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 17.80% valued currently at $45.41 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.
Currently, there are 150.07M common shares owned by the public and among those 147.85M shares have been available to trade.
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Insiders at the company have transacted a total of 31 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 21 of these insider trades were purchases, accounting for 2,907,963 shares. Insider sales of the common stock occurred on 10 occasions, with total insider shares sold totaling 26,159 shares.
The top 3 mutual fund holders in Heron Therapeutics Inc are Biotech Growth Trust Plc, Vanguard Total Stock Market ETF, and FTIF SICAV – Biotechnology Discov. Biotech Growth Trust Plc owns 3.72 million shares of the company’s stock, all valued at over $6.33 million. The company bought an additional 0.92 million shares recently to bring their total holdings to about 2.48% of the shares outstanding. FTIF SICAV – Biotechnology Discov now owns shares totaling to 2.12% of the shares outstanding.
However, the script later moved the day high at 2.3700, up 11.96%. The company’s stock has a 5-day price change of 8.84% and 267.17% over the past three months. HRTX shares are trading 37.65% year to date (YTD), with the 12-month market performance down to -20.68% lower. It has a 12-month low price of $0.50 and touched a high of $3.36 over the same period. HRTX has an average intraday trading volume of 3.29 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 21.27%, 53.42%, and 58.99% respectively.
Institutional ownership of Heron Therapeutics Inc (NASDAQ: HRTX) shares accounts for 79.56% of the company’s 150.07M shares outstanding. Mutual fund holders own 28.18%, while other institutional holders and individual stakeholders account for 57.92% and 21.63% respectively.
It has a market capitalization of $351.16M and a beta (3y monthly) value of 1.66. 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 8.94% over the week and 9.84% over the month.
Analysts forecast that Heron Therapeutics Inc (HRTX) will achieve an EPS of -$0.16 for the current quarter, -$0.09 for the next quarter and -$0.37 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 46.86%, and 61.97% 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.
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.
