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Pacira Q4 Earnings Top, Revenues Miss Despite Exparel Sales Growth
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Pacira BioSciences (PCRX - Free Report) reported fourth-quarter 2024 adjusted earnings of 91 cents per share, which beat the Zacks Consensus Estimate of 86 cents. The company had reported adjusted earnings of 89 cents per share in the year-ago quarter.
Total revenues amounted to $187.3 million, which increased 3% year over year. The reported figure, however, missed the Zacks Consensus Estimate by 0.03%.
PCRX’s Q4 Results in Detail
Pacira’s top line usually comprises product sales and royalty revenues. The company recognizes product revenues from the sales of its three marketed drugs — Exparel, Zilretta and iovera. However, PCRX did not recognize any royalty revenues in the fourth quarter.
Exparel’s net product sales were $147.7 million, which increased 3% from the year-ago quarter’s figure. The reported figure beat the Zacks Consensus Estimate of $145.3 million and our model estimate of $144.5 million. Revenue growth from Exparel sales was partially offset by a shift in vial mix and contracted discounts.
Exparel (bupivacaine liposome injectable suspension) is indicated in patients aged six years and older for single-dose infiltration to produce postsurgical local analgesia. It is also indicated for regional analgesia in adults via an interscalene brachial plexus nerve block, sciatic nerve block in the popliteal fossa and femoral nerve block in the adductor canal.
Zilretta’s net product sales came in at $33.1 million, up 15% year over year. Pacira completed the acquisition of Flexion Therapeutics in November 2021, following which the former began recognizing Zilretta sales. The reported figure surpassed the Zacks Consensus Estimate of $30.7 million as well as our model estimate of $30.2 million.
In the past three months, shares of Pacira have rallied 50.1% against the industry’s 2% decline.
Image Source: Zacks Investment Research
Net product sales of iovera were $6.5 million, up 7% from the year-ago quarter. The figure marginally beat the Zacks Consensus Estimate of $6.4 million as well as our model estimate of $6 million.
Pacira did not generate any revenues from the sales of bupivacaine liposome injectable suspension to third-party licenses in the fourth quarter.
Research and development (R&D) expenses (excluding stock-based compensation) came in at $22 million, up 33% from the year-ago quarter due to higher product development and clinical study costs in the reported quarter.
Selling, general and administrative (SG&A) expenses (excluding stock-based compensation and Chief Executive Officer transition costs) of $70.6 million increased 23% year over year, largely due to a rise in investments made in commercial, medical and market access organizations as well as for readiness of the NOPAIN program.
As of Dec. 31, 2024, Pacira had cash, cash equivalents and available-for-sale investments of $484.6 million compared with $453.8 million as of Sept. 30, 2024.
PCRX’s Full-Year Results
In 2024, Pacira recorded total revenues of $701 million, up 4% over the figure recorded in 2023, but missed the Zacks Consensus Estimate of $701.9 million.
The company recorded adjusted earnings of $3.20 per share in 2024, which matched the Zacks Consensus Estimate. In 2023, PCRX recorded adjusted earnings of 2.81 per share.
PCRX’s 2025 Financial Guidance
In 2025, Pacira expects its total revenues in the range of $725-$765 million. The management projects the adjusted gross margin for the year to be between 76% and 78%.
Adjusted R&D expenses are anticipated to be between $90 million and $105 million, while adjusted SG&A expenses are expected to be in the band of $290-$320 million in 2025.
In November 2024, PCRX announced new phase I data showing that PCRX-201 improved knee pain, stiffness, and function for at least two years with a well-tolerated safety profile. The findings were presented at a medical conference.
Pacira BioSciences, Inc. Price, Consensus and EPS Surprise
In the past 30 days, Gilead Sciences’ earnings estimates for 2025 have improved from $7.56 to $7.85 per share. During the same timeframe, the earnings per share for 2026 have improved from $7.82 to $8.17. In the past three months, shares of Gilead Sciences have gained 21%.
GILD’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.47%.
In the past 30 days, estimates for BioMarin Pharmaceutical’s 2025 earnings per share have increased from $4.01 to $4.19. Estimates for 2026 earnings per share have decreased from $5.21 to $5.20 during the same timeframe. In the past three months, BioMarin Pharmaceutical shares have gained 4.7%.
BMRN’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 32.36%.
In the past 30 days, the estimate for Amicus Therapeutics’ 2025 earnings per share has remained constant at 43 cents. The estimate for 2026 earnings per share has deteriorated from 72 cents to 71 cents. In the past three months, shares of Amicus Therapeutics have lost 7.9%.
FOLD’s earnings beat estimates in three of the trailing four quarters and missed once, delivering an average surprise of 45.42%.
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Pacira Q4 Earnings Top, Revenues Miss Despite Exparel Sales Growth
Pacira BioSciences (PCRX - Free Report) reported fourth-quarter 2024 adjusted earnings of 91 cents per share, which beat the Zacks Consensus Estimate of 86 cents. The company had reported adjusted earnings of 89 cents per share in the year-ago quarter.
See the Zacks Earnings Calendar to stay ahead of market-making news.
