Pacira BioSciences (PCRX)
Market Price (8/10/2026): $24.59 | Market Cap: $970.4 MilSector: Health Care | Industry: Pharmaceuticals
Pacira BioSciences (PCRX)
Market Price (8/10/2026): $24.59Market Cap: $970.4 MilSector: Health CareIndustry: Pharmaceuticals
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 25%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 24% Attractive yieldFCF Yield is 18% Low stock price volatilityVol 12M is 37% Megatrend and thematic driversMegatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, and Geriatric Care. | Weak multi-year price returns2Y Excs Rtn is -27%, 3Y Excs Rtn is -104% Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 18% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 32x, P/EPrice/Earnings or Price/(Net Income) is 67x Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.0% Significant short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 15.78 Key risksPCRX key risks include [1] an overwhelming revenue dependence on its flagship products, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 25%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 24% |
| Attractive yieldFCF Yield is 18% |
| Low stock price volatilityVol 12M is 37% |
| Megatrend and thematic driversMegatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, and Geriatric Care. |
| Weak multi-year price returns2Y Excs Rtn is -27%, 3Y Excs Rtn is -104% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 18% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 32x, P/EPrice/Earnings or Price/(Net Income) is 67x |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.0% |
| Significant short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 15.78 |
| Key risksPCRX key risks include [1] an overwhelming revenue dependence on its flagship products, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Pacira BioSciences (PCRX) stock has remained largely at the same level since 4/30/2026 because of the following key factors:
1. Mixed Fiscal Q2 2026 Financial Performance.
Pacira BioSciences reported a mixed financial performance for fiscal Q2 2026 (ended June 30, 2026), which likely contributed to its stable stock price. The company exceeded analyst expectations with revenues of $192.4 million, a 6% increase year-over-year, and adjusted earnings per share (EPS) of $0.73, surpassing consensus estimates of $0.64-$0.65. However, this growth was accompanied by a roughly 10% decline in adjusted EBITDA to $48.7 million and an 18% decrease in non-GAAP net income, primarily due to a 9% rise in operating expenses to $188.1 million. This combination of revenue beats alongside weakened operating profitability likely created offsetting forces on investor sentiment, contributing to the stock maintaining a relatively consistent level.
2. Strategic Divestiture and Revised Financial Guidance.
The divestiture of the iovera° business played a significant role in shaping investor perception during this period. On July 31, 2026, Pacira completed the sale of its iovera° business to Zimmer Biomet for an upfront payment of $70 million and potential future milestone payments of up to an additional $70 million. This strategic move aimed to sharpen Pacira's focus on its core innovation-driven biopharmaceutical segments and enhance liquidity. Concurrently, Pacira lowered its full-year 2026 total revenue guidance to $735-$760 million from a previous range of $745-$770 million, reflecting the exclusion of iovera° sales. While the divestiture provided cash and a clearer strategic direction, the revised, albeit reduced, revenue outlook likely tempered any significant upward movement in the stock price.
Show more
Pacira BioSciences (PCRX) stock has remained largely at the same level since 4/30/2026 because of the following key factors:
1. Mixed Fiscal Q2 2026 Financial Performance.
Pacira BioSciences reported a mixed financial performance for fiscal Q2 2026 (ended June 30, 2026), which likely contributed to its stable stock price. The company exceeded analyst expectations with revenues of $192.4 million, a 6% increase year-over-year, and adjusted earnings per share (EPS) of $0.73, surpassing consensus estimates of $0.64-$0.65. However, this growth was accompanied by a roughly 10% decline in adjusted EBITDA to $48.7 million and an 18% decrease in non-GAAP net income, primarily due to a 9% rise in operating expenses to $188.1 million. This combination of revenue beats alongside weakened operating profitability likely created offsetting forces on investor sentiment, contributing to the stock maintaining a relatively consistent level.
2. Strategic Divestiture and Revised Financial Guidance.
The divestiture of the iovera° business played a significant role in shaping investor perception during this period. On July 31, 2026, Pacira completed the sale of its iovera° business to Zimmer Biomet for an upfront payment of $70 million and potential future milestone payments of up to an additional $70 million. This strategic move aimed to sharpen Pacira's focus on its core innovation-driven biopharmaceutical segments and enhance liquidity. Concurrently, Pacira lowered its full-year 2026 total revenue guidance to $735-$760 million from a previous range of $745-$770 million, reflecting the exclusion of iovera° sales. While the divestiture provided cash and a clearer strategic direction, the revised, albeit reduced, revenue outlook likely tempered any significant upward movement in the stock price.
3. Progress in Key Product Commercialization and Pipeline Development.
Positive developments in Pacira's commercial portfolio and pipeline provided a foundational support for the stock. EXPAREL net product sales increased 3% to $147.8 million in fiscal Q2 2026, with a 4% volume growth. Notably, UnitedHealthcare expanded separate reimbursement for EXPAREL in July 2026, increasing covered lives to over 150 million, moving towards a year-end target of 160 million. Furthermore, the company advanced its PCRX-201 gene therapy for knee osteoarthritis, successfully transitioning to a scalable commercial manufacturing process in July 2026 and expecting top-line data from Part A of its Phase 2 ASCEND study by the end of 2026. These advancements and expanding market access likely mitigated downward pressure, helping the stock remain largely stable.
