Pacira Biosciences (NASDAQ:PCRX) Releases Earnings Results, Beats Estimates By $0.35 EPS

Pacira Biosciences (NASDAQ:PCRX) posted its quarterly earnings results on Thursday. The company reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.35, Briefing.com reports. Pacira Biosciences had a net margin of 2.04% and a return on equity of 8.62%. The business had revenue of $104.69 million for the quarter, compared to the consensus estimate of $104.88 million. During the same period in the prior year, the business posted $0.31 earnings per share. Pacira Biosciences’s revenue for the quarter was up 25.5% compared to the same quarter last year.

Pacira Biosciences stock traded up $1.40 during mid-day trading on Friday, hitting $44.02. 711,200 shares of the company’s stock were exchanged, compared to its average volume of 631,161. The stock has a market cap of $1.76 billion, a P/E ratio of 151.79, a P/E/G ratio of 1.96 and a beta of 1.13. The company has a current ratio of 4.75, a quick ratio of 4.12 and a debt-to-equity ratio of 0.99. Pacira Biosciences has a 1-year low of $34.64 and a 1-year high of $50.90. The stock has a 50 day moving average of $39.20 and a two-hundred day moving average of $41.12.

A number of research firms have recently weighed in on PCRX. BTIG Research began coverage on shares of Pacira Biosciences in a research note on Wednesday. They issued a “buy” rating and a $56.00 price target on the stock. Cowen reaffirmed a “hold” rating and issued a $41.00 price target on shares of Pacira Biosciences in a research note on Thursday. Jefferies Financial Group set a $60.00 price target on shares of Pacira Biosciences and gave the stock a “buy” rating in a research note on Tuesday, October 8th. BidaskClub raised shares of Pacira Biosciences from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, BMO Capital Markets dropped their price target on shares of 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $52.55.

In other news, insider Kristen Marie Williams sold 6,252 shares of Pacira Biosciences stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $39.49, for a total value of $246,891.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David M. Stack sold 12,849 shares of Pacira Biosciences stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $39.15, for a total transaction of $503,038.35. The disclosure for this sale can be found here. 5.80% of the stock is owned by company insiders.

About Pacira Biosciences

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.

Further Reading: What is Depreciation?

Earnings History for Pacira Biosciences (NASDAQ:PCRX)

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