Short Interest in Pacira Biosciences Inc (NASDAQ:PCRX) Increases By 15.4%

Pacira Biosciences Inc (NASDAQ:PCRX) saw a significant growth in short interest in 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. Approximately 7.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 555,100 shares, the short-interest ratio is presently 5.7 days.

In other news, CAO Kristen Marie Williams sold 2,529 shares of Pacira Biosciences stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $42.91, for a total value of $108,519.39. Following the completion of the sale, the chief accounting officer now owns 19,845 shares of the company’s stock, valued at $851,548.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David M. Stack sold 13,115 shares of Pacira Biosciences stock in a transaction on Monday, July 8th. The shares were sold at an average price of $42.88, for a total value of $562,371.20. The disclosure for this sale can be found here. Insiders have sold 57,990 shares of company stock valued at $2,497,045 in the last three months. 5.80% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its position in Pacira Biosciences by 46.2% in the fourth quarter. Rhumbline Advisers now owns 54,649 shares of the company’s stock worth $2,351,000 after buying an additional 17,258 shares during the last quarter. First Trust Advisors LP bought a new stake in Pacira Biosciences in the fourth quarter worth $3,469,000. PNC Financial Services Group Inc. lifted its position in Pacira Biosciences by 6,057.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 39,407 shares of the company’s stock worth $1,695,000 after buying an additional 38,767 shares during the last quarter. California Public Employees Retirement System lifted its position in Pacira Biosciences by 4.7% in the fourth quarter. California Public Employees Retirement System now owns 52,851 shares of the company’s stock worth $2,274,000 after buying an additional 2,351 shares during the last quarter. Finally, LaSalle Street Capital Management LLC bought a new stake in Pacira Biosciences in the fourth quarter worth $294,000. Hedge funds and other institutional investors own 99.13% of the company’s stock.

A number of research firms have issued reports on PCRX. Zacks Investment Research raised GCP Applied Technologies from a “sell” rating to a “hold” rating in a research report on Friday, May 31st. Stifel Nicolaus boosted their price objective on Wayfair from $132.00 to $150.00 and gave the stock a “hold” rating in a research note on Thursday, May 2nd. Barclays reiterated a “hold” rating on shares of Bank of Montreal in a research note on Tuesday, June 11th. Piper Jaffray Companies set a $55.00 price target on Pacira Biosciences and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Finally, BidaskClub upgraded Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, July 4th. Two 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 company has a consensus rating of “Hold” and an average target price of $54.53.

Shares of PCRX stock opened at $41.28 on Friday. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 82.56, a price-to-earnings-growth ratio of 2.32 and a beta of 1.14. The company has a debt-to-equity ratio of 0.99, a current ratio of 8.62 and a quick ratio of 7.83. Pacira Biosciences has a 12-month low of $35.07 and a 12-month high of $55.00. The business has a 50 day simple moving average of $43.37.

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