4. Broader Macroeconomic Conditions and Mixed Analyst Sentiment.
The overall market environment and varied analyst perspectives contributed to Pacira's stock trading within a narrow range. The biopharmaceutical sector continued to face macroeconomic uncertainties, including evolving interest rate expectations, which can particularly impact capital-intensive biotech companies. Investor sentiment in the sector, while generally constructive, remained selective. Analyst ratings for PCRX during this period were mixed, reflecting a lack of strong consensus on its future direction. While some analysts reiterated "Buy" ratings and raised price targets (e.g., Needham to $33 and HC Wainwright to $38), others maintained "Sector Perform" or "Hold" ratings with lower targets (e.g., RBC Capital at $24), leading to an average "Hold" consensus among analysts. This mixed external outlook prevented a sustained upward or downward trend for the stock.
Show less
Stock Movement Drivers
Fundamental Drivers
The -1.8% change in PCRX stock from 4/30/2026 to 8/9/2026 was primarily driven by a -66.4% change in the company's P/E Multiple.| (LTM values as of) | 4302026 | 8092026 | Change |
|---|---|---|---|
| Stock Price ($) | 25.49 | 25.02 | -1.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 735 | 746 | 1.5% |
| Net Income Margin (%) | 0.7% | 2.0% | 180.6% |
| P/E Multiple | 200.7 | 67.5 | -66.4% |
| Shares Outstanding (Mil) | 40 | 39 | 2.5% |
| Cumulative Contribution | -1.8% |
Market Drivers
4/30/2026 to 8/9/2026| Return | Correlation | |
|---|---|---|
| PCRX | -1.8% | |
| Market (SPY) | 7.6% | -0.1% |
| Sector (XLV) | 13.5% | 24.7% |
Fundamental Drivers
The 21.8% change in PCRX stock from 1/31/2026 to 8/9/2026 was primarily driven by a 59.9% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 8092026 | Change |
|---|---|---|---|
| Stock Price ($) | 20.54 | 25.02 | 21.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 717 | 746 | 4.1% |
| Net Income Margin (%) | 3.0% | 2.0% | -34.4% |
| P/E Multiple | 42.2 | 67.5 | 59.9% |
| Shares Outstanding (Mil) | 44 | 39 | 11.6% |
| Cumulative Contribution | 21.8% |
Market Drivers
1/31/2026 to 8/9/2026| Return | Correlation | |
|---|---|---|
| PCRX | 21.8% | |
| Market (SPY) | 12.1% | 10.3% |
| Sector (XLV) | 7.5% | 20.2% |
Fundamental Drivers
The 18.6% change in PCRX stock from 7/31/2025 to 8/9/2026 was primarily driven by a 17.3% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 7312025 | 8092026 | Change |
|---|---|---|---|
| Stock Price ($) | 21.09 | 25.02 | 18.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 703 | 746 | 6.2% |
| P/S Multiple | 1.4 | 1.3 | -4.7% |
| Shares Outstanding (Mil) | 46 | 39 | 17.3% |
| Cumulative Contribution | 18.6% |
Market Drivers
7/31/2025 to 8/9/2026| Return | Correlation | |
|---|---|---|
| PCRX | 18.6% | |
| Market (SPY) | 23.4% | 11.9% |
| Sector (XLV) | 28.7% | 23.8% |
Fundamental Drivers
The -31.2% change in PCRX stock from 7/31/2023 to 8/9/2026 was primarily driven by a -47.0% change in the company's P/S Multiple.| (LTM values as of) | 7312023 | 8092026 | Change |
|---|---|---|---|
| Stock Price ($) | 36.35 | 25.02 | -31.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 669 | 746 | 11.5% |
| P/S Multiple | 2.5 | 1.3 | -47.0% |
| Shares Outstanding (Mil) | 46 | 39 | 16.4% |
| Cumulative Contribution | -31.2% |
Market Drivers
7/31/2023 to 8/9/2026| Return | Correlation | |
|---|---|---|
| PCRX | -31.2% | |
| Market (SPY) | 74.9% | 9.5% |
| Sector (XLV) | 29.3% | 15.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| PCRX Return | 1% | -36% | -13% | -44% | 37% | -1% | -57% |
| Peers Return | 6% | 8% | 20% | 7% | 26% | -14% | 59% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 105% |
Monthly Win Rates [3] | |||||||
| PCRX Win Rate | 50% | 33% | 42% | 33% | 50% | 62% | |
| Peers Win Rate | 50% | 57% | 52% | 53% | 63% | 50% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| PCRX Max Drawdown | -39% | -53% | -45% | -67% | -23% | -26% | |
| Peers Max Drawdown | -30% | -34% | -32% | -34% | -34% | -34% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: HRTX, COLL, VRTX, LLY, ABBV.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/7/2026 (YTD)
How Low Can It Go
| Event | PCRX | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -15.4% | -18.8% |
| % Gain to Breakeven | 18.1% | 23.1% |
| Time to Breakeven | 27 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -42.5% | -7.8% |
| % Gain to Breakeven | 73.8% | 8.5% |
| Time to Breakeven | 154 days | 18 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -11.4% | -6.7% |
| % Gain to Breakeven | 12.8% | 7.1% |
| Time to Breakeven | 4 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -44.0% | -33.7% |
| % Gain to Breakeven | 78.5% | 50.9% |
| Time to Breakeven | 98 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -21.1% | -19.2% |
| % Gain to Breakeven | 26.8% | 23.8% |
| Time to Breakeven | 107 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -14.9% | -3.7% |
| % Gain to Breakeven | 17.5% | 3.9% |
| Time to Breakeven | 33 days | 6 days |
In The Past
