Pacira Pharmaceuticals (PCRX)
NASDAQ:PCRX
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Pacira Pharmaceuticals
(NASDAQ:PCRX)
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Rating:69Neutral
Price Target:
$28.00
▲(13.27% Upside)
Action:DowngradedDate:05/01/26
The score is driven primarily by improved financial resilience (lower leverage and steady cash generation) and constructive technical trend. These positives are partially offset by expensive valuation (very high P/E) and profitability still being thin/volatile, while the latest earnings call added support through reiterated guidance, solid product growth, and buybacks despite near-term margin and spending pressures.
Positive Factors
Balance sheet strength
Pacira’s sharply reduced leverage and stronger debt-to-equity profile materially increase financial flexibility. A low-debt capital structure supports R&D funding, commercialization investments and share repurchases while lowering interest burden, improving resilience through policy or product-cycle swings.
Negative Factors
Volatile profitability
Earnings volatility and currently thin operating and net margins limit reliable profitability and return metrics. This inconsistent earnings power constrains reinvestment capacity and raises sensitivity to reimbursement, mix shifts or temporary volume declines, making future cash flow less predictable.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet strength
Pacira’s sharply reduced leverage and stronger debt-to-equity profile materially increase financial flexibility. A low-debt capital structure supports R&D funding, commercialization investments and share repurchases while lowering interest burden, improving resilience through policy or product-cycle swings.
Read all positive factors
Pacira Pharmaceuticals (PCRX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$910.60M
Dividend YieldN/A
Average Volume (3M)620.19K
Price to Earnings (P/E)78.4
Beta (1Y)0.81
Revenue Growth4.57%
EPS GrowthN/A
CountryUS
Employees788
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)0.12
Shares Outstanding39,334,984
10 Day Avg. Volume434,058
30 Day Avg. Volume620,187
Financial Highlights & Ratios
PEG Ratio-1.53
Price to Book (P/B)1.66
Price to Sales (P/S)1.59
P/FCF Ratio8.44
Enterprise Value/Market Cap1.29
Enterprise Value/Revenue1.60
Enterprise Value/Gross Profit2.07
Enterprise Value/Ebitda10.74
Forecast
1Y Price Target
$28.40Price Target Upside14.89% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)2.62
Revenue Forecast (FY)$759.71M
Pacira Pharmaceuticals Business Overview & Revenue Model
Company Description
Pacira BioSciences, Inc. provides non-opioid pain management and regenerative health solutions for healthcare practitioners and their patients in the United States. The company offers EXPAREL, a bupivacaine liposome injectable suspension; ZILRETTA...
How the Company Makes Money
Pacira primarily makes money by selling its marketed products to healthcare providers and institutions through U.S.-focused commercialization. The company’s largest revenue stream has historically been product sales of EXPAREL, which is purchased ...
Pacira Pharmaceuticals Earnings Call Summary
Earnings Call Date:Apr 30, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 04, 2026
Earnings Call Sentiment Positive
The call presented a predominately positive picture: the company reported solid top-line momentum across core products (EXPAREL, ZILRETTA, ioverao) with meaningful YoY growth, strengthened IP protection, expanded reimbursement coverage (110M+ covered lives), encouraging pipeline progress with near-term readouts, and healthy adjusted EBITDA and buyback activity. Near-term challenges include revenue mix impacts from a new GPO and winter storms, modest margin compression and elevated SG&A/R&D spending tied to strategic initiatives, and policy timing risk around NOPAIN’s scheduled 2027 expiration. On balance the positives — sustainable product growth, strengthened commercial and IP positions, active pipeline catalysts, and disciplined capital returns — outweigh the lowlights.Positive Updates
EXPAREL Net Sales and Volume Growth
EXPAREL net sales of $143.3M in Q1 2026 versus $136.5M in Q1 2025; reported volume growth of ~7% year-over-year, with continued momentum into 2026 driven by expanded reimbursement, a new product-specific J-code, non-opioid stewardship adoption, and protocol uptake.
Negative Updates
Revenue Mix and GPO Discounting Impact
EXPAREL Q1 revenue growth was partially offset despite volume growth due to a shift in vial mix and discounting from a third GPO that went live last year; company expects a similar delta between volume and revenue in Q2 and a narrowing midyear as the anniversary of that GPO passes.
Read all updates
Q1-2026 Updates
Positive
Negative
EXPAREL Net Sales and Volume Growth
EXPAREL net sales of $143.3M in Q1 2026 versus $136.5M in Q1 2025; reported volume growth of ~7% year-over-year, with continued momentum into 2026 driven by expanded reimbursement, a new product-specific J-code, non-opioid stewardship adoption, and protocol uptake.
