences has a 12 month low of $18.80 and a 12 month high of $36.67. The stock has a 50 day moving average of $29.30 and a 200 day moving average of $24.89. The company has a market capitalization of $1.45 billion, a PE ratio of 23.33 and a beta of 0.25. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.04 and a quick ratio of 3.94.

Pacira BioSciences (NASDAQ:PCRX) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.08. Pacira BioSciences had a return on equity of 9.68% and a net margin of 1.96%. The business had revenue of $192.40 million for the quarter, compared to analysts’ expectations of $191.06 million. During the same quarter in the previous year, the business posted $0.74 EPS. Pacira BioSciences’s revenue for the quarter was up 6.2% on a year-over-year basis. Analysts predict that Pacira BioSciences will post 1.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

PCRX has been the topic of several recent analyst reports. Leerink Partners started coverage on shares of Pacira BioSciences in a research note on Wednesday, September 9th. They set a “market perform” rating and a $28.00 price objective on the stock. HC Wainwright cut shares of Pacira BioSciences from a “buy” rating to a “hold” rating and decreased their price objective for the company from $38.00 to $36.50 in a report on Friday, October 9th. Truist Financial downgraded shares of Pacira BioSciences from a “buy” rating to a “hold” rating and upped their target price for the company from $31.00 to $36.50 in a research note on Friday, October 9th. Oppenheimer began coverage on shares of Pacira BioSciences in a report on Wednesday, September 23rd. They issued an “outperform” rating and a $32.00 target price on the stock. Finally, Jefferies Financial Group cut shares of Pacira BioSciences from a “buy” rating to a “hold” rating and set a $36.00 price target on the stock. in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $33.33.

About Pacira BioSciences

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid pain-management and regenerative health solutions. The company’s products are designed to address acute postsurgical pain and osteoarthritis-related pain while supporting efforts to reduce reliance on opioid medications.

Pacira’s lead product is EXPAREL, an extended-release formulation of bupivacaine administered by injection for postsurgical pain management. The company also markets ZILRETTA, an extended-release corticosteroid injection indicated for osteoarthritis knee pain, and iovera°, a cryoanalgesia system that uses controlled cooling to temporarily block peripheral nerves and relieve pain.

Formerly known as Pacira Pharmaceuticals, the company adopted the Pacira BioSciences name to reflect its broader focus on innovative pain and regenerative-health therapies.