Pacira BioSciences's stock fell -15.4% during the 2025 US Tariff Shock. Such a loss loss requires a 18.1% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | PCRX | S&P 500 |
|---|---|---|
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -42.5% | -7.8% |
| % Gain to Breakeven | 73.8% | 8.5% |
| Time to Breakeven | 154 days | 18 days |
| 2020 COVID-19 Crash | ||
| % Loss | -44.0% | -33.7% |
| % Gain to Breakeven | 78.5% | 50.9% |
| Time to Breakeven | 98 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -21.1% | -19.2% |
| % Gain to Breakeven | 26.8% | 23.8% |
| Time to Breakeven | 107 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -40.8% | -12.2% |
| % Gain to Breakeven | 69.0% | 13.9% |
| Time to Breakeven | 50 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -37.9% | -17.9% |
| % Gain to Breakeven | 61.1% | 21.8% |
| Time to Breakeven | 196 days | 123 days |
In The Past
Pacira BioSciences's stock fell -15.4% during the 2025 US Tariff Shock. Such a loss loss requires a 18.1% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Pacira BioSciences (PCRX)
Pacira BioSciences (PCRX) is a biotechnology company focused on developing and commercializing innovative non-opioid solutions for pain management and regenerative health. The company's core mission is to provide healthcare practitioners and their patients with effective alternatives to traditional opioid-based pain relief, addressing the growing demand for safer and more sustainable pain management strategies.
The company's key products include EXPAREL, a bupivacaine liposome injectable suspension designed for long-lasting postsurgical pain control; ZILRETTA, an extended-release injectable suspension of triamcinolone acetonide for managing osteoarthritis knee pain; and the iovera system, a handheld cryoanalgesia device that precisely targets nerves with cold temperatures to block pain signals. Pacira also utilizes its proprietary multivesicular liposome drug delivery technology to encapsulate drugs, optimizing their release and efficacy without altering their molecular structure.
Pacira BioSciences primarily serves healthcare practitioners and their patients across the United States. By concentrating on non-opioid pain management and regenerative health, the company targets a significant market within surgical care, chronic pain conditions, and other areas where patients seek effective relief without the risks associated with opioids.
```AI Analysis | Feedback
Here are 1-3 brief analogies for Pacira BioSciences (PCRX):
- Like Amgen or Gilead Sciences for non-opioid pain solutions.
- Like Medtronic for non-opioid pain management technology.
- Like Moderna for non-opioid pain therapies.
AI Analysis | Feedback
- EXPAREL: A bupivacaine liposome injectable suspension for non-opioid pain management.
- ZILRETTA: A triamcinolone acetonide extended-release injectable suspension for pain management.
- iovera system: A non-opioid handheld cryoanalgesia device that produces controlled doses of cold temperature to targeted nerves.
- Proprietary multivesicular liposome: A drug delivery technology that encapsulates drugs without altering their molecular structure.
AI Analysis | Feedback
Pacira BioSciences (PCRX) primarily sells its products through major pharmaceutical wholesalers. These wholesalers then distribute Pacira's non-opioid pain management and regenerative health solutions to hospitals, ambulatory surgical centers, and physician practices across the United States.
Based on the company's public filings, its major customers, representing a significant portion of its product net revenue, are:
- AmerisourceBergen Corporation (Symbol: ABC)
- Cardinal Health, Inc. (Symbol: CAH)
- McKesson Corporation (Symbol: MCK)
AI Analysis | Feedback
AI Analysis | Feedback
Frank D. Lee Chief Executive Officer & Director
Mr. Lee joined Pacira BioSciences as Chief Executive Officer and a member of the Board of Directors in January 2024. He is an accomplished biopharmaceutical leader with thirty years of global experience. Prior to Pacira, he served as Chief Executive Officer and a director of the publicly traded Forma Therapeutics from March 2019 until its acquisition by Novo Nordisk in October 2022. During his tenure, he transformed Forma Therapeutics from an early-stage drug discovery company into one focused on clinical development. Before Forma, he spent 13 years at Genentech, a member of the Roche Group, in various leadership roles, including Senior Vice President, Global Product Strategy and Therapeutic Area Head for Immunology, Ophthalmology and Infectious Diseases, overseeing global product sales of $11 billion. Earlier in his career, he spent approximately 13 years across Novartis, Janssen, and Eli Lilly in engineering, manufacturing, sales/marketing, and business development. Mr. Lee currently serves as a Director of Bausch Health Companies, Inc. and as an Advisor to Lightstone Ventures. He also served as executive chairman of the board of privately held Therini Bio, Inc. and chairman of the board of privately held Catamaran Bio, Inc., and a member of the board of Bolt Biotherapeutics, Inc.
