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

Pacira BioSciences, Inc. (NASDAQ:PCRX) was the target of a large 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 trading volume of 1,350,000 shares, the short-interest ratio is currently 4.5 days.

Pacira BioSciences Price Performance

NASDAQ:PCRX traded up $0.86 during mid-day trading on Tuesday, hitting $14.35. 983,485 shares of the stock traded hands, compared to its average volume of 885,439. The business’s 50-day moving average price is $16.88 and its 200 day moving average price is $24.26. The company has a quick ratio of 5.70, a current ratio of 6.82 and a debt-to-equity ratio of 0.67. The company has a market cap of $667.70 million, a PE ratio of 10.03 and a beta of 0.84. Pacira BioSciences has a 12-month low of $11.16 and a 12-month high of $35.95.

Pacira BioSciences (NASDAQ:PCRX) last released 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 net margin of 9.21% and a return on equity of 13.22%. The firm had revenue of $178.02 million for the quarter, compared to analysts’ expectations of $173.31 million. On average, analysts expect that Pacira BioSciences will post 2.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PCRX has been the topic of several research analyst reports. Barclays downgraded 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 research note on Wednesday, July 3rd. Royal Bank of Canada downgraded Pacira BioSciences from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $37.00 to $14.00 in a research note on Monday, August 12th. Truist Financial downgraded shares of Pacira BioSciences from a “buy” rating to a “sell” rating and dropped their price objective for the company from $30.00 to $8.00 in a report on Tuesday, August 13th. Needham & Company LLC lowered their price target on shares of Pacira BioSciences from $43.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, HC Wainwright cut their price objective on shares of Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating for the company in a report on Monday, August 12th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $24.78.

Insider Buying and Selling at Pacira BioSciences

In other news, CEO Frank D. Lee acquired 8,264 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $12.10 per share, for a total transaction of $99,994.40. Following the purchase, the chief executive officer now owns 107,784 shares in the company, valued at approximately $1,304,186.40. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Jonathan Slonin sold 2,836 shares of the stock in a transaction dated 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 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 available through this link. Also, CEO Frank D. Lee acquired 8,264 shares of the stock in a transaction on Monday, August 12th. The stock was bought at an average cost of $12.10 per share, for a total transaction of $99,994.40. Following the transaction, the chief executive officer now owns 107,784 shares of the company’s stock, valued at approximately $1,304,186.40. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 11,176 shares of company stock worth $136,240 and have sold 4,281 shares worth $105,494. Company insiders own 6.40% of the company’s stock.

Institutional Trading of Pacira BioSciences

Several institutional investors and hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its stake in Pacira BioSciences by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 371,666 shares of the company’s stock valued at $12,540,000 after purchasing an additional 11,696 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Pacira BioSciences by 11.2% during the 4th quarter. QRG Capital Management Inc. now owns 15,987 shares of the company’s stock worth $539,000 after acquiring an additional 1,610 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Pacira BioSciences by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,411,767 shares of the company’s stock worth $47,633,000 after acquiring an additional 17,949 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Pacira BioSciences by 30.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,632 shares of the company’s stock valued at $213,000 after acquiring an additional 1,529 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its position in Pacira BioSciences by 61.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,324 shares of the company’s stock valued at $78,000 after purchasing an additional 885 shares in the last quarter. Hedge funds and other institutional investors own 99.73% of the company’s stock.

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.