Rubric Capital Management LP has recently announced that it has increased stake in Heron Therapeutics Inc (NASDAQ:HRTX) by 127.35%. After grabbing 26.71 million shares, the institutional investor is now in possession of 14.96 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 18.98% having worth around $27.51 million. Moreover, Velan Capital Investment Manageme increased its share by 2.49 million to have a control over 6.99 million shares. And Palisade Capital Management LP raised its holdings to 0.17 million shares by acquiring 4.14 million shares or 2.94% of the stake.
Heron Therapeutics Inc (HRTX) concluded trading on 11/15/23 at a closing price of $0.86, with 22.12 million shares of worth about $19.02 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -31.20% during that period and on Wednesday the price saw a gain of about 59.26%. Currently the company’s common shares owned by public are about 140.76M shares, out of which, 138.85M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 4 analysts are covering the HRTX stock and their offered price forecasts bring an average price target of $5.63. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $9.00 and could fall to a lowest price of $2.50. The stock’s current price level is 84.7% above of average price target set by the analysts, while a rise to estimated low would result in gain of 65.6% for the stock. However, touching the estimated high of $9.00 would mean a gain of 90.44% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 42 times over the past 12 months. They bought 2,785,442 shares in 29 of the transactions. In 13 selling transactions, insiders dumped 22,824 shares.
JPMorgan Small Cap Growth Fund, Vanguard Total Stock Market ETF, and FTIF SICAV – Biotechnology Discov are the top 3 mutual funds which are holding stakes in Heron Therapeutics Inc JPMorgan Small Cap Growth Fund is currently holding 3.87 million shares of worth totaling $3.99 million. The company recently came buying 0.0 shares which brought its stake up to 2.75% of the company’s outstanding shares. FTIF SICAV – Biotechnology Discov, after buying 3.18 million shares, have now control over 2.26% of the stake in the company. It holds 0.0 shares of worth $3.27 million.
Heron Therapeutics Inc (NASDAQ: HRTX) started trading at $0.7334, above $0.19 from concluding price of the previous day. However, the stock later moved at a day high price of 0.9156, or with a gain of 59.26%. Stock saw a price change of 19.76% in past 5 days and over the past one month there was a price change of 13.91%. Year-to-date (YTD), HRTX shares are showing a performance of -65.60% which decreased to -73.70% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.50 but also hit the highest price of $3.49 during that period. The average intraday trading volume for Heron Therapeutics Inc shares is 2.07 million. The stock is currently trading 33.36% above its 20-day simple moving average (SMA20), while that difference is down -2.68% for SMA50 and it goes to -47.20% lower than SMA200.
Rubric Capital Management LP acquired 26.71 million shares of Heron Therapeutics Inc having value of about $27.51 million. Data submitted at the U.S SEC by Rubric Capital Management LP revealed that the firm now holds 14.96 million shares in the company valued at close to $12868612.58, or have control over 127.35% stake in the company. Heron Therapeutics Inc (NASDAQ: HRTX) currently have 140.76M outstanding shares and institutions hold larger chunk of about 73.45% of that. Holding of mutual funds in the company is about 29.82% while other institutional holders and individual stake holders have control over 57.81% and 25.19% of the stake respectively.
The stock has a current market capitalization of $121.05M and its 3Y-monthly beta is at 1.06. It has posted earnings per share of -$0.97 in the same period. It has Quick Ratio of 1.91. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for HRTX, volatility over the week remained 23.14% while standing at 13.39% over the month.
Analysts are in expectations that Heron Therapeutics Inc (HRTX) stock would likely to be making an EPS of $Vertex Pharmaceuticals Incorpor in the current quarter, while forecast for next quarter EPS is $349.34 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $Heron Therapeutics, Inc. which is $Galera Therapeutics, Inc. at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $RAYTHEON TECHNOLOGIES CORP in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 38.62% while it is estimated to increase by 52.44% in next year. EPS is likely to grow at an annualized rate of 47.50% for next 5-years, compared to annual growth of 14.46% made by the stock over the past 5-years.
Analysts at 4 brokerage firms have issued recommendations for the Heron Therapeutics Inc (HRTX)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.00. Out of those 4 Wall Street analysts, 4 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Guggenheim on May 27, 2020 offering a Buy rating for the stock and assigned a target price of $24 to it.
