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Here's Why You Should Add Pacira (PCRX) Stock to Your Portfolio
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Pacira Biosciences (PCRX - Free Report) is a Parsippany, NJ-based, specialty pharmaceutical company focused on the development, commercialization and manufacture of proprietary pharmaceutical products primarily for use in hospitals and ambulatory surgery centers. These products are developed using the company's proprietary DepoFoam drug delivery technology. Exparel, the company’s flagship product, was launched in 2012. Exparel is a liposome injection of bupivacaine, which is indicated for single-dose administration into the surgical site to produce postsurgical analgesia.
In the past year, shares of Pacira have plunged 34.1% compared with the industry’s 3.1% fall. Despite the poor price performance, Pacira carries a Zacks Rank #2 (Buy) at present.
Image Source: Zacks Investment Research
Let’s delve deeper to discuss four reasons why adding Pacira stock to your portfolio may prove beneficial in 2023.
Exparel, the Growth Driver: Demand for Exparel has been strong since its launch in April 2012, driven by growth within existing accounts, along with increasing acceptance by major hospitals and orthopedic centers, as it continues to be used in orthopedic procedures. In November 2020, the European Commission granted marketing authorization to Exparel as a brachial plexus block or femora nerve block for the treatment of postoperative pain and field block for the treatment of somatic post-operative pain from small- to medium-sized surgical wounds in adults. Exparel is displaying a steady progress in its targeted European launch.
Exparel generated sales worth $536.9 million in 2022, up 6% year over year.
Label Expansion of Exparel Holds Promise: In March 2021, the FDA approved the supplemental new drug application (sNDA) seeking approval of Exparel for children aged six years and above. There are currently no approved alternatives to opioids for managing severe post-surgical pain in pediatric patients, hence the approval should drive Exparel sales in future quarters. Exparel’s marketing authorization application for the expanded indication was approved by the European Commission for pediatric patients aged six years and above in November 2022.
Furthermore, In March 2023, the FDA accepted the company’s sNDA for label expansion of Exparel to include single-dose sciatic nerve block in the popliteal fossa and femoral nerve block in the adductor canal. The regulatory body has set a target action date of Nov 13, 2023.
A possible nod from the FDA will expand the drug’s eligible patient population and is likely to boost the drug’s sales and drive growth for the company.
Product Acquisitions Through Strategic Collaborations, a Positive: In April 2019, Pacira acquired the privately held company, MyoScience, Inc., following which it added the latter’s iovera system to its portfolio, which is highly complementary to Exparel as a non-opioid therapy. In November 2021, Pacira completed the previously announced acquisition of Flexion Therapeutics for $8.50 per share in cash plus one non-tradable contingent value right worth up to $8 per share in cash.
With this acquisition, Pacira strengthened its position in the non-opioid pain management market. Flexion’s only marketed drug, Zilretta, is approved as an extended-release intra-articular therapy providing relief to osteoarthritis patients with knee pain. Zilretta is already generating incremental sales and adding to Pacira’s top line.
Expansion Into Animal Health Market: Pacira is looking to expand Exparel's label in the animal health market as well. In 2012, the company signed a licensing agreement with Aratana to develop and commercialize Exparel for animal health indications. Expansion into the animal health market will diversify Exparel's franchise and boost its commercial potential.
However, Pacira’s heavy dependence on Exparel as a growth driver remains a concern. Despite these concerns, the label-expanding studies on Exparel along with Zilretta providing incremental revenues are expected to drive growth for the company in future quarters.
In the past 90 days, the Zacks Consensus Estimate for Alaunos Therapeutics’ 2023 loss per share has narrowed from 20 cents to 16 cents. In the past year, shares of Alaunos have risen by 13.9%.
TCRT beat estimates in each of the trailing four reported quarters, delivering an average earnings surprise of 44.20%.
In the past 90 days, the Zacks Consensus Estimate for ImmunoGen’s 2023 loss per share has narrowed from 91 cents to 55 cents. In the past year, shares of ImmunoGen have rallied by 258.2%.
IMGN beat estimates in two of the trailing four quarters, missing the mark on the other two occasions, delivering an average earnings surprise of 7.09%.
In the past 90 days, the Zacks Consensus Estimate for Better Therapeutics’ 2023 loss per share has narrowed from $3.54 to $3.23. In the past year, shares of Better Therapeutics have decreased by 49.6%.
BTTX beat estimates in each of the trailing three quarters showing consensus estimates and delivering an average earnings surprise of 14.94%.
