Shares of Pacira BioSciences PCRX gained 11.1% on Friday after the company shared better-than-expected preliminary fourth-quarter 2024 sales figures for its marketed products.

Additionally, the company unveiled a five-year growth strategy aimed at accelerating its transformation into an innovative biopharmaceutical company and establishing itself as a leader in musculoskeletal pain and related areas. This has also likely contributed to the stock price rally.

PCRX’s Preliminary Q4 2024 Results

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 $140 million and our model estimate of $138.8 million. Revenue growth from Exparel sales was partially offset by a shift in vial mix and contracted discounts.

In the past three months, PCRX’s shares have gained 26.5% against the industry’s 12.7% decline.

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Zilretta’s net product sales came in at $33.1 million, up 15% year over year. The reported figure beat the Zacks Consensus Estimate of $29.6 million as well as our model estimate of $28.6 million. Net product sales of iovera were $6.5 million, up 8% from the year-ago quarter. The figure surpassed the Zacks Consensus Estimate of $6.4 million but missed our model estimate of $7.2 million.

Pacira did not recognize any other revenues, comprising sales of bupivacaine liposome injectable suspension and royalties, in the fourth quarter of 2024. In the year-ago period, the company recognized $2.6 million in other revenues.

For the full year, PCRX announced preliminary, unaudited total revenues of $701 million, representing a 4% increase from the $675 million reported last year. The reported preliminary figure beat the Zacks Consensus Estimate of $694.9 million.

More on PCRX’s Growth Strategy and Value Creation

Pacira has outlined its ambitious "5x30" strategy, a growth-oriented plan designed to drive innovation and value creation by 2030. Central to this vision is the goal of treating more than three million patients annually while achieving a double-digit compounded annual growth rate in product revenues. The company also aims to enhance profitability by improving its gross margin by five percentage points compared to 2024 levels.

Another key component of the strategy involves expanding Pacira’s clinical pipeline, with plans to develop five novel programs. Additionally, the company seeks to establish five strategic partnerships, encompassing both pipeline and commercial agreements, to bolster its position in the biopharmaceutical sector.

Management believes that the cash flow from PCRX’s strong commercial portfolio will support the developmental activities for innovative, non-opioid pain therapies to address unmet needs in musculoskeletal pain and related areas.

Pacira BioSciences, Inc. Price and Consensus

Pacira BioSciences, Inc. price-consensus-chart | Pacira BioSciences, Inc. Quote

PCRX’s Zacks Rank & Stocks to Consider

Pacira currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the sector are Castle Biosciences CSTL, CytomX Therapeutics CTMX and Halozyme Therapeutics HALO. Currently, CSTL and CTMX sport a Zacks Rank #1 (Strong Buy) each, while HALO carries 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, 2024 estimates for Castle Biosciences’ earnings per share have remained constant at 34 cents. During the same timeframe, loss per share estimates for 2025 have remained constant at $1.84. In three months, shares of Castle Biosciences have lost 11.7%.

CSTL’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 172.72%.

In the past 30 days, estimates for CytomX Therapeutics’ 2024 loss per share have remained constant at 5 cents. Estimates for 2025 loss per share have remained constant at 35 cents during the same timeframe. In three months, CytomX Therapeutics’ stock has lost 19.3%.

CTMX’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average surprise of 115.70%.

In the past 30 days, estimates for Halozyme Therapeutics’ 2024 earnings per share have Improved from $4.11 to $4.13. Estimates for 2025 earnings per share have increased from $4.84 to $4.99 during the same timeframe. In three months, Halozyme Therapeutics’ shares have gained 2.1%.

HALO’s earnings beat estimates in three of the trailing four quarters and matched once, delivering an average surprise of 14.86%.

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