Principal Financial Group Inc. Acquires 84,205 Shares of Heron Therapeutics, Inc. (NASDAQ:HRTX)

Principal Financial Group Inc. raised its holdings in Heron Therapeutics, Inc. (NASDAQ:HRTX) by 456.5% during the third quarter, Holdings Channel.com reports. The fund owned 102,651 shares of the biotechnology company’s stock after purchasing an additional 84,205 shares during the period. Principal Financial Group Inc.’s holdings in Heron Therapeutics were worth $204,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. nVerses Capital LLC acquired a new stake in shares of Heron Therapeutics during the second quarter worth $27,000. HB Wealth Management LLC bought a new position in Heron Therapeutics during the second quarter worth about $35,000. Cutter & CO Brokerage Inc. acquired a new position in shares of Heron Therapeutics during the 3rd quarter worth about $39,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of Heron Therapeutics in the 2nd quarter valued at about $41,000. Finally, Sei Investments Co. bought a new stake in shares of Heron Therapeutics in the 2nd quarter valued at about $44,000. Institutional investors and hedge funds own 80.01% of the company’s stock.

Heron Therapeutics Stock Performance

NASDAQ:HRTX opened at $1.14 on Tuesday. The stock has a 50-day simple moving average of $1.74 and a 200 day simple moving average of $2.44. Heron Therapeutics, Inc. has a 52-week low of $1.04 and a 52-week high of $3.93. The company has a market cap of $173.39 million, a PE ratio of -6.33 and a beta of 1.81.

Heron Therapeutics (NASDAQ:HRTX) last issued its quarterly 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 business had revenue of $32.81 million for the quarter, compared to the consensus estimate of $36.40 million. During the same period in the prior year, the business earned ($0.17) earnings per share. On average, research analysts predict that Heron Therapeutics, Inc. will post -0.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on HRTX. StockNews.com cut shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, November 21st. Needham & Company LLC lowered their price target on Heron Therapeutics from $5.00 to $4.00 and set a “buy” rating for the company in a report on Wednesday, November 13th.

Heron Therapeutics Profile

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.