With guidance unchanged and no major catalysts near-term, the stock is likely range-bound. Key catalysts to watch: ZILRETTA shoulder OA Phase 3 topline (H2 2026) and PCRX-201 Phase 2 Part A readout. The aggressive buyback ($50M in Q1) provides a floor but does not offset declining GAAP earnings. Monitor for any guidance revision on the Q2 call.
Price Chart
Executive Summary
Pacira BioSciences reported Q1 2026 revenue of $177.4M (+5% YoY) and GAAP EPS of $0.07, down from $0.10 a year ago. Non-GAAP EPS was $0.60, roughly in line with the $0.62 Street consensus from the prior quarter. The company reiterated full-year 2026 guidance, completed enrollment in a pivotal ZILRETTA shoulder OA study, and repurchased $50M in stock. Results were solid but not exceptional — revenue growth was steady, but GAAP profitability declined and guidance was unchanged.
Key Financial Metrics
Key Facts
- Q1 2026 total revenue of $177.4M, up 5% YoY from $168.9M
- GAAP net income of $2.9M ($0.07 per share) vs $4.8M ($0.10) in Q1 2025
- Non-GAAP net income of $24.5M ($0.60 per share) vs $30.0M ($0.62) in Q1 2025
- Adjusted EBITDA of $40.2M vs $44.1M in Q1 2025
- EXPAREL sales $143.3M (+5% YoY); ZILRETTA $26.8M (+15%); iovera $6.2M (+21%)
- Repurchased 2.2M shares for $50M at avg $22.28; $100M remaining on authorization
- Full-year 2026 guidance reiterated: total revenue $745M-$770M, EXPAREL $600M-$620M
- Completed enrollment in Phase 3 ZILRETTA shoulder OA study; topline expected by year-end
- Cash and investments of $202.2M at quarter-end
Financial Impact
Revenue grew 5% YoY but GAAP net income fell 39% YoY; non-GAAP EPS roughly flat vs prior year
Risk Factors
- GAAP net income declining YoY despite revenue growth — operating expenses rising faster
- EXPAREL faces generic competition risk and GPO discounting pressure
- Pipeline catalysts (ZILRETTA shoulder, PCRX-201) are binary and may not materialize
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-028854 |
| Document: pcrx-20260430.htm | 0001628280-26-028854 |
| Document: 0001628280-26-028854-index-headers.html | 0001628280-26-028854 |
| Document: 0001628280-26-028854-index.html | 0001628280-26-028854 |
| Document: 0001628280-26-028854.txt | 0001628280-26-028854 |
| 8-K Data (Synthetic) | 0001628280-26-028854 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 6, 2026 8w ago | Press Release | $25.58 $26.60 | ▲ +3.99% | ▲ +3.39% | $25.21 (−1.45%) |
Jul 22, 2026 10w ago | Press Release | $25.59 $24.36 | ▼ −4.81% | ▼ −7.70% | $25.21 (−1.48%) |
Jun 30, 2026 13w ago | 8-K | $25.37 $26.47 | ▲ +4.34% | ▲ +5.36% | $25.21 (−0.63%) |
Jun 13, 2026 15w ago | Insider Cluster | $22.74 $25.54 | ▲ +12.31% | ▲ +13.06% | $25.21 (+10.86%) |
Jun 4, 2026 17w ago | DEFA14A | $22.75 $25.59 | ▲ +12.48% | ▲ +10.62% | $25.21 (+10.81%) |
Jun 4, 2026 17w ago | 144 | $22.67 $25.39 | ▲ +12.00% | ▲ +13.37% | $25.21 (+11.20%) |
Jun 1, 2026 17w ago | DEFA14A | $22.25 $25.03 | ▲ +12.49% | ▲ +14.06% | $25.21 (+13.30%) |
May 27, 2026 18w ago | DEFA14A | $23.68 $25.24 | ▲ +6.59% | ▲ +9.73% | $25.21 (+6.46%) |
May 26, 2026 18w ago | DEFA14A | $24.04 $24.37 | ▲ +1.37% | ▲ +3.27% | $25.21 (+4.87%) |
May 20, 2026 19w ago | DEFA14A | $23.48 $22.72 | ▼ −3.24% | ▼ −3.57% | $25.21 (+7.37%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access