Brevan Howard Capital Management LP Purchases New Shares in Pacira BioSciences, Inc. (NASDAQ:PCRX)

Brevan Howard Capital Management LP acquired a new position in Pacira BioSciences, Inc. (NASDAQ:PCRX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 33,813 shares of the company's stock, valued at approximately $637,000. Brevan Howard Capital Management LP owned approximately 0.07% of Pacira BioSciences as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in Pacira BioSciences by 16.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 502,204 shares of the company's stock worth $9,462,000 after purchasing an additional 70,307 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Pacira BioSciences by 495.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company's stock valued at $62,000 after acquiring an additional 2,749 shares during the period. Empowered Funds LLC grew its position in shares of Pacira BioSciences by 5.1% during the 4th quarter. Empowered Funds LLC now owns 229,485 shares of the company's stock valued at $4,323,000 after acquiring an additional 11,149 shares during the period. Norges Bank bought a new position in shares of Pacira BioSciences during the 4th quarter valued at approximately $2,405,000. Finally, Gagnon Securities LLC grew its position in shares of Pacira BioSciences by 4.8% during the 4th quarter. Gagnon Securities LLC now owns 321,743 shares of the company's stock valued at $6,062,000 after acquiring an additional 14,800 shares during the period. 99.73% of the stock is owned by institutional investors.

Pacira BioSciences Stock Down 6.7%

Shares of NASDAQ:PCRX traded down $1.69 during trading on Tuesday, reaching $23.40. The stock had a trading volume of 1,459,877 shares, compared to its average volume of 968,920. Pacira BioSciences, Inc. has a one year low of $11.16 and a one year high of $31.67. The company has a market capitalization of $1.08 billion, a P/E ratio of -11.53 and a beta of 0.56. The company has a current ratio of 2.25, a quick ratio of 1.89 and a debt-to-equity ratio of 0.51. The firm's 50-day simple moving average is $24.77 and its 200 day simple moving average is $22.22.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Needham & Company LLC lowered their target price on shares of Pacira BioSciences from $32.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday. Royal Bank of Canada reiterated a "sector perform" rating and issued a $18.00 price objective on shares of Pacira BioSciences in a research report on Tuesday, January 14th. Barclays increased their target price on shares of Pacira BioSciences from $17.00 to $24.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Truist Financial raised shares of Pacira BioSciences from a "sell" rating to a "hold" rating and lifted their target price for the company from $8.00 to $25.00 in a research note on Thursday, January 30th. Finally, HC Wainwright boosted their price objective on shares of Pacira BioSciences from $48.00 to $65.00 and gave the stock a "buy" rating in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $26.44.

Pacira BioSciences Profile

Pacira Biosciences, Inc is a holding company, which engages in the provision of non-opioid pain management and regenerative health solutions to improve patients' journeys along the neural pain pathway. Its products include EXPAREL, iovera, and DepoFoam. The company was founded in December 2006 and is headquartered in Tampa, FL.