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How Has PCRX Performed 30 Days Post Earnings

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  • PCRX

It has been about a month since the last earnings report for Pacira (PCRX). Shares were flat in that time frame, underperforming the S&P 500.

But investors have to be wondering, will the recent trend continue leading up to its next earnings release, or is Pacira due for a pullback? 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 catalysts.

Pacira's Q1 Earnings Lag Estimates, Revenues Beat

Pacira reported first-quarter 2021 earnings of 53 cents per share, missing the Zacks Consensus Estimate of 59 cents. The bottom line is flat with the year-ago earnings.

Total revenues increased 12.6% to $119 million in the first quarter of 2021 from the year-earlier figure of $105.7 million. The top line surpassed the Zacks Consensus Estimate of $117.2 million.

Quarter in Detail

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

Exparel net product sales were $114.7 million, up 13.2% from $101.3 million generated in the year-ago quarter. However, sales of the drug declined 8.4% on a sequential basis.

Exparel/bupivacaine liposome injectable suspension sales came in at $0.8 million compared with $1.2 million in the year-ago quarter.

Meanwhile, iovera system generated sales worth $3.3 million in the first quarter of 2021, reflecting a sequential increase of 37.5%.

Royalty revenues came in at $0.3 million in the reported quarter, down 66.7% year over year.

Research and development (R&D) expenses (excluding stock-based compensation) rose approximately 1% to $14.7 million.

Selling, general and administrative (SG&A) expenses (excluding stock-based compensation) also increased around 6.8% year over year to $40.9 million in the reported quarter.

2021 Outlook

Per the company, due to the COVID-19 pandemic still negatively impacting sales, it is not providing the guidance for 2021.

How Have Estimates Been Moving Since Then?

In the past month, investors have witnessed a downward trend in estimates revision. The consensus estimate has shifted -6.64% due to these changes.

VGM Scores

At this time, Pacira has an average Growth Score of C, however its Momentum Score is doing a lot better with an A. Charting a somewhat similar path, the stock was allocated a grade of B on the value side, putting it in the second quintile for this investment strategy.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise Pacira has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.


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