Pacira Biosciences Inc (NASDAQ:PCRX) Short Interest Update

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Pacira Biosciences Inc (NASDAQ:PCRX) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 3,156,800 shares, a growth of 15.4% from the May 15th total of 2,735,300 shares. Currently, 7.9% of the company’s stock are sold short. Based on an average daily volume of 555,100 shares, the short-interest ratio is presently 5.7 days.

In other news, Director Paul J. Hastings sold 782 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $42.66, for a total value of $33,360.12. Following the completion of the sale, the director now owns 2,747 shares of the company’s stock, valued at approximately $117,187.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Charles A. Reinhart III sold 1,106 shares of the stock in a transaction that occurred 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 approximately $512,173.76. The disclosure for this sale can be found here. Insiders sold a total of 57,990 shares of company stock valued at $2,497,045 in the last ninety days. Corporate insiders own 5.80% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Pacira Biosciences in the first quarter worth $65,000. Rehmann Capital Advisory Group increased its stake in shares of Pacira Biosciences by 28.5% in the fourth quarter. Rehmann Capital Advisory Group now owns 2,217 shares of the company’s stock worth $95,000 after acquiring an additional 492 shares during the period. First Mercantile Trust Co. acquired a new stake in shares of Pacira Biosciences in the first quarter worth $142,000. Quantamental Technologies LLC acquired a new stake in shares of Pacira Biosciences in the first quarter worth $162,000. Finally, AJO LP acquired a new stake in shares of Pacira Biosciences in the first quarter worth $215,000. Hedge funds and other institutional investors own 99.13% of the company’s stock.

A number of research firms recently commented on PCRX. Wedbush set a $85.00 target price on shares of Pacira Biosciences and gave the company a “buy” rating in a research report on Friday, June 28th. BidaskClub raised shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, July 4th. BMO Capital Markets set a $66.00 target price on shares of CyrusOne and gave the company a “buy” rating in a research report on Friday, May 3rd. Piper Jaffray Companies set a $55.00 target price on shares of Pacira Biosciences and gave the company a “buy” rating in a research report on Tuesday, April 9th. Finally, Barclays reissued a “hold” rating on shares of Bank of Montreal in a research report on Tuesday, June 11th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $54.53.

NASDAQ PCRX opened at $41.28 on Friday. The business has a fifty day moving average of $43.37. The stock has a market capitalization of $1.70 billion, a PE ratio of 82.56, a P/E/G ratio of 2.32 and a beta of 1.14. Pacira Biosciences has a 12-month low of $35.07 and a 12-month high of $55.00. The company has a current ratio of 8.62, a quick ratio of 7.83 and a debt-to-equity ratio of 0.99.

Pacira Biosciences (NASDAQ:PCRX) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.20. The business had revenue of $91.31 million during the quarter, compared to analysts’ expectations of $92.13 million. Pacira Biosciences had a net margin of 2.10% and a return on equity of 6.78%. The business’s quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter last year, the company posted $0.02 earnings per share. On average, sell-side analysts forecast that Pacira Biosciences will post 0.77 earnings per share for the current year.

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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