Why Pacira BioSciences Shares Are Trading Lower Today

Pacira BioSciences Inc PCRX reported Q1 sales of $160.3 million compared to $158.0 million a year ago and the consensus of $158.84 million.

The sales fell almost 7% sequentially from $172 million in Q4 FY22.

Exparel sales reached $130.4 million, slightly above the $129.2 million reported a year ago and down from $138.0 million in Q4.

Q1 average daily volume growth of 6% was offset by a lower net selling price primarily due to the implementation of 340B Drug Pricing and other contracted relationships.

Zilretta sales reached $24.3 million versus $23.6 million in Q1 FY22 and $28.0 million in Q4.

The company reported an adjusted EPS of $0.53, missing the consensus of $0.62 and below $0.80 in Q4 FY22.

EBITDA was $41.9 million in the first quarter of 2023, compared to $53.8 million a year ago, below $58.8 million in Q4 FY22.

Guidance: Pacira reiterated its FY23, with Exparel sales of $570-$580 million, Zilretta sales of $115-$125 million, and iovera° sales of $17-$20 million.

Price Action: PCRX shares are down 5.62% at $43.84 on the last check Wednesday.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: BiotechEarningsNewsGuidanceHealth CareSmall CapMoversGeneralwhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!