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

Pacira BioSciences, Inc. (NASDAQ:PCRX) was the target of some unusual options trading on Tuesday. Investors purchased 5,734 put options on the stock. This is an increase of approximately 1,898% compared to the average volume of 287 put options.

Pacira BioSciences Price Performance

Shares of PCRX opened at $21.66 on Thursday. The business’s 50-day moving average is $28.60 and its two-hundred day moving average is $29.73. The company has a market capitalization of $1.01 billion, a P/E ratio of 15.15 and a beta of 0.88. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.78 and a current ratio of 5.81. Pacira BioSciences has a fifty-two week low of $20.52 and a fifty-two week high of $40.16.

Pacira BioSciences (NASDAQ:PCRX) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.04). Pacira BioSciences had a return on equity of 12.98% and a net margin of 10.34%. The company had revenue of $167.12 million for the quarter, compared to analyst estimates of $165.43 million. Research analysts predict that Pacira BioSciences will post 2.13 earnings per share for the current year.

Analyst Ratings Changes

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

Insider Buying and Selling at Pacira BioSciences

In other Pacira BioSciences news, SVP Lauren Riker sold 3,970 shares of the stock in a transaction 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 sale, the senior vice president now owns 38,075 shares of the company’s stock, valued at approximately $1,093,514. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Lauren Riker sold 3,970 shares of the stock in a transaction 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 completion of the sale, the senior vice president now owns 38,075 shares in the company, valued at approximately $1,093,514. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jonathan Slonin sold 5,012 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $28.57, for a total value of $143,192.84. Following the sale, the insider now owns 44,569 shares of the company’s stock, valued at approximately $1,273,336.33. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,150 shares of company stock valued at $602,170. 6.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pacira BioSciences

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Pacira BioSciences by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,113,384 shares of the company’s stock valued at $149,413,000 after acquiring an additional 14,960 shares during the period. Frontier Capital Management Co. LLC boosted its holdings in Pacira BioSciences by 15.8% in the 4th quarter. Frontier Capital Management Co. LLC now owns 2,084,542 shares of the company’s stock worth $70,332,000 after buying an additional 285,045 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Pacira BioSciences by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,411,767 shares of the company’s stock worth $47,633,000 after buying an additional 17,949 shares during the last quarter. Vestal Point Capital LP acquired a new stake in Pacira BioSciences in the 4th quarter worth about $40,488,000. Finally, Clearbridge Investments LLC boosted its holdings in Pacira BioSciences by 2.3% in the 1st quarter. Clearbridge Investments LLC now owns 1,172,150 shares of the company’s stock worth $34,250,000 after buying an additional 26,463 shares during the last quarter. 99.73% of the stock is currently owned by institutional investors and hedge funds.

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.