Traders Buy Large Volume of Put Options on Pacira BioSciences (NASDAQ:PCRX)

Pacira BioSciences, Inc. (NASDAQ:PCRX) was the target of unusually large options trading activity on Monday. Stock traders bought 4,984 put options on the company. This is an increase of approximately 322% compared to the typical volume of 1,182 put options.

Insider Transactions at Pacira BioSciences

In related news, insider Jonathan Slonin sold 2,836 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $28.25, for a total transaction of $80,117.00. Following the completion of the sale, the insider now owns 95,557 shares of the company’s stock, valued at approximately $2,699,485.25. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Kristen Williams sold 7,452 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $28.38, for a total transaction of $211,487.76. Following the completion of the sale, the insider now owns 102,912 shares of the company’s stock, valued at approximately $2,920,642.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan Slonin sold 2,836 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $28.25, for a total transaction of $80,117.00. Following the sale, the insider now directly owns 95,557 shares of the company’s stock, valued at approximately $2,699,485.25. The disclosure for this sale can be found here. Insiders sold 22,095 shares of company stock valued at $621,118 over the last 90 days. Corporate insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Pacira BioSciences

Several large investors have recently made changes to their positions in the stock. Vestal Point Capital LP acquired a new stake in Pacira BioSciences during the 4th quarter worth approximately $40,488,000. Archon Capital Management LLC acquired a new stake in Pacira BioSciences during the 1st quarter worth approximately $15,677,000. Fort Washington Investment Advisors Inc. OH acquired a new stake in Pacira BioSciences during the 2nd quarter worth approximately $13,240,000. Frontier Capital Management Co. LLC lifted its holdings in Pacira BioSciences by 15.8% during 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 in the last quarter. Finally, Norges Bank acquired a new stake in Pacira BioSciences during the 4th quarter worth approximately $9,542,000. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Piper Sandler lowered shares of Pacira BioSciences from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $42.00 to $11.00 in a report on Monday. HC Wainwright decreased their target price on shares of Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating on the stock in a report on Monday. Raymond James lowered shares of Pacira BioSciences from an “outperform” rating to a “market perform” rating in a report on Monday. StockNews.com upgraded shares of Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. Finally, Barclays lowered shares of Pacira BioSciences from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $38.00 to $25.00 in a report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Pacira BioSciences currently has an average rating of “Moderate Buy” and a consensus price target of $27.22.

Pacira BioSciences Trading Up 5.0 %

Shares of PCRX stock traded up $0.59 during trading hours on Monday, hitting $12.29. The company had a trading volume of 6,889,021 shares, compared to its average volume of 825,672. The company’s fifty day moving average is $23.99 and its 200 day moving average is $27.36. The company has a debt-to-equity ratio of 0.67, a current ratio of 6.82 and a quick ratio of 5.70. Pacira BioSciences has a fifty-two week low of $11.26 and a fifty-two week high of $38.23. The stock has a market capitalization of $572.05 million, a PE ratio of 8.76 and a beta of 0.88.

Pacira BioSciences Company Profile

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.