Pacira (PCRX) Q1 Earnings Miss, Exparel Sales Drive Revenues

Zacks05-08

Pacira BioSciences, Inc. PCRX reported first-quarter 2024 adjusted earnings of 62 cents per share, which missed the Zacks Consensus Estimate of 64 cents. The company had reported adjusted earnings of ...

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The company had reported adjusted earnings of ...</p>\n\n<a href=\"https://finance.yahoo.com/news/pacira-pcrx-q1-earnings-miss-153500113.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Pacira (PCRX) Q1 Earnings Miss, Exparel Sales Drive Revenues</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPacira (PCRX) Q1 Earnings Miss, Exparel Sales Drive Revenues\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-08 23:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/pacira-pcrx-q1-earnings-miss-153500113.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Pacira BioSciences, Inc. PCRX reported first-quarter 2024 adjusted earnings of 62 cents per share, which missed the Zacks Consensus Estimate of 64 cents. The company had reported adjusted earnings of ...</p>\n\n<a href=\"https://finance.yahoo.com/news/pacira-pcrx-q1-earnings-miss-153500113.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ANIP","symbol_name":"ANI Pharmaceuticals, Inc.","start_time":0,"source_url":"https://finance.yahoo.com/news/pacira-pcrx-q1-earnings-miss-153500113.html","article_id":"2434711527","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/0.VF5p.GUKhgU24gMni2XA--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/59a827b8514d5d6d47690daa5eb16f24"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2434711527","pubTimestamp":1715182500,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Pacira BioSciences, Inc.PCRX reported first-quarter 2024 adjusted earnings of 62 cents per share, which missed the Zacks Consensus Estimate of 64 cents. The company had reported adjusted earnings of 49 cents per share in the year-ago quarter.Total revenues amounted to $167.1 million, which increased 4% year over year and surpassed the Zacks Consensus Estimate of $165 million.Pacira’s top line comprises product sales and royalty revenues. The company recognizes product revenues from the sales of its three marketed drugs: Exparel, Zilretta and iovera.Exparel’s net product sales were $132.4 million, which rose 2% from the year-ago quarter and missed both the Zacks Consensus Estimate of $134.6 million and our estimate of $133.3 million. Revenues generated from Exparel sales were negatively impacted by contracted discounts and vial mix, which led to the low sales growth rate in the reported quarter.The company anticipates adjusted R&D expenses between $70 million and $80 million,","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"ANIP":"ANI Pharmaceuticals, Inc.","LGND":"Ligand Pharmaceuticals Inc.","ANVS":"Annovis Bio, Inc.","PCRX":"Pacira Pharmaceuticals"},"translate_title":"Pacira(PCRX)Q1盈利不佳，Exparel销售带动收入","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PCRX":1,"ANIP":0.9,"ANVS":0.9,"LGND":0.9},"content_text":"Pacira BioSciences, Inc. PCRX reported first-quarter 2024 adjusted earnings of 62 cents per share, which missed the Zacks Consensus Estimate of 64 cents. The company had reported adjusted earnings of 49 cents per share in the year-ago quarter.\nTotal revenues amounted to $167.1 million, which increased 4% year over year and surpassed the Zacks Consensus Estimate of $165 million.\nQuarter in Detail\nPacira’s top line comprises product sales and royalty revenues. The company recognizes product revenues from the sales of its three marketed drugs: Exparel, Zilretta and iovera.\nExparel’s net product sales were $132.4 million, which rose 2% from the year-ago quarter and missed both the Zacks Consensus Estimate of $134.6 million and our estimate of $133.3 million. Revenues generated from Exparel sales were negatively impacted by contracted discounts and vial mix, which led to the low sales growth rate in the reported quarter.\nExparel (bupivacaine liposome injectable suspension) is indicated in patients aged six years and older for single-dose infiltration to produce postsurgical local analgesia and in adults as an interscalene brachial plexus nerve block to produce postsurgical regional analgesia.