Read all positive updates
Company Guidance
Pacira reiterated full‑year 2026 guidance of total revenues $745–770 million and EXPAREL net product sales of $600–620 million (plus an expected $7 million from a veterinary licensing agreement), with non‑GAAP gross margins of 77–79%, non‑GAAP R&D $105–115 million, non‑GAAP SG&A $320–340 million, stock‑based compensation $54–62 million and depreciation of about $30 million. The company said Q2 R&D should step up to the low‑$30 million range before returning closer to Q1 levels (~$25.4M) in Q3–Q4; Q1 metrics included EXPAREL net sales of $143.3M (≈7% volume growth), ZILRETTA $26.8M (+15%), ioverao $6.2M (+21%), consolidated non‑GAAP gross margin of 80% and adjusted EBITDA of ≈$40.2M. Pacira also executed $50M of share repurchases in Q1 (retiring ~2.2M shares), reduced outstanding shares to ~39.3M, and has $100M remaining on its repurchase authorization; it expects near‑term margin tailwinds from sale of lower‑cost EXPAREL inventory with Q4 margins modestly below full‑year guidance due to higher‑cost inventory and shutdown costs.Pacira Pharmaceuticals Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
78
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 734.86M | 726.41M | 700.97M | 674.98M | 666.82M | 541.53M |
| Gross Profit | 568.69M | 576.66M | 530.54M | 490.31M | 467.53M | 401.28M |
| EBITDA | 109.65M | 122.50M | 29.12M | 154.59M | 140.38M | 113.95M |
| Net Income | 5.14M | 7.03M | -99.56M | 41.95M | 15.91M | 41.98M |
Balance Sheet | ||||||
| Total Assets | 1.21B | 1.26B | 1.55B | 1.57B | 1.68B | 2.08B |
| Cash, Cash Equivalents and Short-Term Investments | 202.18M | 238.42M | 484.62M | 278.58M | 288.65M | 656.41M |
| Total Debt | 411.18M | 454.38M | 638.85M | 586.04M | 763.39M | 1.13B |
| Total Liabilities | 554.64M | 571.81M | 775.17M | 704.26M | 906.19M | 1.34B |
| Stockholders Equity | 653.89M | 693.11M | 778.35M | 870.13M | 775.01M | 730.41M |
Cash Flow | ||||||
| Free Cash Flow | 132.71M | 136.66M | 178.75M | 139.49M | 115.20M | 79.85M |
| Operating Cash Flow | 142.22M | 151.99M | 189.39M | 154.65M | 145.27M | 125.72M |
| Investing Cash Flow | 144.55M | 99.48M | -83.28M | 77.54M | -225.19M | -20.79M |
| Financing Cash Flow | -426.03M | -369.63M | 17.36M | -183.03M | -401.53M | 380.69M |
Pacira Pharmaceuticals Technical Analysis
Positive
24.72
Price Trends
22.69
Positive
23.14
Positive
23.54
Positive
Market Momentum
0.40
Negative
64.00
Neutral
77.97
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PCRX, the sentiment is Positive. The current price of 24.72 is above the 20-day moving average (MA) of 23.22, above the 50-day MA of 22.69, and above the 200-day MA of 23.54, indicating a bullish trend. The MACD of 0.40 indicates Negative momentum. The RSI at 64.00 is Neutral, neither overbought nor oversold. The STOCH value of 77.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PCRX.
Pacira Pharmaceuticals Risk Analysis
Pacira Pharmaceuticals disclosed 71 risk factors in its most recent earnings report. Pacira Pharmaceuticals reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Pacira Pharmaceuticals Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $1.86B | 13.63 | 17.32% | ― | 37.03% | ― | |
71 Outperform | $1.23B | 18.30 | 26.74% | ― | 19.88% | 73.61% | |
69 Neutral | $910.60M | 78.40 | 0.73% | ― | 4.57% | ― | |
67 Neutral | $2.99B | -324.88 | -2.73% | ― | 16.29% | -145.12% | |
64 Neutral | $837.77M | 34.57 | 12.76% | ― | -1.39% | -41.70% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
PCRX
Pacira Pharmaceuticals
23.15
-1.94
-7.73%
SUPN
Supernus Pharmaceuticals
51.53
19.38
60.28%
ANIP
ANI Pharmaceuticals
81.86
19.56
31.40%
AMPH
Amphastar Pharmaceuticals
19.00
-5.34
-21.94%
COLL
Collegium Pharmaceutical
37.80
8.24
27.88%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.