Shawn Cross Chief Financial Officer
Mr. Cross was appointed Chief Financial Officer of Pacira BioSciences in October 2024. He brings over 25 years of experience in the biopharmaceutical sector, including as a biotechnology executive, board member, and investment banker. Before joining Pacira, he was a member of the leadership team at Applied Molecular Transport Inc. (AMT), where he served as Chief Financial Officer from March 2020 to May 2022, President and Chief Operating Officer from May 2022 to March 2023, and Chief Executive Officer and a director from March 2023 through the closing of its merger with Cyclo Therapeutics, Inc. in December 2023. He led AMT through its initial public offering. Prior to AMT, Mr. Cross was an investment banker for more than 20 years, focusing on the biopharmaceutical industry, with senior roles at JMP Securities, Deutsche Bank Securities, Wells Fargo Securities, and Thomas Weisel Partners. He began his investment banking career at Alex. Brown & Sons. Mr. Cross currently serves on the board of directors of Cyclo Therapeutics.
Brendan Teehan Chief Commercial Officer
Mr. Teehan was named Chief Commercial Officer of Pacira BioSciences in January 2025. He is an accomplished biopharmaceutical executive with a 30-year track record of successfully building and leading commercial teams. Prior to joining Pacira, he held various commercial leadership positions at Acadia Pharmaceuticals, Inc., most recently as Chief Operating Officer and Head of Commercial. He also served in commercial leadership roles at Tesaro, Inc., Raintree Oncology Services, Amgen, Inc., and Johnson & Johnson. Mr. Teehan has extensive expertise in both privately and publicly held companies across multiple large and rare disease therapeutic categories and development stages.
Krys Corbett Chief Business Officer
Ms. Corbett was named Chief Business Officer of Pacira BioSciences in January 2025. She brings more than 25 years of industry experience across business development, strategic transactions, alliance management, and product portfolio management. Before joining Pacira, she led portfolio and product strategy for clinical and preclinical-stage programs at Lyell Immunopharma. She also served as Head of Business Development, General Counsel, and Corporate Secretary for Oric Pharmaceuticals. Earlier in her career, Ms. Corbett held alliance and asset management leadership roles at Roche and Genentech. She began her career at the law firm Wilson Sonsini Goodrich and Rosati.
Kristen Williams, Esq. Chief Administrative Officer & Secretary
Ms. Williams serves as Chief Administrative Officer & Secretary at Pacira BioSciences. She holds a Bachelor of Science Degree in Business Administration from Bucknell University and a J.D. Degree from the University of Denver, College of Law.AI Analysis | Feedback
Pacira BioSciences (PCRX) faces several key risks to its business, primarily stemming from its reliance on core products, the ongoing threat of generic competition, and intense market dynamics.
-
High Dependence on Key Products: Pacira BioSciences exhibits a significant dependence on a limited number of products, with EXPAREL and ZILRETTA accounting for 95% of its total revenue in 2024. EXPAREL alone contributed 78% of the company's total revenue in the same year. This concentration makes the company particularly vulnerable to market shifts, regulatory challenges, or competitive pressures impacting these products.
-
Generic Competition and Patent Erosion for EXPAREL: Despite comprehensive patent strategies and recent litigation settlements, the threat of generic competition for its flagship product, EXPAREL, remains a key risk. While some EXPAREL patents extend into the 2040s, a settlement in April 2025 permits volume-limited generic bupivacaine liposome injectable suspension to enter the U.S. market starting in early 2030, with unlimited generic production allowed from 2039. Additionally, a 2024 district court ruling invalidated one of Pacira's patents, potentially opening the door for generic entry, though the manufacturing complexity of EXPAREL’s proprietary multivesicular liposome (pMVL) technology is noted as a significant barrier.
-
Intense Competition and Market Adoption Challenges: The pain management market is highly competitive and dynamic, posing a continuous challenge for Pacira BioSciences. The company faces direct competition from other long-acting anesthetics, such as Heron Therapeutics’ ZYNRELEF, and larger pharmaceutical companies investing in non-opioid pain relief solutions. Moreover, products like ZILRETTA have experienced challenges with market traction and sales force transitions, and the iovera system competes in a field with numerous emerging players. Changes in healthcare policies, insurance coverage, and reimbursement rates also present regulatory and market risks that can impact the profitability and adoption of Pacira's products.
AI Analysis | Feedback
AI Analysis | Feedback
Pacira BioSciences, Inc. (symbol: PCRX) operates in the non-opioid pain management and regenerative health solutions markets with its key products EXPAREL, ZILRETTA, and the iovera system.
