Pacira BioSciences, Inc. (NASDAQ:PCRX) Short Interest Up 17.5% in August

Pacira BioSciences, Inc. (NASDAQ:PCRX - Get Free Report) saw a large increase in short interest during the month of 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 daily trading volume, of 1,350,000 shares, the days-to-cover ratio is currently 4.5 days.

Pacira BioSciences Trading Up 6.4 %

Shares of Pacira BioSciences stock traded up $0.86 on Tuesday, hitting $14.35. 984,055 shares of the company's stock traded hands, compared to its average volume of 885,439. The company has a debt-to-equity ratio of 0.67, a current ratio of 6.82 and a quick ratio of 5.70. Pacira BioSciences has a one year low of $11.16 and a one year high of $35.95. The firm's 50-day moving average price is $17.01 and its two-hundred day moving average price is $24.37. The stock has a market capitalization of $667.94 million, a PE ratio of 10.07 and a beta of 0.84.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.11. Pacira BioSciences had a net margin of 9.21% and a return on equity of 13.22%. The company had revenue of $178.02 million for the quarter, compared to analysts' expectations of $173.31 million. On average, research analysts expect that Pacira BioSciences will post 2.24 EPS for the current fiscal year.

Analysts Set New Price Targets

PCRX has been the topic of several analyst reports. HC Wainwright dropped their target price on shares of Pacira BioSciences from $57.00 to $39.00 and set a "buy" rating on the stock in a research report on Monday, August 12th. Raymond James downgraded Pacira BioSciences from an "outperform" rating to a "market perform" rating in a report on Monday, August 12th. StockNews.com lowered Pacira BioSciences from a "strong-buy" rating to a "buy" rating in a report on Monday, August 12th. Needham & Company LLC dropped their price target on 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, JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $10.00 price objective (down previously from $45.00) on shares of Pacira BioSciences in a research report on Monday, August 12th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $24.78.

Insider Activity

In other Pacira BioSciences news, insider Jonathan Slonin sold 2,836 shares of the company's stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $28.25, for a total transaction of $80,117.00. Following the sale, the insider now owns 95,557 shares in the company, valued at $2,699,485.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Pacira BioSciences news, insider Jonathan Slonin sold 2,836 shares of the company's stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $28.25, for a total value of $80,117.00. Following the completion of the transaction, the insider now owns 95,557 shares in the company, valued at approximately $2,699,485.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Frank D. Lee bought 8,264 shares of the firm's stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average price of $12.10 per share, with a total value of $99,994.40. Following the transaction, the chief executive officer now directly 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 three months, insiders acquired 11,176 shares of company stock worth $136,240 and sold 4,281 shares worth $105,494. Company insiders own 6.40% of the company's stock.

Hedge Funds Weigh In On Pacira BioSciences

A number of large investors have recently added to or reduced their stakes in the company. ICA Group Wealth Management LLC acquired a new stake in Pacira BioSciences in the 4th quarter valued at approximately $30,000. GAMMA Investing LLC boosted its holdings in Pacira BioSciences by 229.6% during the second quarter. GAMMA Investing LLC now owns 1,338 shares of the company's stock worth $38,000 after purchasing an additional 932 shares during the last quarter. Park Place Capital Corp acquired a new position in Pacira BioSciences during the second quarter worth $46,000. Innealta Capital LLC bought a new position in Pacira BioSciences in the second quarter valued at $50,000. Finally, nVerses Capital LLC increased its stake in Pacira BioSciences by 800.0% in the 2nd quarter. nVerses Capital LLC now owns 1,800 shares of the company's stock valued at $51,000 after buying an additional 1,600 shares during the last quarter. 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.