The Bottom Line on Why Pacira Pharmaceuticals Inc. Rocketed Higher by as Much as 24%

The Bottom Line on Why Pacira Pharmaceuticals Inc. Rocketed Higher by as Much as 24%

Shares of Pacira Pharmaceuticals (NASDAQ: PCRX), which focuses on developing medicines to be used in the ambulatory or surgical setting, surged by as much as 24% during Wednesday's trading session following the early-morning release of the biopharmaceutical company's third-quarter operating results. As you can probably surmise by the move higher, Pacira was able to gallop past Wall Street's consensus estimates where it counts, despite mixed results.

For the quarter, Pacira generated $66.8 million in net product sales, which was solely derived from its post-surgical analgesic Exparel. Though there were two fewer selling days in the third quarter, Pacira recognized a 3% increase in year-over-year sales in the third quarter. With the additional $171,000 in other product sales, including DepoCyte, as well as $358,000 in royalty revenue, Pacira generated $67.3 million in total sales.

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Source: Fool.com