Franklin Resources Inc. trimmed its stake in shares of Heron Therapeutics, Inc. (NASDAQ:HRTX - Free Report) by 99.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,026 shares of the biotechnology company's stock after selling 6,304,716 shares during the period. Franklin Resources Inc.'s holdings in Heron Therapeutics were worth $46,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new position in Heron Therapeutics in the second quarter worth about $27,000. Cutter & CO Brokerage Inc. purchased a new position in shares of Heron Therapeutics in the third quarter worth approximately $39,000. Y Intercept Hong Kong Ltd bought a new stake in Heron Therapeutics during the third quarter valued at approximately $39,000. B. Riley Wealth Advisors Inc. purchased a new stake in Heron Therapeutics during the second quarter valued at approximately $41,000. Finally, Sei Investments Co. bought a new position in Heron Therapeutics in the second quarter worth approximately $44,000. Institutional investors own 80.01% of the company's stock.
Heron Therapeutics Stock Performance
Shares of HRTX traded up $0.06 during mid-day trading on Friday, reaching $1.66. The stock had a trading volume of 1,299,429 shares, compared to its average volume of 1,638,814. The business has a fifty day moving average of $1.51 and a 200 day moving average of $2.07. The firm has a market cap of $252.48 million, a price-to-earnings ratio of -9.22 and a beta of 1.60. Heron Therapeutics, Inc. has a 12 month low of $1.04 and a 12 month high of $3.93.
Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last issued its earnings results on Tuesday, November 12th. The biotechnology company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). The firm had revenue of $32.81 million during the quarter, compared to the consensus estimate of $36.40 million. During the same period in the prior year, the company posted ($0.17) EPS. On average, research analysts forecast that Heron Therapeutics, Inc. will post -0.13 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on HRTX shares. Needham & Company LLC reissued a "buy" rating and set a $4.00 price objective on shares of Heron Therapeutics in a research report on Wednesday, December 4th. StockNews.com lowered Heron Therapeutics from a "buy" rating to a "hold" rating in a report on Tuesday.
Check Out Our Latest Stock Analysis on HRTX
About Heron Therapeutics
(
Free Report)
Heron Therapeutics, Inc, a commercial-stage biotechnology company, focuses on enhancing the lives of patients by developing and commercializing therapeutic that enhances medical care. The company's product candidates utilize its proprietary Biochronomer, a drug delivery technology, which delivers therapeutic levels of a range of short-acting pharmacological agents over a period from days to weeks with a single administration.
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