Wall Street brokerages forecast that Pacira Biosciences Inc (NASDAQ:PCRX) will announce sales of $105.45 million for the current quarter, according to Zacks. Seven analysts have provided estimates for Pacira Biosciences’ earnings. The lowest sales estimate is $103.15 million and the highest is $108.20 million. Pacira Biosciences reported sales of $83.45 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 26.4%. The company is scheduled to report its next quarterly earnings report on Thursday, November 7th.
On average, analysts expect that Pacira Biosciences will report full year sales of $418.83 million for the current financial year, with estimates ranging from $416.74 million to $420.67 million. For the next fiscal year, analysts anticipate that the company will report sales of $486.79 million, with estimates ranging from $455.00 million to $530.89 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Pacira Biosciences.
Pacira Biosciences (NASDAQ:PCRX) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.27. The company had revenue of $102.60 million for the quarter, compared to analyst estimates of $99.92 million. Pacira Biosciences had a return on equity of 8.62% and a net margin of 2.04%. The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 earnings per share.
A number of equities analysts have weighed in on PCRX shares. BidaskClub lowered Pacira Biosciences from a “hold” rating to a “sell” rating in a research note on Friday, August 16th. BMO Capital Markets lowered their price objective on Pacira Biosciences from $46.00 to $43.00 and set a “market perform” rating on the stock in a research note on Friday, August 9th. Wedbush set a $85.00 price objective on Pacira Biosciences and gave the stock a “buy” rating in a research note on Friday, June 28th. Zacks Investment Research raised Pacira Biosciences from a “sell” rating to a “hold” rating and set a $47.00 price objective on the stock in a research note on Friday, August 2nd. Finally, Stifel Nicolaus set a $42.00 price objective on Pacira Biosciences and gave the stock a “hold” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $54.13.
In other news, CEO David M. Stack sold 13,115 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $42.88, for a total value of $562,371.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Lauren Bullaro Riker sold 2,126 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $44.28, for a total value of $94,139.28. Following the completion of the transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $444,659.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,342 shares of company stock worth $1,406,440. Corporate insiders own 5.80% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of PCRX. Frontier Capital Management Co. LLC acquired a new position in Pacira Biosciences during the 1st quarter worth about $52,509,000. Nuveen Asset Management LLC acquired a new position in Pacira Biosciences during the 2nd quarter worth about $37,881,000. Paulson & CO. Inc. lifted its stake in Pacira Biosciences by 283.6% during the 2nd quarter. Paulson & CO. Inc. now owns 958,997 shares of the company’s stock worth $41,707,000 after acquiring an additional 708,997 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in Pacira Biosciences by 83.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,164,641 shares of the company’s stock worth $50,650,000 after acquiring an additional 531,059 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its stake in Pacira Biosciences by 32.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,248,573 shares of the company’s stock worth $54,301,000 after acquiring an additional 306,129 shares in the last quarter.
NASDAQ PCRX opened at $36.67 on Tuesday. The stock’s fifty day moving average is $40.10 and its two-hundred day moving average is $41.14. The firm has a market capitalization of $1.53 billion, a P/E ratio of 126.45, a price-to-earnings-growth ratio of 1.64 and a beta of 1.13. The company has a debt-to-equity ratio of 0.99, a quick ratio of 4.12 and a current ratio of 4.75. Pacira Biosciences has a fifty-two week low of $35.07 and a fifty-two week high of $55.00.
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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