$109.62 Million in Sales Expected for Pacira Biosciences Inc (NASDAQ:PCRX) This Quarter

Equities analysts expect Pacira Biosciences Inc (NASDAQ:PCRX) to report sales of $109.62 million for the current quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Pacira Biosciences’ earnings, with the highest sales estimate coming in at $114.70 million and the lowest estimate coming in at $96.00 million. Pacira Biosciences reported sales of $91.31 million in the same quarter last year, which would suggest a positive year over year growth rate of 20.1%. The company is expected to report its next earnings report on Thursday, May 7th.

On average, analysts expect that Pacira Biosciences will report full-year sales of $486.77 million for the current year, with estimates ranging from $424.50 million to $500.20 million. For the next fiscal year, analysts expect that the firm will report sales of $558.08 million, with estimates ranging from $509.20 million to $596.40 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Pacira Biosciences.

Pacira Biosciences (NASDAQ:PCRX) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.35. Pacira Biosciences had a negative net margin of 2.62% and a positive return on equity of 10.81%. The company had revenue of $122.42 million during the quarter, compared to the consensus estimate of $122.04 million. During the same quarter in the prior year, the firm earned $0.47 earnings per share. The firm’s revenue was up 28.7% compared to the same quarter last year.

Several equities research analysts have recently issued reports on PCRX shares. HC Wainwright increased their price objective on shares of Pacira Biosciences from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. SunTrust Banks started coverage on shares of Pacira Biosciences in a research report on Thursday, January 23rd. They set a “buy” rating and a $60.00 price objective for the company. BidaskClub downgraded shares of Pacira Biosciences from a “buy” rating to a “hold” rating in a research report on Thursday, March 5th. Wedbush reissued a “buy” rating and set a $85.00 price objective on shares of Pacira Biosciences in a research report on Thursday, February 20th. Finally, Zacks Investment Research downgraded shares of Pacira Biosciences from a “strong-buy” rating to a “hold” rating and set a $47.00 price objective for the company. in a research report on Wednesday, January 8th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $53.56.

Shares of PCRX stock opened at $32.44 on Friday. The firm has a fifty day moving average of $41.68 and a 200-day moving average of $41.98. The company has a quick ratio of 3.25, a current ratio of 3.79 and a debt-to-equity ratio of 0.98. Pacira Biosciences has a 12-month low of $27.46 and a 12-month high of $51.35. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -115.85, a P/E/G ratio of 0.67 and a beta of 1.15.

In other news, insider Roy Winston purchased 2,500 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was purchased at an average price of $36.50 per share, for a total transaction of $91,250.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David M. Stack sold 25,000 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $42.68, for a total transaction of $1,067,000.00. The disclosure for this sale can be found here. Corporate insiders own 5.80% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Thrivent Financial for Lutherans lifted its stake in Pacira Biosciences by 0.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 33,228 shares of the company’s stock valued at $1,505,000 after acquiring an additional 226 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in Pacira Biosciences by 0.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 47,874 shares of the company’s stock valued at $2,169,000 after acquiring an additional 241 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Pacira Biosciences by 0.4% in the fourth quarter. Alliancebernstein L.P. now owns 64,814 shares of the company’s stock valued at $2,936,000 after acquiring an additional 250 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Pacira Biosciences by 4.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,490 shares of the company’s stock valued at $339,000 after acquiring an additional 300 shares during the last quarter. Finally, J. Goldman & Co LP lifted its stake in Pacira Biosciences by 0.8% in the fourth quarter. J. Goldman & Co LP now owns 40,325 shares of the company’s stock valued at $1,827,000 after acquiring an additional 325 shares during the last quarter.

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.

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Earnings History and Estimates for Pacira Biosciences (NASDAQ:PCRX)

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