Zacks: Analysts Anticipate Pacira BioSciences, Inc. (NASDAQ:PCRX) Will Announce Quarterly Sales of $177.98 Million

Wall Street brokerages expect Pacira BioSciences, Inc. (NASDAQ:PCRX – Get Rating) to post sales of $177.98 million for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Pacira BioSciences’ earnings, with the lowest sales estimate coming in at $169.92 million and the highest estimate coming in at $185.50 million. Pacira BioSciences reported sales of $135.59 million in the same quarter last year, which indicates a positive year-over-year growth rate of 31.3%. The business is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Pacira BioSciences will report full year sales of $724.98 million for the current year, with estimates ranging from $705.19 million to $746.47 million. For the next financial year, analysts anticipate that the company will report sales of $856.05 million, with estimates ranging from $813.34 million to $951.32 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Pacira BioSciences.

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

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

In other Pacira BioSciences news, insider Anthony Molloy sold 22,500 shares of the business’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 completion of the transaction, the insider now directly owns 17,550 shares in the company, valued at approximately $1,341,171. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary W. Pace sold 1,359 shares of the business’s stock in a transaction on Tuesday, March 1st. The shares were sold at an average price of $67.75, for a total value of $92,072.25. The disclosure for this sale can be found here. Insiders have sold a total of 69,607 shares of company stock valued at $5,092,865 over the last 90 days. Insiders own 5.20% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. UMB Bank N A MO acquired a new position in Pacira BioSciences in the 4th quarter valued at $25,000. First Horizon Advisors Inc. raised its holdings in Pacira BioSciences by 143.6% in the 4th quarter. First Horizon Advisors Inc. now owns 436 shares of the company’s stock valued at $26,000 after acquiring an additional 257 shares during the last quarter. Spire Wealth Management purchased a new stake in shares of Pacira BioSciences during the 1st quarter valued at $38,000. First Quadrant L P CA purchased a new stake in shares of Pacira BioSciences during the 4th quarter valued at $39,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Pacira BioSciences during the 1st quarter valued at $42,000.

NASDAQ PCRX opened at $63.59 on Friday. Pacira BioSciences has a 52-week low of $45.05 and a 52-week high of $82.16. The business’s 50-day moving average price is $71.88 and its 200 day moving average price is $64.90. The firm has a market cap of $2.89 billion, a P/E ratio of 75.70 and a beta of 0.88. The company has a quick ratio of 1.85, a current ratio of 2.19 and a debt-to-equity ratio of 1.03.

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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