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Pacira (PCRX) Soars 11.1%: Is Further Upside Left in the Stock?
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Pacira (PCRX - Free Report) shares ended the last trading session 11.1% higher at $20.64. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 6.2% loss over the past four weeks.
The sudden rise in the stock price was observed after PCRX 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.
This specialty drugmaker is expected to post quarterly earnings of $0.83 per share in its upcoming report, which represents a year-over-year change of -6.7%. Revenues are expected to be $178.98 million, down 1.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Pacira, the consensus EPS estimate for the quarter has been revised 0.6% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on PCRX going forward to see if this recent jump can turn into more strength down the road.
Pacira is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Travere Therapeutics (TVTX - Free Report) , finished the last trading session 4.8% lower at $18.09. TVTX has returned 6.1% over the past month.
Travere's consensus EPS estimate for the upcoming report has changed -7.6% over the past month to -$0.61. Compared to the company's year-ago EPS, this represents a change of +47.4%. Travere currently boasts a Zacks Rank of #2 (Buy).
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Pacira (PCRX) Soars 11.1%: Is Further Upside Left in the Stock?
Pacira (PCRX - Free Report) shares ended the last trading session 11.1% higher at $20.64. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 6.2% loss over the past four weeks.
The sudden rise in the stock price was observed after PCRX 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.
This specialty drugmaker is expected to post quarterly earnings of $0.83 per share in its upcoming report, which represents a year-over-year change of -6.7%. Revenues are expected to be $178.98 million, down 1.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Pacira, the consensus EPS estimate for the quarter has been revised 0.6% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on PCRX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Pacira is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Travere Therapeutics (TVTX - Free Report) , finished the last trading session 4.8% lower at $18.09. TVTX has returned 6.1% over the past month.
Travere's consensus EPS estimate for the upcoming report has changed -7.6% over the past month to -$0.61. Compared to the company's year-ago EPS, this represents a change of +47.4%. Travere currently boasts a Zacks Rank of #2 (Buy).