Zacks: Brokerages Anticipate Pacira BioSciences, Inc. (NASDAQ:PCRX) Will Announce Earnings of $0.91 Per Share

Equities analysts predict that Pacira BioSciences, Inc. (NASDAQ:PCRX – Get Rating) will announce earnings per share of $0.91 for the current quarter, according to Zacks. Six analysts have issued estimates for Pacira BioSciences’ earnings, with the lowest EPS estimate coming in at $0.78 and the highest estimate coming in at $1.04. Pacira BioSciences reported earnings of $0.77 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 18.2%. The firm is expected to report its next earnings results on Monday, January 1st.

On average, analysts expect that Pacira BioSciences will report full-year earnings of $3.89 per share for the current fiscal year, with EPS estimates ranging from $3.42 to $4.48. For the next fiscal year, analysts expect that the firm will report earnings of $5.21 per share, with EPS estimates ranging from $4.14 to $5.98. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Pacira BioSciences.

Pacira BioSciences (NASDAQ:PCRX – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.19). The business had revenue of $157.99 million during the quarter, compared to analysts’ expectations of $155.08 million. Pacira BioSciences had a return on equity of 15.17% and a net margin of 6.62%. The business’s quarterly revenue was up 32.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.37 earnings per share.

A number of equities analysts have commented on PCRX shares. HC Wainwright lifted their target price on shares of Pacira BioSciences from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, February 25th. StockNews.com started coverage on shares of Pacira BioSciences in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Northland Securities lifted their target price on shares of Pacira BioSciences from $61.00 to $67.00 in a research note on Tuesday, March 1st. Wedbush reaffirmed a “buy” rating and set a $94.00 target price (down from $97.00) on shares of Pacira BioSciences in a research note on Saturday, February 26th. Finally, TheStreet downgraded shares of Pacira BioSciences from a “b-” rating to a “c” rating in a research note on Thursday, February 24th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $80.63.

Shares of NASDAQ:PCRX traded up $0.55 during midday trading on Friday, hitting $63.59. The company’s stock had a trading volume of 351,717 shares, compared to its average volume of 541,323. The business’s 50 day simple moving average is $71.88 and its 200 day simple moving average is $64.84. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.85 and a current ratio of 2.19. The company has a market cap of $2.89 billion, a P/E ratio of 75.70 and a beta of 0.88. Pacira BioSciences has a 12-month low of $45.05 and a 12-month high of $82.16.

In other Pacira BioSciences news, Director Mark Froimson sold 1,000 shares of the company’s stock in a transaction on Monday, May 9th. The stock was sold at an average price of $59.37, for a total transaction of $59,370.00. Following the transaction, the director now directly owns 4,908 shares in the company, valued at $291,387.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anthony Molloy sold 22,500 shares of the company’s stock in a transaction on Wednesday, April 6th. The stock was sold at an average price of $76.42, for a total value of $1,719,450.00. Following the transaction, the insider now owns 17,550 shares in the company, valued at $1,341,171. The disclosure for this sale can be found here. Insiders have sold 69,607 shares of company stock worth $5,092,865 over the last 90 days. 5.20% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in PCRX. Van Hulzen Asset Management LLC raised its stake in shares of Pacira BioSciences by 1.4% in the first quarter. Van Hulzen Asset Management LLC now owns 12,742 shares of the company’s stock valued at $972,000 after acquiring an additional 178 shares in the last quarter. Walleye Capital LLC raised its stake in shares of Pacira BioSciences by 17.3% in the first quarter. Walleye Capital LLC now owns 135,027 shares of the company’s stock valued at $10,305,000 after acquiring an additional 19,930 shares in the last quarter. Avalon Investment & Advisory acquired a new stake in shares of Pacira BioSciences in the first quarter valued at $3,592,000. Point72 Hong Kong Ltd raised its stake in shares of Pacira BioSciences by 99.9% in the first quarter. Point72 Hong Kong Ltd now owns 3,494 shares of the company’s stock valued at $267,000 after acquiring an additional 1,746 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Pacira BioSciences by 63.9% in the first quarter. Royal Bank of Canada now owns 34,748 shares of the company’s stock valued at $2,653,000 after acquiring an additional 13,542 shares in the last quarter.

About Pacira BioSciences (Get Rating)

Pacira BioSciences, Inc provides non-opioid pain management and regenerative health solutions for healthcare practitioners and their patients 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 only to targeted nerves.

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