Analysts forecast that Pacira Biosciences Inc (NASDAQ:PCRX) will report $114.91 million in sales for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for Pacira Biosciences' earnings, with estimates ranging from $111.70 million to $117.70 million. Pacira Biosciences reported sales of $104.69 million in the same quarter last year, which indicates a positive year-over-year growth rate of 9.8%. The company is scheduled to announce its next earnings report on Thursday, November 5th.
On average, analysts expect that Pacira Biosciences will report full year sales of $428.08 million for the current fiscal year, with estimates ranging from $408.85 million to $436.70 million. For the next fiscal year, analysts anticipate that the firm will report sales of $547.87 million, with estimates ranging from $500.60 million to $614.50 million. Zacks' sales averages are an average based on a survey of analysts that that provide coverage for Pacira Biosciences.
Pacira Biosciences (NASDAQ:PCRX) last announced its earnings results on Thursday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.03. Pacira Biosciences had a negative net margin of 2.47% and a positive return on equity of 10.27%. The company had revenue of $75.50 million during the quarter, compared to analyst estimates of $75.57 million. During the same period in the previous year, the business earned $0.41 earnings per share. The firm's quarterly revenue was down 26.4% compared to the same quarter last year.
Several research firms have weighed in on PCRX. Piper Sandler boosted their price target on shares of Pacira Biosciences from $49.00 to $65.00 and gave the stock an "overweight" rating in a research note on Monday, July 6th. Wedbush reaffirmed a "buy" rating and set a $85.00 price objective on shares of Pacira Biosciences in a research note on Wednesday, October 7th. SVB Leerink upped their price objective on shares of Pacira Biosciences from $45.00 to $58.00 and gave the company an "outperform" rating in a research note on Tuesday, June 30th. Northland Securities raised shares of Pacira Biosciences from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $58.00 to $67.00 in a research note on Monday, September 21st. Finally, Royal Bank of Canada upped their price objective on shares of Pacira Biosciences from $56.00 to $62.00 and gave the company an "outperform" rating in a research note on Wednesday, July 1st. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of "Buy" and an average price target of $62.60.
Shares of NASDAQ:PCRX opened at $55.99 on Monday. Pacira Biosciences has a 52-week low of $27.46 and a 52-week high of $64.44. The firm has a fifty day moving average of $59.54 and a 200 day moving average of $50.21. The firm has a market capitalization of $2.39 billion, a PE ratio of -223.96, a price-to-earnings-growth ratio of 1.60 and a beta of 1.31. The company has a debt-to-equity ratio of 0.81, a quick ratio of 5.51 and a current ratio of 6.46.
In other Pacira Biosciences news, SVP Charles Anthony Laranjeira sold 2,500 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $52.68, for a total value of $131,700.00. Following the transaction, the senior vice president now directly owns 22,750 shares in the company, valued at $1,198,470. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andreas Wicki sold 106,772 shares of the firm's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $61.32, for a total transaction of $6,547,259.04. The disclosure for this sale can be found here. Insiders sold 240,845 shares of company stock worth $14,483,304 in the last 90 days. 6.20% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. Tributary Capital Management LLC bought a new stake in shares of Pacira Biosciences during the 3rd quarter valued at $8,381,000. Envestnet Asset Management Inc. grew its stake in Pacira Biosciences by 165.4% during the third quarter. Envestnet Asset Management Inc. now owns 12,891 shares of the company's stock valued at $775,000 after acquiring an additional 8,033 shares in the last quarter. First Hawaiian Bank grew its stake in Pacira Biosciences by 9.6% during the third quarter. First Hawaiian Bank now owns 10,000 shares of the company's stock valued at $601,000 after acquiring an additional 880 shares in the last quarter. FinTrust Capital Advisors LLC grew its stake in Pacira Biosciences by 102.3% during the second quarter. FinTrust Capital Advisors LLC now owns 1,487 shares of the company's stock valued at $78,000 after acquiring an additional 752 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Pacira Biosciences by 2.5% during the second quarter. Principal Financial Group Inc. now owns 383,271 shares of the company's stock valued at $20,110,000 after acquiring an additional 9,219 shares in the last quarter.
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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