Investors Purchase Large Volume of Pacira BioSciences Put Options (NASDAQ:PCRX)

Pacira BioSciences, Inc. (NASDAQ:PCRX) was the target of unusually large options trading activity on Tuesday. Investors acquired 5,734 put options on the stock. This represents an increase of approximately 1,898% compared to the typical volume of 287 put options.

Insider Transactions at Pacira BioSciences

In other news, SVP Lauren Riker sold 3,970 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $28.72, for a total transaction of $114,018.40. Following the completion of the sale, the senior vice president now owns 38,075 shares in the company, valued at $1,093,514. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Daryl Gaugler sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $28.38, for a total transaction of $28,380.00. Following the completion of the transaction, the chief operating officer now directly owns 116,040 shares of the company’s stock, valued at approximately $3,293,215.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Lauren Riker sold 3,970 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $28.72, for a total transaction of $114,018.40. Following the transaction, the senior vice president now directly owns 38,075 shares of the company’s stock, valued at $1,093,514. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,150 shares of company stock worth $602,170. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Pacira BioSciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. ICA Group Wealth Management LLC bought a new stake in shares of Pacira BioSciences in the 4th quarter worth about $30,000. GAMMA Investing LLC increased its position in shares of Pacira BioSciences by 229.6% in the 2nd 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 bought a new stake in shares of Pacira BioSciences in the 2nd quarter worth about $46,000. Quadrant Capital Group LLC increased its position in shares of Pacira BioSciences by 61.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,324 shares of the company’s stock worth $78,000 after purchasing an additional 885 shares during the last quarter. Finally, Natixis bought a new stake in shares of Pacira BioSciences in the 1st quarter worth about $95,000. Institutional investors own 99.73% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on PCRX shares. Barclays cut shares of Pacira BioSciences from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $38.00 to $25.00 in a research note on Wednesday. HC Wainwright reaffirmed a “buy” rating and issued a $57.00 target price on shares of Pacira BioSciences in a research note on Tuesday. Piper Sandler reaffirmed an “overweight” rating and issued a $42.00 target price on shares of Pacira BioSciences in a research note on Wednesday. JPMorgan Chase & Co. assumed coverage on shares of Pacira BioSciences in a report on Thursday, March 7th. They issued an “overweight” rating and a $45.00 price target on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $43.00 price target on shares of Pacira BioSciences in a report on Tuesday. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $46.10.

Pacira BioSciences Stock Performance

Shares of PCRX stock opened at $21.66 on Thursday. Pacira BioSciences has a 12 month low of $20.52 and a 12 month high of $40.16. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.81 and a quick ratio of 4.78. The firm has a market capitalization of $1.01 billion, a P/E ratio of 15.15 and a beta of 0.88. The company’s fifty day moving average price is $28.60 and its two-hundred day moving average price is $29.73.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). Pacira BioSciences had a return on equity of 12.98% and a net margin of 10.34%. The firm had revenue of $167.12 million during the quarter, compared to analyst estimates of $165.43 million. On average, research analysts anticipate that Pacira BioSciences will post 2.13 earnings per share for the current fiscal 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.