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

Pacira BioSciences, Inc. (NASDAQ:PCRX) was the recipient of a large decrease in short interest during the month of October. As of October 15th, there was short interest totaling 4,260,076 shares, a decrease of 47.3% from the September 30th total of 8,076,461 shares. Currently, 11.4% of the shares of the stock are sold short. Based on an average trading volume of 3,933,128 shares, the short-interest ratio is currently 1.1 days.

Analyst Upgrades and Downgrades

PCRX has been the topic of several research reports. Jefferies Financial Group lowered shares of Pacira BioSciences from a “buy” rating to a “hold” rating and set a $36.00 price objective 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. Wall Street Zen raised Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 26th. Royal Bank Of Canada boosted their price objective on Pacira BioSciences from $25.00 to $36.50 and gave the company a “sector perform” rating in a research report on Friday, October 9th. Finally, HC Wainwright downgraded Pacira BioSciences from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $38.00 to $36.50 in a research note on Friday, October 9th. One equities research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Pacira BioSciences has a consensus rating of “Hold” and an average price target of $33.33.

Insider Activity

In related news, SVP Lauren Riker sold 6,000 shares of the stock in a transaction on Thursday, October 8th. The stock was sold at an average price of $36.32, for a total value of $217,920.00. Following the transaction, the senior vice president directly owned 62,284 shares of the company’s stock, valued at approximately $2,262,154.88. This trade represents a 8.79% decrease in their position. The sale was disclosed in a filing with the SEC, 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 firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $23.23, for a total transaction of $70,619.20. Following the completion of the transaction, the insider owned 216,384 shares in the company, valued at $5,026,600.32. The trade was a 1.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Pacira BioSciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its stake in Pacira BioSciences by 15.1% during the first quarter. PNC Financial Services Group Inc. now owns 3,751 shares of the company’s stock worth $85,000 after acquiring an additional 492 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Pacira BioSciences by 16.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,273 shares of the company’s stock worth $187,000 after purchasing an additional 1,011 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Pacira BioSciences by 10.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,746 shares of the company’s stock worth $268,000 after purchasing an additional 1,142 shares in the last quarter. State of Wyoming increased its position in shares of Pacira BioSciences by 10.2% during the 1st quarter. State of Wyoming now owns 12,298 shares of the company’s stock worth $278,000 after purchasing an additional 1,143 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Pacira BioSciences by 7.7% during the 4th quarter. Hsbc Holdings PLC now owns 18,416 shares of the company’s stock worth $479,000 after purchasing an additional 1,316 shares in the last quarter. 99.73% of the stock is owned by institutional investors.

Pacira BioSciences Price Performance

NASDAQ PCRX remained flat at $36.39 on Friday. The company’s stock had a trading volume of 737,237 shares, compared to its average volume of 2,667,213. The company’s fifty day moving average price is $29.06 and its 200 day moving average price is $24.82. The company has a quick ratio of 3.94, a current ratio of 5.04 and a debt-to-equity ratio of 0.54. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 103.97 and a beta of 0.25. Pacira BioSciences has a 12-month low of $18.80 and a 12-month high of $36.67.

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 net margin of 1.96% and a return on equity of 9.68%. The firm had revenue of $192.40 million for the quarter, compared to analyst estimates of $191.06 million. During the same quarter in the prior year, the business earned $0.74 EPS. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, equities analysts expect that Pacira BioSciences will post 1.86 EPS for the current year.

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.