Here are the addressable market sizes for their main products:
- EXPAREL (bupivacaine liposome injectable suspension): The global EXPAREL market size was valued at approximately $1.2 billion in 2023 and is forecasted to reach $3.1 billion by 2032. North America accounted for approximately 45% of the global market in 2023.
- ZILRETTA (triamcinolone acetonide extended-release injectable suspension): The broader global intra-articular corticosteroid market, which includes ZILRETTA, was valued at approximately $1.6 billion globally in 2022. More specifically for its indication, the U.S. knee osteoarthritis (OA) injectable treatments market size was $1.02 billion in 2024 and is projected to reach around $1.95 billion by 2034.
- iovera system (cryoanalgesia device): Null
AI Analysis | Feedback
Pacira BioSciences (PCRX) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and product expansions:
- Accelerated EXPAREL Volume Growth and Expanded Market Access: Pacira anticipates continued growth from its flagship product, EXPAREL, driven by increased volume, broader commercial and government reimbursement access, and expanded patent protection extending through 2039. The NOPAIN Act is also cited as positively impacting the adoption and reimbursement of non-opioid alternatives, thereby enhancing EXPAREL's market presence.
- Strategic Partnerships for ZILRETTA and International Expansion: The company's strategic collaboration with Johnson & Johnson MedTech is projected to significantly expand the market reach of ZILRETTA by tripling promotional efforts and extending its presence into new physician specialties. Additionally, a partnership with LG Chem is aimed at expanding EXPAREL and ZILRETTA coverage in select Asia-Pacific markets, with initial revenues expected in 2027.
- Growing Adoption and Expanded Indications for iovera System: The iovera system is demonstrating promising outcomes in studies for chronic low back pain, showing better results than traditional radiofrequency ablation. Recent FDA clearance for a new SmartTip designed for deeper nerve access in lumbar applications further supports the potential for increased utilization and growth, particularly in spine-related pain management.
- Advancement of Pipeline Products: Pacira is investing in and progressing its pipeline, including PCRX-201, a gene therapy for osteoarthritis, and PCRX-2002, a ropivacaine-based long-acting local analgesic. Key data readouts for these programs are anticipated, offering potential for future revenue streams beyond the current commercial portfolio.
- Execution of the "5x30" Strategy: Pacira's overarching "5x30" strategy aims to significantly increase patient access to its products, targeting 3 million patients annually by 2030. This strategy emphasizes accelerating commercial portfolio growth, enhancing market penetration, and fostering continuous innovation across its product lines, thereby serving as a broad driver for revenue growth.
AI Analysis | Feedback
Share Repurchases
- Pacira BioSciences authorized a new share repurchase program of up to $300 million on April 17, 2025, which supersedes a previous authorization from May 7, 2024, and is set to expire on December 31, 2026.
- In 2025, the company completed $150 million in stock repurchases, reducing the shares outstanding to 41 million.
- From October 1, 2025, to December 31, 2025, Pacira repurchased 2,000,000 shares for $50 million, completing the repurchase of 5,932,106 shares for $150.05 million under the buyback announced on May 8, 2025.
Outbound Investments
- In February 2025, Pacira acquired the remaining 81% equity interest of GQ Bio Therapeutics GmbH for approximately $32 million, building on prior investments and partnerships for the development of a gene therapy platform.
- In November 2021, Pacira acquired Flexion Therapeutics for approximately $425 million, which strengthened its position in non-opioid pain management.
- Pacira BioSciences entered into an exclusive global licensing agreement with AmacaThera for US$230 million in November 2025.
Capital Expenditures
- Capital expenditures for Pacira BioSciences were $40 million in 2025, $25 million in 2024, $19 million in 2023, $15 million in 2022, and $10 million in 2021.
- The company has invested in its 200-liter facilities in Swindon and San Diego to enhance manufacturing efficiencies and ensure ample production capacity.
Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 137.75 |
| Mkt Cap | 63.4 |
| Rev LTM | 6,698 |
| Op Inc LTM | 2,467 |
| FCF LTM | 2,062 |
| FCF 3Y Avg | 1,113 |
| CFO LTM | 2,311 |
| CFO 3Y Avg | 1,334 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 10.3% |
| Rev Chg 3Y Avg | 9.9% |
| Rev Chg Q | 8.2% |
| QoQ Delta Rev Chg LTM | 2.0% |
| Op Inc Chg LTM | 42.4% |
| Op Inc Chg 3Y Avg | 36.6% |
| Op Mgn LTM | 26.7% |
| Op Mgn 3Y Avg | 24.0% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 32.2% |
| CFO/Rev 3Y Avg | 23.3% |
| FCF/Rev LTM | 26.2% |
| FCF/Rev 3Y Avg | 19.1% |
Price Behavior
| Market Price | $25.02 | |
| Market Cap ($ Bil) | 1.0 | |
| First Trading Date | 02/03/2011 | |
| Distance from 52W High | -9.4% | |
| 50 Days | 200 Days | |
| DMA Price | $24.64 | $23.55 |
| DMA Trend | indeterminate | up |
| Distance from DMA | 1.5% | 6.3% |
| 3M | 1YR | |
| Volatility | 34.3% | 36.7% |
| Downside Capture | 8.25 | 35.81 |
| Upside Capture | 39.91 | 26.68 |
| Correlation (SPY) | 6.9% | 13.4% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.35 | -0.27 | -0.18 | 0.19 | 0.32 | 0.30 |
| Up Beta | 0.59 | -0.07 | -0.02 | 0.02 | 0.50 | 0.10 |
| Down Beta | -0.15 | -0.11 | -0.09 | 0.52 | 0.32 | 0.43 |
| Up Capture | 75% | 3% | -13% | 37% | 26% | 6% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 12 | 25 | 33 | 70 | 138 | 384 |
| Down Capture | 13% | -89% | -42% | -21% | 20% | 69% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 10 | 18 | 30 | 55 | 113 | 365 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PCRX | |
|---|---|---|---|---|
| PCRX | 11.7% | 37.5% | 0.37 | - |
| Sector ETF (XLV) | 28.7% | 15.5% | 1.42 | 22.8% |
| Equity (SPY) | 23.3% | 12.8% | 1.36 | 12.6% |
| Gold (GLD) | 28.5% | 28.4% | 0.87 | -5.1% |
| Commodities (DBC) | 32.9% | 19.8% | 1.32 | -6.8% |
| Real Estate (VNQ) | 14.2% | 13.8% | 0.72 | 12.2% |
| Bitcoin (BTCUSD) | -43.7% | 43.0% | -1.21 | 11.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PCRX | |
|---|---|---|---|---|
| PCRX | -15.8% | 45.8% | -0.20 | - |
| Sector ETF (XLV) | 6.2% | 15.0% | 0.23 | 23.9% |
| Equity (SPY) | 13.5% | 17.2% | 0.61 | 21.4% |
| Gold (GLD) | 18.6% | 18.6% | 0.81 | 3.6% |
| Commodities (DBC) | 8.2% | 19.6% | 0.31 | 3.0% |
| Real Estate (VNQ) | 2.3% | 18.9% | 0.02 | 20.5% |
| Bitcoin (BTCUSD) | 9.0% | 53.0% | 0.36 | 10.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PCRX | |
|---|---|---|---|---|
| PCRX | -4.0% | 46.6% | 0.10 | - |
| Sector ETF (XLV) | 10.1% | 16.6% | 0.49 | 31.5% |
| Equity (SPY) | 15.4% | 17.9% | 0.73 | 30.3% |
| Gold (GLD) | 12.1% | 16.2% | 0.61 | 0.5% |
| Commodities (DBC) | 7.4% | 18.0% | 0.33 | 9.2% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.20 | 26.0% |
| Bitcoin (BTCUSD) | 58.4% | 66.2% | 0.98 | 8.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 8/7/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/4/2026 | -10.0% | ||
| 4/30/2026 | -4.1% | -7.3% | -9.9% |
| 2/26/2026 | -3.0% | 1.2% | 1.3% |
| 1/8/2026 | -9.6% | -20.6% | -19.0% |
| 11/6/2025 | 4.5% | 11.9% | 17.4% |
| 8/5/2025 | -0.6% | 10.1% | 18.6% |
| 5/8/2025 | 0.8% | 2.8% | 2.0% |
| 2/27/2025 | -5.2% | -6.0% | -1.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 17 | 19 | 13 |
| # Negative | 16 | 13 | 19 |
| Median Positive | 2.2% | 4.6% | 7.1% |
| Median Negative | -2.6% | -5.0% | -2.6% |
| Max Positive | 11.8% | 18.7% | 40.5% |
| Max Negative | -10.0% | -20.6% | -23.7% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/4/2026 | -10.0% | ||
| 4/30/2026 | -4.1% | -7.3% | -9.9% |
| 2/26/2026 | -3.0% | 1.2% | 1.3% |
| 1/8/2026 | -9.6% | -20.6% | -19.0% |
| 11/6/2025 | 4.5% | 11.9% | 17.4% |
| 8/5/2025 | -0.6% | 10.1% | 18.6% |
| 5/8/2025 | 0.8% | 2.8% | 2.0% |
| 2/27/2025 | -5.2% | -6.0% | -1.9% |
| 1/10/2025 | 11.1% | 18.7% | 40.5% |
| 11/6/2024 | 0.2% | -6.9% | 9.1% |
