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Pacira (PCRX) Down 3.6% Since Last Earnings Report: Can It Rebound?

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Zacks Equity Research
·2 min read
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A month has gone by since the last earnings report for Pacira (PCRX). Shares have lost about 3.6% in that time frame, underperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is Pacira due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.

Pacira's Q4 Earnings Surpass Estimates, Revenues Miss

Pacira reported fourth-quarter 2020 earnings of 87 cents per share, beating the Zacks Consensus Estimate of 82 cents and also increasing from the year-ago earnings of 56 cents.

Total revenues increased 7% to $131 million from the year-earlier figure of $122.4 million in the fourth quarter of 2020. However, the top line missed the Zacks Consensus Estimate of $132 million.

Quarter in Detail

Pacira’s top line mainly comprises of product revenues, other product sales and royalty revenues.

Exparel net product sales were $125.3 million, up 7% from $116.9 million generated in the year-ago quarter. Sale of the drug also grew 10.2% on a sequential basis.

Notably, iovera system generated sales worth $2.4 million in the fourth quarter of 2020, reflecting a sequential decrease of 11.1%.

Royalty revenues came in at $1.2 million in the reported quarter, up 100% year over year.

Research and development (R&D) expenses (excluding stock-based compensation) fell approximately 22.9% to $14.1 million.

Selling, general and administrative (SG&A) expenses (excluding stock-based compensation) also decreased around 6.1% year over year to $44.7 million in the reported quarter.

2021 Outlook

Owing to the adverse effects of the COVID-19 pandemic negatively impacting the sale, Pacira is not providing the guidance for 2021.

How Have Estimates Been Moving Since Then?

It turns out, estimates review flatlined during the past month.


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