Rubric Capital Management LP 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 127.35% to 26.71 million shares with purchase of 14.96 million shares. This fresh investment now brings its stake to 18.98% valued currently at $17.02 million. In addition, The Vanguard Group, Inc. raised its holdings by 29979.0 to 7.97 million shares. And Velan Capital Investment Manageme has lifted its position by 55.26% or 2.49 million shares – to 6.99 million shares.
With over 10.7 million Heron Therapeutics Inc (HRTX) shares trading Monday and a closing price of $1.30 on the day, the dollar volume was approximately $13.92 million. The shares have shown a negative half year performance of -10.34% and its price on 11/20/23 gained nearly 19.27%. Currently, there are 150.07M common shares owned by the public and among those 147.77M 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: 4 analysts who have offered their price forecasts for HRTX have a consensus price objective of $5.63. The analysts have set the share’s price value over the next 12 months at a high of $9.00 and a low of $2.50. The average price target is 76.87% above its recent price level and an upside to the estimated low will see the stock gain 48.0% over that period. But an upside of 85.56% will see the stock hit the forecast high price target while median target price for the stock is $5.50.
Insiders at the company have transacted a total of 42 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 29 of these insider trades were purchases, accounting for 2,785,442 shares. Insider sales of the common stock occurred on 13 occasions, with total insider shares sold totaling 22,824 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 3.87 million shares of the company’s stock, all valued at over $2.47 million. FTIF SICAV – Biotechnology Discov now owns shares totaling to 2.26% of the shares outstanding.
Shares of Heron Therapeutics Inc (NASDAQ: HRTX) opened at $1.13, up $0.04 from a prior closing price of $1.09. However, the script later moved the day high at 1.3900, up 19.27%. The company’s stock has a 5-day price change of 138.18% and -21.21% over the past three months. HRTX shares are trading -48.00% year to date (YTD), with the 12-month market performance down to -55.63% lower. It has a 12-month low price of $0.50 and touched a high of $3.41 over the same period. HRTX has an average intraday trading volume of 2.48 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 87.97%, 50.73%, and -18.82% respectively.
Institutional ownership of Heron Therapeutics Inc (NASDAQ: HRTX) shares accounts for 78.77% of the company’s 150.07M shares outstanding. Mutual fund holders own 29.82%, while other institutional holders and individual stakeholders account for 58.86% and 25.13% respectively.
It has a market capitalization of $195.09M and a beta (3y monthly) value of 1.38. The earnings-per-share (ttm) stands at -$0.97. Price movements for the stock have been influenced by the stock’s volatility, which stands at 22.59% over the week and 15.30% over the month.
Analysts forecast that Heron Therapeutics Inc (HRTX) will achieve an EPS of -$0.15 for the current quarter, -$0.08 for the next quarter and -$0.38 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.19 while analysts give the company a high EPS estimate of -$0.13. Comparatively, EPS for the current quarter was -$0.17 a year ago. Earnings per share for the fiscal year are expected to increase by 44.76%, and 58.54% over the next financial year. EPS should grow at an annualized rate of 47.50% over the next five years, compared to 14.46% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Heron Therapeutics Inc (HRTX) as a “Strong Buy” at a consensus score of 1.00. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 0 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the HRTX, a number of firms have released research notes about the stock. Guggenheim stated their Buy rating for the stock in a research note on May 27, 2020, with the firm’s price target at $24.
