Director Mark Froimson buys 1.4K shares of PCRX at $11.58 as stock down 67.8% from 52-week high; cluster buy pattern underway.
Director Froimson purchased 1,400 shares at $11.58 on 2024-08-12, increasing his holdings to 14,473 shares and representing a 10.7% increase from his prior position of 13,073 shares. The purchase occurs as Pacira trades at a significant discount to its 52-week high of $38.18 — approximately 67.8% below the peak — and has declined 43.5% over the past 30 days and 60.1% over the past 90 days. The discretionary open-market purchase is notable because 2 other insiders have also bought within the past 14 days, forming a cluster buy pattern rather than an isolated transaction. The company maintains profitability with net income of $18,886,000.00 on quarterly revenue of $178,023,000.00, and trades at a modest P/E of 8.91, though annual revenue growth stands at only 1.2%.