| 7/30/2024 | 5.7% | 10.6% | -23.7% |
| 5/7/2024 | 11.8% | 16.3% | 9.8% |
| 2/29/2024 | -0.6% | 0.7% | -2.3% |
| 1/4/2024 | 5.7% | 0.7% | -3.9% |
| 11/2/2023 | 3.1% | 5.7% | -1.8% |
| 8/2/2023 | 2.0% | 6.1% | -1.4% |
| 5/3/2023 | -7.2% | -8.2% | -18.1% |
| 2/28/2023 | 3.9% | -0.3% | -2.6% |
| 1/5/2023 | -3.7% | -2.1% | 7.1% |
| 11/14/2022 | -3.6% | -7.3% | -19.7% |
| 9/13/2022 | -0.2% | -2.5% | -0.1% |
| 7/14/2022 | -2.0% | -1.4% | 4.3% |
| 5/12/2022 | 2.1% | 2.5% | -6.9% |
| 3/15/2022 | 0.1% | 3.0% | 5.0% |
| 1/6/2022 | 0.6% | 1.1% | 6.6% |
| 11/9/2021 | -0.7% | -5.0% | -0.6% |
| 9/15/2021 | 1.0% | 4.6% | -4.6% |
| 7/13/2021 | -2.1% | -1.3% | -1.1% |
| 5/11/2021 | -0.3% | 1.2% | 0.1% |
| 3/9/2021 | 0.2% | 2.7% | -2.3% |
| 1/7/2021 | 7.5% | 16.7% | 17.6% |
| 11/12/2020 | 2.2% | 8.8% | -2.4% |
| 9/9/2020 | -0.1% | -1.5% | -5.0% |
| SUMMARY STATS | |||
| # Positive | 17 | 19 | 13 |
| # Negative | 16 | 13 | 19 |
| Median Positive | 2.2% | 4.6% | 7.1% |
| Median Negative | -2.6% | -5.0% | -2.6% |
| Max Positive | 11.8% | 18.7% | 40.5% |
| Max Negative | -10.0% | -20.6% | -23.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/04/2026 | 10-Q |
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 07/30/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/03/2023 | 10-Q |
| 12/31/2022 | 02/28/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/04/2026 | 10-Q |
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 07/30/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/03/2023 | 10-Q |
| 12/31/2022 | 02/28/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/03/2022 | 10-Q |
| 03/31/2022 | 05/04/2022 | 10-Q |
| 12/31/2021 | 02/28/2022 | 10-K |
| 09/30/2021 | 11/03/2021 | 10-Q |
| 06/30/2021 | 08/03/2021 | 10-Q |
| 03/31/2021 | 05/04/2021 | 10-Q |
| 12/31/2020 | 03/01/2021 | 10-K |
| 09/30/2020 | 10/30/2020 | 10-Q |
| 06/30/2020 | 08/06/2020 | 10-Q |
| 03/31/2020 | 05/07/2020 | 10-Q |
| 12/31/2019 | 02/21/2020 | 10-K |
| 09/30/2019 | 11/08/2019 | 10-Q |
Recent Forward Guidance
Updated 8/5/2026Latest: Q2 2026 Earnings Reported 8/4/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Total Revenue | 735.00 Mil | 747.50 Mil | 760.00 Mil | -1.3% | Lowered | Guidance: 757.50 Mil for 2026 | |
| 2026 Non-GAAP SG&A Expense | 310.00 Mil | 320.00 Mil | 330.00 Mil | -3.0% | Lowered | Guidance: 330.00 Mil for 2026 | |
| 2026 Stock-based compensation | 54.00 Mil | 56.50 Mil | 59.00 Mil | -2.6% | Lowered | Guidance: 58.00 Mil for 2026 | |
| 2026 EXPAREL net product sales | 600.00 Mil | 610.00 Mil | 620.00 Mil | 0 | Affirmed | Guidance: 610.00 Mil for 2026 | |
| 2026 Non-GAAP gross margin | 77.0% | 78.0% | 79.0% | 0 | Affirmed | Guidance: 78.0% for 2026 | |
| 2026 Non-GAAP R&D expense | 105.00 Mil | 110.00 Mil | 115.00 Mil | 0 | Affirmed | Guidance: 110.00 Mil for 2026 | |
Prior: Q1 2026 Earnings Reported 4/30/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 EXPAREL net product sales | 600.00 Mil | 610.00 Mil | 620.00 Mil | 0 | Affirmed | Guidance: 610.00 Mil for 2026 | |
| 2026 Total revenue | 745.00 Mil | 757.50 Mil | 770.00 Mil | 0 | Affirmed | Guidance: 757.50 Mil for 2026 | |
| 2026 Non-GAAP gross margin | 77.0% | 78.0% | 79.0% | 0 | Affirmed | Guidance: 78.0% for 2026 | |
| 2026 Non-GAAP R&D expense | 105.00 Mil | 110.00 Mil | 115.00 Mil | 0 | Affirmed | Guidance: 110.00 Mil for 2026 | |
| 2026 Non-GAAP SG&A expense | 320.00 Mil | 330.00 Mil | 340.00 Mil | 0 | Affirmed | Guidance: 330.00 Mil for 2026 | |
| 2026 Stock-based compensation | 54.00 Mil | 58.00 Mil | 62.00 Mil | 0 | Affirmed | Guidance: 58.00 Mil for 2026 | |
Q4 2025 Earnings Reported 2/26/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 EXPAREL net product sales | 600.00 Mil | 610.00 Mil | 620.00 Mil | ||||
| 2026 Total revenue | 745.00 Mil | 757.50 Mil | 770.00 Mil | ||||
