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

Pacira BioSciences, Inc. (NASDAQ:PCRX) saw a significant decline in short interest during 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 trading volume of 3,933,128 shares, the days-to-cover ratio is currently 1.1 days. Approximately 11.4% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PCRX shares. Jefferies Financial Group lowered Pacira BioSciences from a “buy” rating to a “hold” rating and set a $36.00 price target on the stock. in a research note on Thursday, October 8th. Zacks Research lowered Pacira BioSciences from a “hold” rating to a “strong sell” rating in a report on Monday, October 5th. Truist Financial cut shares of Pacira BioSciences from a “buy” rating to a “hold” rating and lifted their price objective for the company from $31.00 to $36.50 in a report on Friday, October 9th. Needham & Company LLC lowered Pacira BioSciences from a “buy” rating to a “hold” rating in a research report on Thursday, October 8th. Finally, Wall Street Zen upgraded Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 26th. One research analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $33.33.

Pacira BioSciences Price Performance

NASDAQ:PCRX remained flat at $36.39 during trading hours on Friday. The company’s stock had a trading volume of 737,237 shares, compared to its average volume of 2,667,213. The stock has a fifty day simple moving average of $29.06 and a 200-day simple moving average of $24.82. Pacira BioSciences has a one year low of $18.80 and a one year high of $36.67. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.04 and a quick ratio of 3.94. The stock has a market cap of $1.45 billion, a P/E ratio of 103.97 and a beta of 0.25.

Pacira BioSciences (NASDAQ:PCRX) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.65 by $0.08. Pacira BioSciences had a net margin of 1.96% and a return on equity of 9.68%. The business had revenue of $192.40 million during the quarter, compared to the consensus estimate of $191.06 million. During the same quarter in the previous year, the firm posted $0.74 earnings per share. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, research analysts forecast that Pacira BioSciences will post 1.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Lauren Riker sold 6,000 shares of the firm’s 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 sale, the senior vice president owned 62,284 shares in the company, valued at approximately $2,262,154.88. This trade represents a 8.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Slonin sold 3,040 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $23.23, for a total value of $70,619.20. Following the completion of the transaction, the insider directly owned 216,384 shares in the company, valued at $5,026,600.32. This trade represents a 1.39% 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. 6.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its holdings in shares of Pacira BioSciences by 5.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,060,597 shares of the company’s stock worth $46,572,000 after purchasing an additional 110,584 shares during the period. Wellington Management Group LLP grew its position in Pacira BioSciences by 17.8% during the second quarter. Wellington Management Group LLP now owns 563,458 shares of the company’s stock worth $14,295,000 after buying an additional 85,075 shares during the period. Bridge City Capital LLC increased its stake in Pacira BioSciences by 12.9% in the 3rd quarter. Bridge City Capital LLC now owns 352,738 shares of the company’s stock valued at $8,836,000 after purchasing an additional 40,441 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Pacira BioSciences during the 2nd quarter worth $7,532,000. Finally, Hillsdale Investment Management Inc. raised its position in Pacira BioSciences by 7.5% during the first quarter. Hillsdale Investment Management Inc. now owns 331,300 shares of the company’s stock worth $7,487,000 after acquiring an additional 23,100 shares during the last quarter. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Pacira BioSciences Company Profile

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.