\nZilretta’s net product sales came in at $25.8 million, up 6% year over year. Pacira completed the acquisition of Flexion Therapeutics in November 2021, following which, the former began recognizing Zilretta sales. The reported figure missed the Zacks Consensus Estimate of $26.7 million but beat our model estimate of $24.4 million.\nNet product sales of iovera were $5 million, up 26% from the year-ago quarter. The figure marginally missed the Zacks Consensus Estimate of $5.2 million and matched our model estimate.\nRevenues generated from the sales of bupivacaine liposome injectable suspension to third-party licenses were pegged at $2.5 million, up significantly from the year-ago quarter’s figure.\nRoyalty revenues amounted to $1.3 million in the reported quarter, up 42% year over year.\nYear to date, shares of Pacira have plunged 21.4% compared with the industry’s 6.8% decline.\nImage Source: Zacks Investment Research\nResearch and development (R&D) expenses (excluding stock-based compensation) came in at $16.4 million, up 8% from the year-ago quarter. The uptick can be attributed to start-up activities for the planned phase III study of Zilretta in shoulder osteoarthritis.\nSelling, general and administrative (SG&A) expenses (excluding stock-based compensation) of $63.8 million also increased 2% year over year, largely due to a rise in professional and legal fees.\nAs of Mar 31, 2024, Pacira had cash, cash equivalents and available-for-sale investments of $325.9 million compared with $281 million as of Dec 31, 2023.\n2024 Guidance Reaffirmed\nPacira reiterated its previously announced financial guidance for 2024. It expects total revenues in the band of $680-$705 million for the full year.\nThe company anticipates adjusted R&D expenses between $70 million and $80 million, while adjusted SG&A expenses are expected in the range of $245-$265 million.\nThe adjusted gross margin of the company is projected between 74% and 76% in 2024.\n\nPacira BioSciences, Inc. Price and EPS Surprise\n\nPacira BioSciences, Inc. price-eps-surprise | Pacira BioSciences, Inc. Quote\n\nRecent Updates\nAlong with the first-quarter earnings release, Pacira announced that it has entered into a share repurchase program that authorizes the company to purchase up to an aggregate of $150 million of its outstanding common stock.\nDuring the reported quarter, the FDA granted the Regenerative Medicine Advance Therapy designation to its novel gene therapy product candidate,PCRX-201 (enekinragene inzadenovec), which is currently being developed to treat osteoarthritis of the knee.\nZacks Rank and Stocks to Consider\nPacira currently carries a Zacks Rank #4 (Sell).\nSome better-ranked stocks from the drug/biotech industry are Ligand Pharmaceuticals LGND, ANI Pharmaceuticals ANIP and Annovis Bio ANVS. While LGND sports a Zacks Rank #1 (Strong Buy), ANIP & ANVS carry a Zacks Rank #2 (Buy) each, at present. You can see the complete list of today’s Zacks #1 Rank stocks here.\nIn the past 30 days, the Zacks Consensus Estimate for Ligand’s 2024 earnings per share has remained constant at $4.56. During the same time frame, the estimate for Ligand’s 2025 earnings per share has remained constant at $5.27. Year to date, shares of LGND have gained 2.5%.\nLigand beat estimates in each of the trailing four quarters, delivering an average surprise of 56.02%.\nIn the past 30 days, estimates for ANI Pharmaceuticals’ 2024 earnings per share have risen from $4.43 to $4.44. Meanwhile, during the same period, the estimate for ANI Pharmaceuticals’ 2025 earnings per share has remained constant at $5.04. Year to date, shares of ANIP have climbed 21%.\nANI Pharmaceuticals beat estimates in each of the last four quarters, delivering an average surprise of 109.06%.\nIn the past 30 days, the Zacks Consensus Estimate for Annovis’ 2024 loss per share has narrowed from $3.35 to $2.93. During the same period, the estimate for Annovis’ 2025 loss per share has widened from $2.82 to $2.83. Year to date, shares of ANVS have plunged 71.4%.\nANVS beat estimates in two of the trailing four quarters and missed the mark on the other two occasions, delivering an average negative surprise of 15.70%.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nLigand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report\nPacira BioSciences, Inc. (PCRX) : Free Stock Analysis Report\nANI Pharmaceuticals, Inc. (ANIP) : Free Stock Analysis Report\nAnnovis Bio, Inc. (ANVS) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2434711527"}