NEW YORK (TheStreet) -- Shares of Pacira Pharmaceuticals (PCRX) - Get Report are down by 3.89% to $57.29 on heavy trading volume late Thursday afternoon, following the release of the company's 2015 fourth quarter results.
Before today's opening bell, the Parsippany, NJ-based specialty pharmaceutical company posted earnings of 20 cents per diluted share, which fell short of analysts' expectations of 27 cents per share.
Revenue for the period was $69.3 million, topping Wall Street's estimates of $68.4 million.
"We finished 2015 with a solid performance in spite of the challenges we faced this past year," CEO Dave Stack said in a statement.
"In 2016, we look forward to refocusing our efforts on developing and supporting the untapped market opportunities for EXPAREL and DepoFoam, starting with the official oral surgery launch, advancement of robust clinical programs in nerve block and orthopedic procedures as well as patient and healthcare provider outreach," he added.
Pacira is focused on the development, commercialization and manufacture of pharmaceutical products, based on its DepoFoam drug delivery technology, primarily for use in hospitals and ambulatory surgery centers.
About 1.3 million of the company's shares changed hands by this afternoon, well above its average volume of 849,956 shares per day.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.
The primary factors that have impacted the rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.
The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and impressive record of earnings per share growth.
As a counter to these strengths, the team also finds weaknesses including a generally disappointing performance in the stock itself and weak operating cash flow.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: PCRX