Franklin Advisers, Inc. recently announced the acquisition of new stake in Heron Therapeutics Inc. (NASDAQ:HRTX). The institutional investor has increased its shareholding in the Healthcare company by 0.01% to 11.78 million shares with purchase of 1316.0 shares. This fresh investment now brings its stake to 9.88% valued currently at $28.17 million. In addition, Great Point Partners LLC raised its holdings by 0.71 million to 6.36 million shares. And JPMorgan Investment Management, I has lifted its position by 4.61% or 0.27 million shares – to 6.05 million shares.
With over 1.83 million Heron Therapeutics Inc. (HRTX) shares trading Tuesday and a closing price of $1.33 on the day, the dollar volume was approximately $2.43 million. The shares have shown a negative half year performance of -55.07% and its price on 05/23/23 lost nearly -8.28%. Currently, there are 119.25M common shares owned by the public and among those 118.62M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for HRTX have a consensus price objective of $7.92. The analysts have set the share’s price value over the next 12 months at a high of $10.00 and a low of $5.50. The average price target is 83.21% above its recent price level and an upside to the estimated low will see the stock gain 75.82% over that period. But an upside of 86.7% will see the stock hit the forecast high price target while median target price for the stock is $8.00.
Insiders at the company have transacted a total of 65 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 46 of these insider trades were purchases, accounting for 336,874 shares. Insider sales of the common stock occurred on 19 occasions, with total insider shares sold totaling 42,800 shares.
The top 3 mutual fund holders in Heron Therapeutics Inc. are JPMorgan Small Cap Growth Fund, Vanguard Total Stock Market ETF, and FTIF SICAV – Biotechnology Discov. JPMorgan Small Cap Growth Fund owns 3.98 million shares of the company’s stock, all valued at over $9.51 million. The company bought an additional 80456.0 shares recently to bring their total holdings to about 3.34% of the shares outstanding. FTIF SICAV – Biotechnology Discov now owns shares totaling to 2.66% of the shares outstanding.
Shares of Heron Therapeutics Inc. (NASDAQ: HRTX) opened at $1.42, down -$0.03 from a prior closing price of $1.45. However, the script later moved the day high at 1.5300, down -8.28%. The company’s stock has a 5-day price change of 5.56% and -50.74% over the past three months. HRTX shares are trading -46.80% year to date (YTD), with the 12-month market performance down to -63.06% lower. It has a 12-month low price of $1.07 and touched a high of $5.62 over the same period. HRTX has an average intraday trading volume of 2.49 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -34.35%, -38.41%, and -56.81% respectively.
Institutional ownership of Heron Therapeutics Inc. (NASDAQ: HRTX) shares accounts for 102.55% of the company’s 119.25M shares outstanding. Mutual fund holders own 37.80%, while other institutional holders and individual stakeholders account for 64.26% and 20.54% respectively.
It has a market capitalization of $147.02M and a beta (3y monthly) value of 0.97. The earnings-per-share (ttm) stands at -$1.37. Price movements for the stock have been influenced by the stock’s volatility, which stands at 13.65% over the week and 11.74% over the month.
Analysts forecast that Heron Therapeutics Inc. (HRTX) will achieve an EPS of -$0.23 for the current quarter, -$0.22 for the next quarter and -$0.5 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.26 while analysts give the company a high EPS estimate of -$0.19. Comparatively, EPS for the current quarter was -$0.55 a year ago. Earnings per share for the fiscal year are expected to increase by 25.40%, and 44.00% over the next financial year. EPS should grow at an annualized rate of 47.50% over the next five years, compared to 14.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Heron Therapeutics Inc. (HRTX) as a “Strong Buy” at a consensus score of 1.80. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 0 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