| 2026 Non-GAAP gross margin | 77.0% | 78.0% | 79.0% | ||||
| 2026 Non-GAAP R&D expense | 105.00 Mil | 110.00 Mil | 115.00 Mil | ||||
| 2026 Non-GAAP SG&A expense | 320.00 Mil | 330.00 Mil | 340.00 Mil | ||||
| 2026 Stock-based compensation | 54.00 Mil | 58.00 Mil | 62.00 Mil | ||||
Q4 2025 Earnings Reported 1/8/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Share Repurchases | 150.00 Mil | ||||||
Insider Activity
Updated 6/12/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Riker, Lauren | Senior Vice President, Finance | Direct | Sell | 6122026 | 23.50 | 6,115 | 143,702 | 1,463,680 | Form |
| 2 | Williams, Kristen | Chief Administrative Officer | Direct | Sell | 6052026 | 22.27 | 10,259 | 228,468 | 3,720,471 | Form |
| 3 | Cross, Shawn | Chief Financial Officer | Direct | Sell | 4242026 | 25.16 | 12,941 | 325,596 | 2,650,380 | Form |
| 4 | Cross, Shawn | Chief Financial Officer | Direct | Sell | 4222026 | 25.01 | 1,500 | 37,515 | 2,634,578 | Form |
| 5 | Cross, Shawn | Chief Financial Officer | Direct | Sell | 4222026 | 25.01 | 2,845 | 71,153 | 2,634,578 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Riker, Lauren | Senior Vice President, Finance | Direct | Sell | 6122026 | 23.50 | 6,115 | 143,702 | 1,463,680 | Form |
| 2 | Williams, Kristen | Chief Administrative Officer | Direct | Sell | 6052026 | 22.27 | 10,259 | 228,468 | 3,720,471 | Form |
| 3 | Cross, Shawn | Chief Financial Officer | Direct | Sell | 4242026 | 25.16 | 12,941 | 325,596 | 2,650,380 | Form |
| 4 | Cross, Shawn | Chief Financial Officer | Direct | Sell | 4222026 | 25.01 | 1,500 | 37,515 | 2,634,578 | Form |
| 5 | Cross, Shawn | Chief Financial Officer | Direct | Sell | 4222026 | 25.01 | 2,845 | 71,153 | 2,634,578 | Form |
| 6 | Cross, Shawn | Chief Financial Officer | Direct | Sell | 4222026 | 25.14 | 7,714 | 193,930 | 2,648,273 | Form |
| 7 | Slonin, Jonathan | Chief Medical Officer | Direct | Sell | 3192026 | 22.82 | 3,261 | 74,416 | 5,103,469 | Form |
| 8 | Froimson, Mark | Direct | Sell | 3192026 | 21.81 | 500 | 10,905 | 439,166 | Form | |
| 9 | Riker, Lauren | Senior Vice President, Finance | Direct | Sell | 2032026 | 20.81 | 4,000 | 83,240 | 1,088,639 | Form |
| 10 | Williams, Kristen | Chief Administrative Officer | Direct | Sell | 2032026 | 20.53 | 13,137 | 269,703 | 2,695,651 | Form |
| 11 | Riker, Lauren | Senior Vice President, Finance | Direct | Sell | 1062026 | 24.24 | 1,416 | 34,324 | 1,431,717 | Form |
| 12 | Cross, Shawn | Chief Financial Officer | Direct | Sell | 12112025 | 25.14 | 9,104 | 228,875 | 1,414,125 | Form |
| 13 | Cross, Shawn | Chief Financial Officer | Direct | Sell | 12112025 | 25.03 | 15,896 | 397,877 | 1,407,938 | Form |
| 14 | Slonin, Jonathan | Chief Medical Officer | Direct | Sell | 11192025 | 24.09 | 3,960 | 95,396 | 4,296,861 | Form |
| 15 | Cross, Shawn | Chief Financial Officer | Direct | Sell | 11132025 | 22.09 | 12,060 | 266,405 | 1,242,562 | Form |
| 16 | Ceesay, Abraham | Direct | Sell | 9082025 | 27.19 | 2,354 | 64,005 | 245,770 | Form | |
| 17 | Bigal, Marcelo | Direct | Sell | 8112025 | 23.67 | 4,912 | 116,267 | 269,672 | Form | |
| 18 | Riker, Lauren | Senior Vice President, Finance | Direct | Sell | 6052025 | 26.21 | 5,578 | 146,208 | 1,561,172 | Form |
| 19 | Williams, Kristen | Chief Administrative Officer | Direct | Sell | 6052025 | 26.24 | 14,376 | 377,226 | 4,239,702 | Form |
Investor Activity (13F)
Updated Aug 10, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
Industry Resources
| Health Care Resources |
| U.S. National Library of Medicine |
| ClinicalTrials.gov |
| Modern Healthcare |
| Healthcare Dive |
| Fierce Healthcare |
| Health Affairs |
| Health Data Management |
| FDA Tracker |
| Pharmaceuticals Resources |
| Fierce Pharma |
| Pharm Exec |
| Endpoints News |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.