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Here's Why You Should Add Pacira (PCRX) Stock to Your Portfolio
Pacira Biosciences (PCRX - Free Report) is a Parsippany, NJ-based, specialty pharmaceutical company focused on the development, commercialization and manufacture of proprietary pharmaceutical products primarily for use in hospitals and ambulatory surgery centers. These products are developed using the company's proprietary DepoFoam drug delivery technology. Exparel, the company’s flagship product, was launched in 2012. Exparel is a liposome injection of bupivacaine, which is indicated for single-dose administration into the surgical site to produce postsurgical analgesia.
In the past year, shares of Pacira have plunged 34.1% compared with the industry’s 3.1% fall. Despite the poor price performance, Pacira carries a Zacks Rank #2 (Buy) at present.
Image Source: Zacks Investment Research
Let’s delve deeper to discuss four reasons why adding Pacira stock to your portfolio may prove beneficial in 2023.
Exparel, the Growth Driver: Demand for Exparel has been strong since its launch in April 2012, driven by growth within existing accounts, along with increasing acceptance by major hospitals and orthopedic centers, as it continues to be used in orthopedic procedures. In November 2020, the European Commission granted marketing authorization to Exparel as a brachial plexus block or femora nerve block for the treatment of postoperative pain and field block for the treatment of somatic post-operative pain from small- to medium-sized surgical wounds in adults. Exparel is displaying a steady progress in its targeted European launch.
Exparel generated sales worth $536.9 million in 2022, up 6% year over year.
Label Expansion of Exparel Holds Promise: In March 2021, the FDA approved the supplemental new drug application (sNDA) seeking approval of Exparel for children aged six years and above. There are currently no approved alternatives to opioids for managing severe post-surgical pain in pediatric patients, hence the approval should drive Exparel sales in future quarters. Exparel’s marketing authorization application for the expanded indication was approved by the European Commission for pediatric patients aged six years and above in November 2022.
Furthermore, In March 2023, the FDA accepted the company’s sNDA for label expansion of Exparel to include single-dose sciatic nerve block in the popliteal fossa and femoral nerve block in the adductor canal. The regulatory body has set a target action date of Nov 13, 2023.
A possible nod from the FDA will expand the drug’s eligible patient population and is likely to boost the drug’s sales and drive growth for the company.
Product Acquisitions Through Strategic Collaborations, a Positive: In April 2019, Pacira acquired the privately held company, MyoScience, Inc., following which it added the latter’s iovera system to its portfolio, which is highly complementary to Exparel as a non-opioid therapy. In November 2021, Pacira completed the previously announced acquisition of Flexion Therapeutics for $8.50 per share in cash plus one non-tradable contingent value right worth up to $8 per share in cash.
With this acquisition, Pacira strengthened its position in the non-opioid pain management market. Flexion’s only marketed drug, Zilretta, is approved as an extended-release intra-articular therapy providing relief to osteoarthritis patients with knee pain. Zilretta is already generating incremental sales and adding to Pacira’s top line.
Expansion Into Animal Health Market: Pacira is looking to expand Exparel's label in the animal health market as well. In 2012, the company signed a licensing agreement with Aratana to develop and commercialize Exparel for animal health indications. Expansion into the animal health market will diversify Exparel's franchise and boost its commercial potential.
However, Pacira’s heavy dependence on Exparel as a growth driver remains a concern. Despite these concerns, the label-expanding studies on Exparel along with Zilretta providing incremental revenues are expected to drive growth for the company in future quarters.
Pacira BioSciences, Inc. Price and EPS Surprise
Pacira BioSciences, Inc. price-eps-surprise | Pacira BioSciences, Inc. Quote
Other Stocks to Consider
Some other stocks worth mentioning from the same industry are Alaunos Therapeutics (TCRT - Free Report) , Immunogen and Better Therapeutics (BTTX - Free Report) , all carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past 90 days, the Zacks Consensus Estimate for Alaunos Therapeutics’ 2023 loss per share has narrowed from 20 cents to 16 cents. In the past year, shares of Alaunos have risen by 13.9%.
TCRT beat estimates in each of the trailing four reported quarters, delivering an average earnings surprise of 44.20%.
In the past 90 days, the Zacks Consensus Estimate for ImmunoGen’s 2023 loss per share has narrowed from 91 cents to 55 cents. In the past year, shares of ImmunoGen have rallied by 258.2%.
IMGN beat estimates in two of the trailing four quarters, missing the mark on the other two occasions, delivering an average earnings surprise of 7.09%.
In the past 90 days, the Zacks Consensus Estimate for Better Therapeutics’ 2023 loss per share has narrowed from $3.54 to $3.23. In the past year, shares of Better Therapeutics have decreased by 49.6%.
BTTX beat estimates in each of the trailing three quarters showing consensus estimates and delivering an average earnings surprise of 14.94%.