Short Interest in Pacira BioSciences, Inc. (NASDAQ:PCRX) Declines By 18.4%

Pacira BioSciences, Inc. (NASDAQ:PCRX - Get Free Report) was the target of a large decline in short interest in the month of August. As of August 15th, there was short interest totalling 5,150,000 shares, a decline of 18.4% from the July 31st total of 6,310,000 shares. Based on an average daily trading volume, of 1,290,000 shares, the days-to-cover ratio is currently 4.0 days.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Royal Bank of Canada lowered Pacira BioSciences from an "outperform" rating to a "sector perform" rating and cut their price target for the company from $37.00 to $14.00 in a research note on Monday, August 12th. HC Wainwright cut their price objective on Pacira BioSciences from $57.00 to $39.00 and set a "buy" rating for the company in a research note on Monday, August 12th. Piper Sandler lowered Pacira BioSciences from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $42.00 to $11.00 in a research note on Monday, August 12th. Needham & Company LLC cut their price objective on Pacira BioSciences from $43.00 to $22.00 and set a "buy" rating for the company in a research note on Monday, August 12th. Finally, StockNews.com lowered Pacira BioSciences from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 12th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $24.78.

Insider Activity

In related news, CEO Frank D. Lee acquired 8,264 shares of the firm's stock in a transaction dated Monday, August 12th. The stock was acquired at an average price of $12.10 per share, with a total value of $99,994.40. Following the acquisition, the chief executive officer now directly owns 107,784 shares in the company, valued at approximately $1,304,186.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, COO Daryl Gaugler sold 1,000 shares of Pacira BioSciences stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $28.38, for a total value of $28,380.00. Following the completion of the transaction, the chief operating officer now owns 116,040 shares in the company, valued at approximately $3,293,215.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Frank D. Lee purchased 8,264 shares of the business's stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average price of $12.10 per share, with a total value of $99,994.40. Following the purchase, the chief executive officer now owns 107,784 shares in the company, valued at $1,304,186.40. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 11,176 shares of company stock valued at $136,240 and sold 22,095 shares valued at $621,118. Insiders own 6.40% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. ICA Group Wealth Management LLC acquired a new position in Pacira BioSciences in the fourth quarter valued at approximately $30,000. GAMMA Investing LLC lifted its holdings in Pacira BioSciences by 229.6% in the second quarter. GAMMA Investing LLC now owns 1,338 shares of the company's stock valued at $38,000 after acquiring an additional 932 shares during the last quarter. Park Place Capital Corp acquired a new position in Pacira BioSciences in the second quarter valued at approximately $46,000. Innealta Capital LLC acquired a new position in Pacira BioSciences in the second quarter valued at approximately $50,000. Finally, nVerses Capital LLC lifted its holdings in Pacira BioSciences by 800.0% in the second quarter. nVerses Capital LLC now owns 1,800 shares of the company's stock valued at $51,000 after acquiring an additional 1,600 shares during the last quarter. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Pacira BioSciences Price Performance

Shares of PCRX stock traded up $0.20 during trading hours on Friday, reaching $15.56. The company had a trading volume of 702,297 shares, compared to its average volume of 872,313. 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 fifty day moving average of $19.77 and a 200-day moving average of $25.74. The company has a market capitalization of $724.26 million, a price-to-earnings ratio of 10.80 and a beta of 0.88. Pacira BioSciences has a 12-month low of $11.16 and a 12-month high of $36.55.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.11. The business had revenue of $178.02 million during the quarter, compared to analyst estimates of $173.31 million. Pacira BioSciences had a return on equity of 13.22% and a net margin of 9.21%. On average, equities analysts anticipate that Pacira BioSciences will post 2.26 earnings per share for the current 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.