Pacira (PCRX) Posts Earnings In Q3, Revenues Lag Estimates
Zacks Investment Research | Nov 08, 2017 09:33PM ET
Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) reported third-quarter 2017 earnings of 11 cents per share (including the impact of stock-based compensation) comparing favorably with the Zacks Consensus Estimate of a loss of 4 cents. However, earnings were lower than 20 cents recorded a year ago.
Revenues declined 1.5% year over year to $67.3 million and missed the Zacks Consensus Estimate of $69 million. The downturn was due to the discontinuation of DepoCyt(e), and lower collaborative licensing and milestone revenues. However, Exparel sales were $66.8 million in the quarter, up 2.9% year over year. Sales of the drug were up despite fewer selling days and hurricanes in the Southern United States, a region which account for approximately 20% of the drug’s business.
So far this year, Pacira’s share price has increased 27% compared with the Original post
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.