Franklin Resources Inc. Sells 6,304,716 Shares of Heron Therapeutics, Inc. (NASDAQ:HRTX)

Franklin Resources Inc. lessened its position in Heron Therapeutics, Inc. (NASDAQ:HRTX) by 99.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,026 shares of the biotechnology company’s stock after selling 6,304,716 shares during the quarter. Franklin Resources Inc.’s holdings in Heron Therapeutics were worth $46,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Barclays PLC grew its position in Heron Therapeutics by 29.8% in the 3rd quarter. Barclays PLC now owns 218,455 shares of the biotechnology company’s stock valued at $434,000 after acquiring an additional 50,109 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Heron Therapeutics in the third quarter worth about $39,000. XTX Topco Ltd increased its stake in Heron Therapeutics by 449.0% in the 3rd quarter. XTX Topco Ltd now owns 297,568 shares of the biotechnology company’s stock worth $592,000 after buying an additional 243,363 shares during the period. Zacks Investment Management lifted its holdings in Heron Therapeutics by 2.4% during the 3rd quarter. Zacks Investment Management now owns 475,575 shares of the biotechnology company’s stock valued at $946,000 after buying an additional 11,320 shares in the last quarter. Finally, Clearline Capital LP lifted its holdings in Heron Therapeutics by 48.9% during the 3rd quarter. Clearline Capital LP now owns 2,226,512 shares of the biotechnology company’s stock valued at $4,431,000 after buying an additional 731,246 shares in the last quarter. 80.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HRTX has been the topic of a number of research analyst reports. StockNews.com lowered shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $4.00 price objective on shares of Heron Therapeutics in a research note on Wednesday, December 4th.

Heron Therapeutics Price Performance

Shares of Heron Therapeutics stock opened at $1.60 on Friday. Heron Therapeutics, Inc. has a 1 year low of $1.04 and a 1 year high of $3.93. The stock has a market cap of $243.35 million, a price-to-earnings ratio of -8.89 and a beta of 1.67. The firm’s 50-day moving average is $1.51 and its two-hundred day moving average is $2.08.

Heron Therapeutics (NASDAQ:HRTX) last issued its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). The business had revenue of $32.81 million during the quarter, compared to the consensus estimate of $36.40 million. During the same period last year, the firm earned ($0.17) EPS. On average, equities analysts expect that Heron Therapeutics, Inc. will post -0.13 earnings per share for the current year.

About Heron Therapeutics

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.