Pacira BioSciences (NASDAQ:PCRX) Releases Earnings Results, Misses Expectations By $0.03 EPS

Key Points

• Pacira BioSciences reported quarterly EPS of $0.70, missing the $0.73 consensus estimate by $0.03; revenue of $176.65 million also fell short of the $182.87 million forecast.
• Shares edged up to $36.43, near the stock’s 12-month high of $36.67, despite the earnings miss.
• Analysts’ overall rating is Hold, with an average price target of $33.33; recent rating changes included downgrades to Hold and upgrades to Neutral or Strong Buy.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) announced its earnings results on Thursday. The company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.03), FiscalAI reports. The company had revenue of $176.65 million for the quarter, compared to the consensus estimate of $182.87 million. Pacira BioSciences had a return on equity of 9.68% and a net margin of 1.96%.

Pacira BioSciences Trading Up 0.0%

PCRX traded up $0.01 during trading on Friday, reaching $36.43. 537,093 shares of the stock traded hands, compared to its average volume of 2,693,118. The company has a quick ratio of 3.94, a current ratio of 5.04 and a debt-to-equity ratio of 0.54. The stock's 50-day moving average is $30.17 and its 200 day moving average is $25.21. Pacira BioSciences has a 12 month low of $18.80 and a 12 month high of $36.67. The stock has a market capitalization of $1.45 billion, a PE ratio of 23.33 and a beta of 0.21.

Insider Activity at Pacira BioSciences

In other news, SVP Lauren Riker sold 6,000 shares of the stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $36.32, for a total transaction of $217,920.00. Following the transaction, the senior vice president owned 62,284 shares of the company's stock, valued at $2,262,154.88. This represents a 8.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Slonin sold 3,040 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $23.23, for a total value of $70,619.20. Following the completion of the transaction, the insider owned 216,384 shares in the company, valued at approximately $5,026,600.32. The trade was a 1.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PCRX has been the subject of a number of recent analyst reports. Jefferies Financial Group downgraded shares of Pacira BioSciences from a "buy" rating to a "hold" rating and set a $36.00 price target for the company. in a report on Thursday, October 8th. JPMorgan Chase & Co. raised shares of Pacira BioSciences from an "underweight" rating to a "neutral" rating and set a $36.50 price objective on the stock in a research note on Thursday, October 8th. Wall Street Zen upgraded shares of Pacira BioSciences from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 26th. Weiss Ratings upgraded Pacira BioSciences from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, October 8th. Finally, HC Wainwright downgraded Pacira BioSciences from a "buy" rating to a "hold" rating and reduced their target price for the company from $38.00 to $36.50 in a report on Friday, October 9th. One research analyst has rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $33.33.

About Pacira BioSciences

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid pain-management and regenerative health solutions. The company's products are designed to address acute postsurgical pain and osteoarthritis-related pain while supporting efforts to reduce reliance on opioid medications.

Pacira's lead product is EXPAREL, an extended-release formulation of bupivacaine administered by injection for postsurgical pain management. The company also markets ZILRETTA, an extended-release corticosteroid injection indicated for osteoarthritis knee pain, and iovera°, a cryoanalgesia system that uses controlled cooling to temporarily block peripheral nerves and relieve pain.

Formerly known as Pacira Pharmaceuticals, the company adopted the Pacira BioSciences name to reflect its broader focus on innovative pain and regenerative-health therapies.

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