Pacira Biosciences Inc (NASDAQ:PCRX) was the recipient of a significant decrease in short interest in July. As of July 31st, there was short interest totalling 3,272,700 shares, a decrease of 6.1% from the June 30th total of 3,485,700 shares. Based on an average trading volume of 510,300 shares, the days-to-cover ratio is presently 6.4 days. Approximately 8.2% of the shares of the company are sold short.
In other Pacira Biosciences news, CFO Charles A. Reinhart III sold 1,106 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $42.91, for a total transaction of $47,458.46. Following the sale, the chief financial officer now directly owns 11,936 shares of the company’s stock, valued at $512,173.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Richard Scranton sold 9,040 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $43.10, for a total transaction of $389,624.00. Following the sale, the insider now directly owns 18,027 shares in the company, valued at $776,963.70. The disclosure for this sale can be found here. Insiders have sold 77,091 shares of company stock worth $3,246,975 over the last ninety days. Insiders own 5.80% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. US Bancorp DE increased its position in Pacira Biosciences by 9.4% during the second quarter. US Bancorp DE now owns 4,373 shares of the company’s stock worth $190,000 after acquiring an additional 375 shares during the period. First Mercantile Trust Co. grew its stake in Pacira Biosciences by 19.5% during the second quarter. First Mercantile Trust Co. now owns 4,463 shares of the company’s stock worth $194,000 after buying an additional 728 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in Pacira Biosciences during the second quarter worth about $44,000. Legacy Capital Partners Inc. grew its stake in Pacira Biosciences by 2.2% during the second quarter. Legacy Capital Partners Inc. now owns 48,573 shares of the company’s stock worth $2,112,000 after buying an additional 1,025 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in Pacira Biosciences by 7.3% during the fourth quarter. Legal & General Group Plc now owns 16,652 shares of the company’s stock worth $717,000 after buying an additional 1,129 shares in the last quarter. 99.89% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:PCRX traded down $0.72 during mid-day trading on Friday, reaching $38.22. 539,953 shares of the company’s stock were exchanged, compared to its average volume of 586,556. Pacira Biosciences has a one year low of $35.07 and a one year high of $55.00. The firm has a market capitalization of $1.67 billion, a PE ratio of 131.79, a price-to-earnings-growth ratio of 1.55 and a beta of 1.15. The business’s fifty day simple moving average is $42.22 and its two-hundred day simple moving average is $41.34. The company has a debt-to-equity ratio of 0.99, a quick ratio of 7.83 and a current ratio of 4.75.
Pacira Biosciences (NASDAQ:PCRX) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.27. Pacira Biosciences had a net margin of 2.04% and a return on equity of 8.62%. The business had revenue of $102.60 million for the quarter, compared to analyst estimates of $99.92 million. During the same period last year, the firm earned $0.24 earnings per share. Pacira Biosciences’s revenue for the quarter was up 22.0% compared to the same quarter last year. As a group, equities research analysts forecast that Pacira Biosciences will post 0.66 EPS for the current year.
Several analysts have issued reports on the stock. Mizuho raised shares of Pacira Biosciences from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $29.00 to $38.00 in a research report on Monday, May 6th. Wedbush set a $85.00 price target on shares of Pacira Biosciences and gave the stock a “buy” rating in a research report on Friday, June 28th. Zacks Investment Research raised shares of Pacira Biosciences from a “sell” rating to a “hold” rating and set a $47.00 price target on the stock in a research report on Friday, August 2nd. Stifel Nicolaus set a $42.00 price target on shares of Pacira Biosciences and gave the stock a “hold” rating in a research report on Friday, August 9th. Finally, Barclays assumed coverage on shares of Pacira Biosciences in a research report on Tuesday, June 11th. They set an “overweight” rating and a $52.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $54.13.
About Pacira Biosciences
Pacira BioSciences, Inc provides non-opioid pain management and regenerative health solutions for health care practitioners and their patients in the United States. The company develops products based on its proprietary DepoFoam product delivery technology that encapsulates drugs without altering their molecular structure.
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