Pacira Biosciences Inc (NASDAQ:PCRX) was the target of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 4,350,000 shares, a growth of 24.3% from the September 30th total of 3,500,000 shares. Approximately 10.8% of the company’s shares are short sold. Based on an average daily volume of 774,200 shares, the short-interest ratio is currently 5.6 days.

Shares of NASDAQ PCRX traded down $0.37 during mid-day trading on Tuesday, hitting $43.14. 10,027 shares of the stock traded hands, compared to its average volume of 478,323. The company has a debt-to-equity ratio of 0.98, a quick ratio of 3.32 and a current ratio of 3.95. Pacira Biosciences has a 52 week low of $34.64 and a 52 week high of $50.90. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 148.41, a PEG ratio of 2.04 and a beta of 1.13. The stock has a fifty day moving average price of $39.47 and a 200-day moving average price of $41.18.

Pacira Biosciences (NASDAQ:PCRX) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.35. Pacira Biosciences had a return on equity of 10.19% and a net margin of 0.55%. The company had revenue of $104.69 million for the quarter, compared to analyst estimates of $104.88 million. During the same period in the previous year, the company posted $0.31 earnings per share. The firm’s revenue was up 25.5% on a year-over-year basis. As a group, sell-side analysts predict that Pacira Biosciences will post 0.63 EPS for the current fiscal year.

PCRX has been the topic of a number of analyst reports. Zacks Investment Research raised Pacira Biosciences from a “sell” rating to a “hold” rating and set a $47.00 price target on the stock in a research note on Friday, August 2nd. BMO Capital Markets reduced their target price on Pacira Biosciences from $46.00 to $43.00 and set a “market perform” rating on the stock in a research note on Friday, August 9th. Jefferies Financial Group set a $60.00 target price on Pacira Biosciences and gave the company a “buy” rating in a research note on Tuesday, October 8th. BTIG Research initiated coverage on Pacira Biosciences in a research note on Wednesday, November 6th. They set a “buy” rating and a $56.00 target price on the stock. Finally, Needham & Company LLC reissued a “buy” rating and set a $56.00 target price on shares of Pacira Biosciences in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. Pacira Biosciences presently has a consensus rating of “Hold” and a consensus price target of $52.55.

In other Pacira Biosciences news, insider Kristen Marie Williams sold 6,252 shares of Pacira Biosciences stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $39.49, for a total value of $246,891.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO David M. Stack sold 12,849 shares of Pacira Biosciences stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $39.15, for a total value of $503,038.35. The disclosure for this sale can be found here. 5.80% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Usca Ria LLC bought a new stake in shares of Pacira Biosciences during the third quarter valued at approximately $38,000. HM Payson & Co. bought a new stake in shares of Pacira Biosciences during the second quarter valued at approximately $39,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Pacira Biosciences during the second quarter valued at approximately $44,000. LS Investment Advisors LLC bought a new stake in shares of Pacira Biosciences during the third quarter valued at approximately $50,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Pacira Biosciences by 414.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,436 shares of the company’s stock valued at $63,000 after purchasing an additional 1,157 shares in the last quarter. Institutional investors own 99.13% of the company’s stock.

Pacira Biosciences Company Profile

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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