Pacira BioSciences, Inc. PCRX reported third-quarter 2021 earnings of 72 cents per share, beating the Zacks Consensus Estimate of 66 cents. The company reported earnings of 68 cents per share in the year-ago quarter.Total revenues increased 8.7% to $127.7 million in the third quarter of 2021 from the year-earlier figure of $117.5 million owing to a continuous strong uptake of Exparel. The top line, however, missed the Zacks Consensus Estimate of $130 million.Shares of Pacira have declined 10.3% so far this year compared with the industry’s decrease of 14.1%.Image Source: Zacks Investment ResearchQuarter in DetailPacira’s top line mainly comprises product revenues, other product sales and royalty revenues.Exparel net product sales were $121.9 million, up 7.2% from $113.7 million generated in the year-ago quarter. However, sale of the drug decreased 6.3% on a sequential basis.Exparel/bupivacaine liposome injectable suspension sales came in at $0.7 million in the reported quarter compared with $0.4 million in the year-ago quarter. Exparel is a liposome injection of bupivacaine, indicated for a single-dose administration into the surgical site to produce postsurgical analgesia.Iovera system generated sales worth $4.2 million in the third quarter of 2021, reflecting a sequential increase of 10.5% and a year-over-year rise of 55.5%.Royalty revenues came in at $0.9 million in the reported quarter compared with $0.6 million in the year-ago period.Research and development (R&D) expenses (excluding stock-based compensation) declined 21.3% to $10.4 million.Selling, general and administrative (SG&A) expenses (excluding stock-based compensation) decreased 10.9% year over year to $39.7 million in the reported quarter.2021 OutlookPacira is not providing guidance for 2021 due to the COVID-19 pandemic still negatively impacting sales. As a result, it is reporting monthly intra-quarter unaudited net product sales until the company gains enough visibility around the impacts of COVID-19.Recent UpdatesLast month, Pacira entered into a definitive agreement to acquire Flexion Therapeutics, Inc. FLXN for $8.50 per share in cash plus one non-tradeable contingent value right worth up to $8 per share in cash. With this acquisition, Pacria is looking to strengthen its position in the non-opioid pain management market. The transaction is expected to close later in the fourth quarter of 2021.Flexion’s only marketed drug Zilretta (triamcinolone acetonide extended-release injectable suspension) was approved in 2017 as the first and the only extended-release intra-articular therapy providing relief to osteoarthritis (OA) patients with knee pain.In October 2021, Pacira received a Paragraph IV Certification notice letter, which stated that New Jersey-based eVenus Pharmaceutical Laboratories, Inc. submitted an abbreviated new drug application (ANDA) to the FDA, seeking authorization for the manufacturing and marketing of a generic version of Pacira’s flagship product Exparel in the United States.Pacira BioSciences, Inc. Price, Consensus and EPS Surprise Pacira BioSciences, Inc. price-consensus-eps-surprise-chart | Pacira BioSciences, Inc. QuoteZacks Rank & Stocks to ConsiderPacira currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the same sector include Enanta Pharmaceuticals, Inc. ENTA and Endo International plc ENDP, both carrying a Zacks Rank #2 (Buy) at present.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Enanta Pharmaceuticals’ loss per share estimates have narrowed 10.2% for 2021 and 16.3% for 2022 over the past 60 days. The stock has skyrocketed 104.7% year to date.Endo International’s earnings estimates have been revised 1.3% upward for 2021 and 0.4% upward for 2022 over the past 60 days. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. You know this company from its past glory days, but few would expect that it's poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks' Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Endo International plc (ENDP): Free Stock Analysis Report Pacira BioSciences, Inc. (PCRX): Free Stock Analysis Report Enanta Pharmaceuticals, Inc. (ENTA): Free Stock Analysis Report Flexion Therapeutics, Inc. (FLXN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research