Total revenues amounted to $187.3 million, which increased 3% year over year. The reported figure, however, missed the Zacks Consensus Estimate by 0.03%.
PCRX’s Q4 Results in Detail
Pacira’s top line usually comprises product sales and royalty revenues. The company recognizes product revenues from the sales of its three marketed drugs — Exparel, Zilretta and iovera. However, PCRX did not recognize any royalty revenues in the fourth quarter.
Exparel’s net product sales were $147.7 million, which increased 3% from the year-ago quarter’s figure. The reported figure beat the Zacks Consensus Estimate of $145.3 million and our model estimate of $144.5 million. Revenue growth from Exparel sales was partially offset by a shift in vial mix and contracted discounts.
Exparel (bupivacaine liposome injectable suspension) is indicated in patients aged six years and older for single-dose infiltration to produce postsurgical local analgesia. It is also indicated for regional analgesia in adults via an interscalene brachial plexus nerve block, sciatic nerve block in the popliteal fossa and femoral nerve block in the adductor canal.
Zilretta’s net product sales came in at $33.1 million, up 15% year over year. Pacira completed the acquisition of Flexion Therapeutics in November 2021, following which the former began recognizing Zilretta sales. The reported figure surpassed the Zacks Consensus Estimate of $30.7 million as well as our model estimate of $30.2 million.
In the past three months, shares of Pacira have rallied 50.1% against the industry’s 2% decline.
Image Source: Zacks Investment Research
Net product sales of iovera were $6.5 million, up 7% from the year-ago quarter. The figure marginally beat the Zacks Consensus Estimate of $6.4 million as well as our model estimate of $6 million.
Pacira did not generate any revenues from the sales of bupivacaine liposome injectable suspension to third-party licenses in the fourth quarter.
Research and development (R&D) expenses (excluding stock-based compensation) came in at $22 million, up 33% from the year-ago quarter due to higher product development and clinical study costs in the reported quarter.
Selling, general and administrative (SG&A) expenses (excluding stock-based compensation and Chief Executive Officer transition costs) of $70.6 million increased 23% year over year, largely due to a rise in investments made in commercial, medical and market access organizations as well as for readiness of the NOPAIN program.
As of Dec. 31, 2024, Pacira had cash, cash equivalents and available-for-sale investments of $484.6 million compared with $453.8 million as of Sept. 30, 2024.
PCRX’s Full-Year Results
In 2024, Pacira recorded total revenues of $701 million, up 4% over the figure recorded in 2023, but missed the Zacks Consensus Estimate of $701.9 million.
The company recorded adjusted earnings of $3.20 per share in 2024, which matched the Zacks Consensus Estimate. In 2023, PCRX recorded adjusted earnings of 2.81 per share.
PCRX’s 2025 Financial Guidance
In 2025, Pacira expects its total revenues in the range of $725-$765 million. The management projects the adjusted gross margin for the year to be between 76% and 78%.
Adjusted R&D expenses are anticipated to be between $90 million and $105 million, while adjusted SG&A expenses are expected to be in the band of $290-$320 million in 2025.
PCRX’s Recent Updates
During the fourth quarter, the FDA cleared Pacira’s application to market a new Smart Tipfor the iovera system designed to access the medial branch nerves to manage chronic low back pain. Additionally, the company also procured the ‘940 patent from the U.S. Patent and Trademark Office that protects the chemical composition of Exparel, ensuring protection against generics in the market through 2044.
In November 2024, PCRX announced new phase I data showing that PCRX-201 improved knee pain, stiffness, and function for at least two years with a well-tolerated safety profile. The findings were presented at a medical conference.
Pacira BioSciences, Inc. Price, Consensus and EPS Surprise
Pacira BioSciences, Inc. price-consensus-eps-surprise-chart | Pacira BioSciences, Inc. Quote
PCRX’s Zacks Rank and Other Stocks to Consider
Pacira currently sports a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks from the sector are Gilead Sciences (GILD - Free Report) , BioMarin Pharmaceutical (BMRN - Free Report) and Amicus Therapeutics (FOLD - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 30 days, Gilead Sciences’ earnings estimates for 2025 have improved from $7.56 to $7.85 per share. During the same timeframe, the earnings per share for 2026 have improved from $7.82 to $8.17. In the past three months, shares of Gilead Sciences have gained 21%.
GILD’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.47%.
In the past 30 days, estimates for BioMarin Pharmaceutical’s 2025 earnings per share have increased from $4.01 to $4.19. Estimates for 2026 earnings per share have decreased from $5.21 to $5.20 during the same timeframe. In the past three months, BioMarin Pharmaceutical shares have gained 4.7%.
BMRN’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 32.36%.
In the past 30 days, the estimate for Amicus Therapeutics’ 2025 earnings per share has remained constant at 43 cents. The estimate for 2026 earnings per share has deteriorated from 72 cents to 71 cents. In the past three months, shares of Amicus Therapeutics have lost 7.9%.
FOLD’s earnings beat estimates in three of the trailing four quarters and missed once, delivering an average surprise of 45.42%.