Pacira BioSciences (NASDAQ:PCRX) Announces Quarterly Earnings Results, Misses Estimates By $0.03 EPS

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

Pacira BioSciences Stock Performance

NASDAQ PCRX traded up $0.01 on Friday, hitting $36.43. The stock had a trading volume of 537,093 shares, compared to its average volume of 2,693,118. Pacira BioSciences has a one year low of $18.80 and a one year high of $36.67. The company’s 50-day moving average is $30.17 and its two-hundred day moving average is $25.21. 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 has a market cap of $1.45 billion, a price-to-earnings ratio of 104.09 and a beta of 0.21.

Wall Street Analyst Weigh In

PCRX has been the topic of several research analyst reports. Truist Financial lowered Pacira BioSciences from a “buy” rating to a “hold” rating and lifted their price target for the stock from $31.00 to $36.50 in a research report on Friday, October 9th. Weiss Ratings raised Pacira BioSciences from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Royal Bank Of Canada upped their price target on shares of Pacira BioSciences from $25.00 to $36.50 and gave the company a “sector perform” rating in a report on Friday, October 9th. Leerink Partners initiated coverage on shares of Pacira BioSciences in a research note on Wednesday, September 9th. They issued a “market perform” rating and a $28.00 target price for the company. Finally, Jefferies Financial Group cut Pacira BioSciences from a “buy” rating to a “hold” rating and set a $36.00 price objective on the stock. in a report on Thursday, October 8th. One research analyst has rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $33.33.

Insider Transactions at Pacira BioSciences

In other Pacira BioSciences news, insider Jonathan Slonin sold 3,040 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $23.23, for a total transaction of $70,619.20. Following the sale, 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Lauren Riker sold 6,000 shares of the company’s stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $36.32, for a total value of $217,920.00. Following the transaction, the senior vice president directly owned 62,284 shares in the company, valued at $2,262,154.88. The trade was a 8.79% decrease in their ownership of the stock. 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 owned by insiders.

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.