Pacira Biosciences Inc (NASDAQ:PCRX) Sees Significant Growth in Short Interest

Pacira Biosciences Inc (NASDAQ:PCRX) was the recipient of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 4,160,000 shares, an increase of 10.9% from the January 15th total of 3,750,000 shares. Based on an average daily volume of 479,300 shares, the short-interest ratio is presently 8.7 days. Approximately 10.3% of the shares of the stock are short sold.

Shares of PCRX stock traded up $0.93 during trading hours on Friday, hitting $49.99. 600,443 shares of the company’s stock were exchanged, compared to its average volume of 474,234. The stock’s 50-day moving average is $44.64 and its 200-day moving average is $41.94. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.95 and a quick ratio of 3.32. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 1,249.75, a price-to-earnings-growth ratio of 1.17 and a beta of 1.31. Pacira Biosciences has a 52 week low of $34.64 and a 52 week high of $51.00.

Several research firms have recently weighed in on PCRX. Cowen reaffirmed a “hold” rating and issued a $41.00 target price on shares of Pacira Biosciences in a report on Thursday, November 7th. Royal Bank of Canada reiterated a “buy” rating on shares of Pacira Biosciences in a research report on Wednesday, December 18th. Wedbush reissued a “buy” rating and set a $85.00 price target on shares of Pacira Biosciences in a report on Tuesday, January 7th. BTIG Research initiated coverage on shares of Pacira Biosciences in a research report on Wednesday, November 6th. They issued a “buy” rating and a $56.00 price target on the stock. Finally, Zacks Investment Research cut shares of Pacira Biosciences from a “strong-buy” rating to a “hold” rating and set a $47.00 price objective on the stock. in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. Pacira Biosciences currently has an average rating of “Hold” and a consensus target price of $53.17.

In other Pacira Biosciences news, VP Lauren Bullaro Riker sold 1,176 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $44.14, for a total value of $51,908.64. Following the sale, the vice president now directly owns 11,640 shares in the company, valued at $513,789.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John P. Phd Longenecker sold 1,300 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $46.13, for a total value of $59,969.00. Following the transaction, the director now owns 10,933 shares of the company’s stock, valued at $504,339.29. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,317 shares of company stock valued at $1,354,930. Corporate insiders own 5.80% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Usca Ria LLC bought a new position in shares of Pacira Biosciences in the third quarter worth about $38,000. Quantbot Technologies LP bought a new stake in shares of Pacira Biosciences during the fourth quarter valued at approximately $56,000. LS Investment Advisors LLC acquired a new stake in shares of Pacira Biosciences in the third quarter valued at approximately $50,000. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Pacira Biosciences in the first quarter valued at approximately $65,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Pacira Biosciences by 23.0% in the third quarter. Steward Partners Investment Advisory LLC now owns 2,029 shares of the company’s stock valued at $77,000 after purchasing an additional 379 shares in the last quarter.

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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