Investors Buy High Volume of Call Options on Pacira BioSciences (NASDAQ:PCRX)

Pacira BioSciences, Inc. (NASDAQ:PCRX) was the recipient of some unusual options trading on Wednesday. Stock traders acquired 1,981 call options on the stock. This is an increase of approximately 416% compared to the typical daily volume of 384 call options.

Insider Buying and Selling at Pacira BioSciences

In other news, SVP Lauren Riker sold 3,970 shares of the stock in a transaction dated 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 in the company, valued at approximately $1,093,514. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Lauren Riker sold 3,970 shares of the stock in a transaction dated 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 in the company, valued at approximately $1,093,514. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Daryl Gaugler sold 1,000 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $28.38, for a total value of $28,380.00. Following the transaction, the chief operating officer now owns 116,040 shares in the company, valued at $3,293,215.20. The disclosure for this sale can be found here. Insiders have sold a total of 21,150 shares of company stock valued at $602,170 in the last 90 days. Corporate insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Texas Permanent School Fund Corp lifted its stake in shares of Pacira BioSciences by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 40,642 shares of the company’s stock valued at $1,188,000 after purchasing an additional 543 shares during the period. Illinois Municipal Retirement Fund raised its stake in Pacira BioSciences by 2.2% during the fourth quarter. Illinois Municipal Retirement Fund now owns 26,964 shares of the company’s stock valued at $910,000 after buying an additional 591 shares during the last quarter. Duality Advisers LP raised its stake in Pacira BioSciences by 1.8% during the first quarter. Duality Advisers LP now owns 34,784 shares of the company’s stock valued at $1,016,000 after buying an additional 605 shares during the last quarter. Inspire Investing LLC raised its stake in Pacira BioSciences by 5.9% during the first quarter. Inspire Investing LLC now owns 12,131 shares of the company’s stock valued at $354,000 after buying an additional 675 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in Pacira BioSciences by 61.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,324 shares of the company’s stock valued at $78,000 after buying an additional 885 shares during the last quarter. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PCRX shares. Barclays lowered Pacira BioSciences from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $38.00 to $25.00 in a research report on Wednesday. JPMorgan Chase & Co. started coverage on Pacira BioSciences in a research report on Thursday, March 7th. They set an “overweight” rating and a $45.00 price target on the stock. Needham & Company LLC restated a “buy” rating and set a $43.00 price target on shares of Pacira BioSciences in a research report on Tuesday. Piper Sandler restated an “overweight” rating and set a $42.00 price target on shares of Pacira BioSciences in a research report on Wednesday. Finally, HC Wainwright reiterated a “buy” rating and issued a $57.00 price objective on shares of Pacira BioSciences in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Pacira BioSciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.10.

Pacira BioSciences Trading Down 4.7 %

PCRX opened at $21.66 on Friday. The stock has a market cap of $1.01 billion, a PE ratio of 15.15 and a beta of 0.88. The company has a quick ratio of 4.78, a current ratio of 5.81 and a debt-to-equity ratio of 0.57. The business has a 50 day moving average of $28.53 and a 200-day moving average of $29.67. Pacira BioSciences has a 52 week low of $20.52 and a 52 week high of $40.16.

Pacira BioSciences (NASDAQ:PCRX) last released its earnings results on Tuesday, May 7th. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). The firm had revenue of $167.12 million during the quarter, compared to analysts’ expectations of $165.43 million. Pacira BioSciences had a net margin of 10.34% and a return on equity of 12.98%. Equities research analysts predict 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.