12 Best Small Cap Pharma Stocks to Buy Now

4. Pacira BioSciences, Inc. (NASDAQ:PCRX)

Number of Hedge Fund Holders: 30

Pacira BioSciences, Inc. (NASDAQ:PCRX) is a specialty pharmaceutical company focused on developing non-opioid pain management solutions, with its primary product being Exparel, a long-acting local analgesic for postsurgical pain. The company sells Exparel directly to hospitals, surgery centers, and healthcare providers. Pacira BioSciences, Inc. (NASDAQ:PCRX) stands out in the industry due to its commitment to non-opioid treatments, aiming to reduce opioid use and address the opioid crisis by offering safer alternatives for pain management.

Pacira BioSciences, Inc. (NASDAQ:PCRX) reported its Q3 2024 financial results with total revenues of $168.6 million, slightly up from $163.9 million in Q3 2023. The increase was mainly driven by higher sales of Exparel and iovera, although Zilretta sales remained steady. Exparel net product sales grew to $132.0 million, reflecting a 3% increase in volume and a 1% price increase. Iovera also saw a slight sales rise, while Zilretta sales declined slightly.

As one of the best pharmaceutical stocks, the company posted a net loss of $143.5 million, or $3.11 per share, primarily due to a $163.2 million goodwill impairment charge. Excluding this charge, non-GAAP net income stood at $38.2 million, or $0.83 per share. Despite this, Pacira BioSciences, Inc. (NASDAQ:PCRX) demonstrated strong operational profitability, with adjusted EBITDA rising to $54.7 million from the prior quarter.

Pacira BioSciences, Inc. (NASDAQ:PCRX) also holds a healthy cash position of $453.8 million and generated $53.9 million in cash from operations. In a positive development, the Centers for Medicare and Medicaid Services (CMS) confirmed that Exparel and iovera are eligible for separate Medicare payments under the NOPAIN Act, which should boost the adoption of these non-opioid pain management products in hospital settings.