Zacks: Analysts Expect Pacira BioSciences, Inc. (NASDAQ:PCRX) to Announce $0.73 EPS

Wall Street brokerages expect Pacira BioSciences, Inc. (NASDAQ:PCRX) to announce earnings of $0.73 per share for the current quarter, Zacks reports. Seven analysts have made estimates for Pacira BioSciences’ earnings. The highest EPS estimate is $0.90 and the lowest is $0.68. Pacira BioSciences reported earnings of $0.68 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.4%. The business is scheduled to report its next quarterly earnings report on Thursday, November 4th.

According to Zacks, analysts expect that Pacira BioSciences will report full year earnings of $2.91 per share for the current year, with EPS estimates ranging from $2.72 to $3.01. For the next financial year, analysts forecast that the company will post earnings of $3.81 per share, with EPS estimates ranging from $3.46 to $4.18. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Pacira BioSciences.

Pacira BioSciences (NASDAQ:PCRX) last announced its quarterly earnings data on Monday, August 2nd. The company reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.03. Pacira BioSciences had a net margin of 34.60% and a return on equity of 14.35%. The business had revenue of $135.60 million for the quarter, compared to analyst estimates of $135.02 million. During the same period last year, the business earned $0.12 EPS. The company’s revenue was up 79.6% on a year-over-year basis.

PCRX has been the topic of a number of analyst reports. JPMorgan Chase & Co. upgraded shares of Pacira BioSciences from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $70.00 to $75.00 in a report on Monday, July 26th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Pacira BioSciences from a “hold” rating to a “strong sell” rating and set a $48.00 price objective on the stock. in a report on Tuesday, September 14th. HC Wainwright reduced their price objective on shares of Pacira BioSciences from $86.00 to $84.00 and set a “buy” rating on the stock in a report on Wednesday, August 4th. Finally, TheStreet upgraded shares of Pacira BioSciences from a “c+” rating to a “b” rating in a report on Monday, August 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $76.85.

Shares of PCRX traded up $0.61 during midday trading on Tuesday, reaching $55.99. The stock had a trading volume of 2,482 shares, compared to its average volume of 439,494. Pacira BioSciences has a 1-year low of $48.23 and a 1-year high of $80.00. The company’s fifty day simple moving average is $57.65 and its two-hundred day simple moving average is $62.02. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 14.34 and a beta of 1.07. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.47 and a quick ratio of 3.18.

In other news, insider Max Reinhardt sold 421 shares of the business’s stock in a transaction dated Friday, July 2nd. The stock was sold at an average price of $59.76, for a total value of $25,158.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.20% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. The PNC Financial Services Group Inc. raised its stake in Pacira BioSciences by 23.6% during the 1st quarter. The PNC Financial Services Group Inc. now owns 19,682 shares of the company’s stock valued at $1,380,000 after acquiring an additional 3,759 shares during the last quarter. Lisanti Capital Growth LLC purchased a new position in shares of Pacira BioSciences during the 1st quarter worth approximately $12,834,000. Quantbot Technologies LP raised its stake in shares of Pacira BioSciences by 182.4% during the 1st quarter. Quantbot Technologies LP now owns 1,765 shares of the company’s stock worth $123,000 after buying an additional 1,140 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Pacira BioSciences by 1.3% during the 1st quarter. Prudential Financial Inc. now owns 51,072 shares of the company’s stock worth $3,580,000 after buying an additional 676 shares in the last quarter. Finally, Baillie Gifford & Co. raised its stake in shares of Pacira BioSciences by 0.3% during the 2nd quarter. Baillie Gifford & Co. now owns 2,102,759 shares of the company’s stock worth $127,595,000 after buying an additional 7,278 shares in the last quarter.

Pacira BioSciences Company Profile

Pacira Biosciences, Inc is a holding company, which provide non-opioid pain management and regenerative health solutions to improve patients’ journeys along the neural pain pathway. Its products include EXPAREL, iovera, and DepoFoam.The company was founded in December 2006 and is headquartered in Parsippany, NJ.

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

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