Pacira BioSciences, Inc. (PCRX) Stock

Pacira BioSciences, Inc. (PCRX) is a Healthcare stock trading at $24.66 (as of 2026-08-21), with a market capitalization of $982.99M and a trailing P/E of 67.2. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Pacira BioSciences, Inc. provides non-opioid pain management and regenerative health solutions for healthcare practitioners and their patients in the United States. The company offers EXPAREL, a bupivacaine liposome injectable suspension; ZILRETTA, a triamcinolone acetonide extended-release injectable suspension; and iovera system, a non-opioid handheld cryoanalgesia device used to produce controlled doses of cold temperature only to targeted nerves. It also develops proprietary multivesicular liposome, a drug delivery technology that encapsulates drugs without altering their molecular structure. The company was formerly known as Pacira Pharmaceuticals, Inc. and changed its name to Pacira BioSciences, Inc. in April 2019. Pacira BioSciences, Inc. was incorporated in 2006 and is headquartered in Tampa, Florida.

Understand Pacira BioSciences, Inc.: how it makes money

Pacira BioSciences sells non-opioid pain management and regenerative health products, including Expirel (bupivacaine liposome injectable), Zilretta (triamcinolone acetonide extended-release injectable), and iovera (a non-opioid handheld cryoanalgesia device), and makes money when these therapies are prescribed and reimbursed by healthcare providers and patients.

Pacira's profit engine is net price realization and reimbursement economics, especially for Expirel, since key drivers tracked include Expirel gross to net and how much of the business is under contracted pricing, which then interacts with sales momentum (average daily sales).

Business quality (Weak): Good: the provided operating dashboard includes specific Expirel net pricing and sales momentum metrics. Limitation: there is no usable segment breakdown, and most KPIs are specific to Expirel, so it is harder to compare performance across the full product portfolio from the facts provided.

Valuation: At 194× earnings, PCRX trades 1053% above the Pharmaceutical Products average (17×). Note: one-time items can distort reported P/E.

Bull case

Net pricing discipline is monitored through Expirel gross to net, with 83% provided, and a high share of Expirel business tracked as under contracted pricing (90%): This supports the idea that Pacira can manage reimbursement and discounting effects that flow into net selling price.
Demand momentum is tracked via Expirel average daily sales versus prior year, showing 178% for the second quarter: A strong sales trend can help translate branded utilization into revenue.
Access and reach indicators include Expirel covered lives and commercial lives covered by Expirel Access: Broader covered access can support sustained adoption by payers and providers.

Bear case

Net selling price is sensitive to discounting and reimbursement structures, reflected by the 340B pricing program discount (5%) and the Expirel gross to net metric: If reimbursement economics weaken, net pricing could fall even if prescriptions remain steady.
Reimbursement levels matter in specific settings, indicated by the Expirel reimbursement rate per milligram in ambulatory surgery settings (C9290) of 1.44: Any change in how this reimbursement works could pressure realized economics.
Operating visibility provided here is heavily Expirel-focused (most KPIs listed relate to Expirel): This makes it harder to assess risks or offsets from Zilretta and iovera using only the supplied facts.

Valuation — source: SEC EDGAR (first-party)
Price	$24.66
Market Cap	$982.99M
P/E Ratio	67.2
EV / EBITDA	10.9
Price / Book	1.46
Price / Sales	1.32
FCF Yield	18.3%
DCF Value (model)	$46.40
DCF Upside vs Price	88.2%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$726.41M
Net Margin	1.0%
Revenue Growth (YoY)	6.2%
EPS Growth (YoY)	-209.1%
FCF Growth (YoY)	502.5%

Financial Health — source: SEC EDGAR
Altman Z-Score	1.86 (grey)
Piotroski F-Score	9/9 (strong)

Valuation vs Sector & Industry
Stock P/E	67.2
Sector P/E (Healthcare)	21.7
Industry P/E (Pharmaceutical Products)	17.2
vs Sector	208.9%
vs Industry	291.0%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($152.22M)
Institutional Holders Tracked	10
Congressional Trades (recent)	10

Company
Sector	Healthcare
Industry	Pharmaceutical Products
CEO	Frank D. Lee
Employees	788
Country	US
IPO Date	2011-02-03

Related Companies (Pharmaceutical Products; 8 comparable drugmakers)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.