Pacira BioSciences Reports Preliminary 2023 Total Revenue Of $675M Vs. $666.8M Last Year (Consensus $677.3M)
Portfolio Pulse from Benzinga Newsdesk
Pacira BioSciences announced preliminary 2023 total revenue of $675M, a slight increase from $666.8M in 2022, but below the consensus estimate of $677.3M. The company also expects EXPAREL net product sales to be $538.1M for 2023, marginally higher than the $536.9M reported in 2022.
January 04, 2024 | 10:14 pm
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NEGATIVE IMPACT
Pacira BioSciences' preliminary revenue for 2023 shows a slight increase from 2022 but falls short of market expectations. EXPAREL sales growth is minimal.
The reported preliminary revenue is below the consensus estimate, which may lead to negative investor sentiment in the short term. The minimal growth in EXPAREL sales, a key product for Pacira, could also be a concern for investors, potentially impacting the stock price negatively.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100