Pacira BioSciences Target of Unusually Large Options Trading (NASDAQ:PCRX)

Pacira BioSciences, Inc. (NASDAQ:PCRX) saw some unusual options trading activity on Tuesday. Investors bought 5,734 put options on the company. This is an increase of 1,898% compared to the average volume of 287 put options.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PCRX shares. HC Wainwright reaffirmed a “buy” rating and issued a $57.00 target price on shares of Pacira BioSciences in a report on Tuesday. JPMorgan Chase & Co. began coverage on shares of Pacira BioSciences in a report on Thursday, March 7th. They issued an “overweight” rating and a $45.00 target price for the company. Needham & Company LLC reissued a “buy” rating and set a $43.00 price target on shares of Pacira BioSciences in a report on Tuesday. Finally, Barclays reduced their price objective on Pacira BioSciences from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, May 8th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, Pacira BioSciences has an average rating of “Buy” and a consensus target price of $47.40.

Insider Buying and Selling at Pacira BioSciences

In related news, COO Daryl Gaugler sold 1,000 shares of the business’s stock in a transaction 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 owns 116,040 shares in the company, valued at $3,293,215.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Pacira BioSciences news, insider Kristen Williams sold 7,452 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $28.38, for a total value of $211,487.76. Following the completion of the transaction, the insider now owns 102,912 shares in the company, valued at $2,920,642.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Daryl Gaugler sold 1,000 shares of the business’s 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 completion of the sale, the chief operating officer now directly owns 116,040 shares of the company’s stock, valued at $3,293,215.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,314 shares of company stock valued at $522,053. Insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PCRX. GAMMA Investing LLC lifted its position in shares of Pacira BioSciences by 229.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,338 shares of the company’s stock valued at $38,000 after acquiring an additional 932 shares during the period. Park Place Capital Corp acquired a new position in Pacira BioSciences during the second quarter worth $46,000. Jane Street Group LLC boosted its position in Pacira BioSciences by 1,780.2% during the first quarter. Jane Street Group LLC now owns 187,531 shares of the company’s stock worth $5,480,000 after purchasing an additional 177,557 shares in the last quarter. Paloma Partners Management Co acquired a new stake in Pacira BioSciences in the first quarter valued at $209,000. Finally, Archon Capital Management LLC purchased a new position in shares of Pacira BioSciences in the first quarter valued at $15,677,000. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Pacira BioSciences Stock Down 20.1 %

PCRX opened at $22.74 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.81 and a quick ratio of 4.78. Pacira BioSciences has a 12 month low of $20.52 and a 12 month high of $40.45. The stock has a market capitalization of $1.06 billion, a P/E ratio of 15.90 and a beta of 0.88. The business has a 50 day simple moving average of $28.69 and a 200-day simple moving average of $29.78.

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). Pacira BioSciences had a net margin of 10.34% and a return on equity of 12.98%. The business had revenue of $167.12 million during the quarter, compared to analyst estimates of $165.43 million. On average, equities 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.