Principal Financial Group Inc. Boosts Stake in Heron Therapeutics, Inc. (NASDAQ:HRTX)

Principal Financial Group Inc. grew its stake in Heron Therapeutics, Inc. (NASDAQ:HRTX) by 456.5% during the third quarter, HoldingsChannel reports. The fund owned 102,651 shares of the biotechnology company’s stock after acquiring an additional 84,205 shares during the quarter. Principal Financial Group Inc.’s holdings in Heron Therapeutics were worth $204,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Congress Park Capital LLC grew its stake in Heron Therapeutics by 25.3% in the third quarter. Congress Park Capital LLC now owns 1,978,078 shares of the biotechnology company’s stock valued at $3,936,000 after purchasing an additional 399,577 shares during the last quarter. Verition Fund Management LLC boosted its holdings in shares of Heron Therapeutics by 340.0% in the 3rd quarter. Verition Fund Management LLC now owns 108,115 shares of the biotechnology company’s stock valued at $215,000 after buying an additional 83,542 shares in the last quarter. Squarepoint Ops LLC grew its position in shares of Heron Therapeutics by 369.0% in the 2nd quarter. Squarepoint Ops LLC now owns 363,700 shares of the biotechnology company’s stock worth $1,273,000 after buying an additional 286,160 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Heron Therapeutics by 256.2% during the 2nd quarter. Marshall Wace LLP now owns 1,761,051 shares of the biotechnology company’s stock worth $6,164,000 after acquiring an additional 1,266,697 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Heron Therapeutics by 16.0% during the second quarter. The Manufacturers Life Insurance Company now owns 45,771 shares of the biotechnology company’s stock valued at $160,000 after acquiring an additional 6,328 shares during the last quarter. 80.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HRTX. StockNews.com downgraded Heron Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 31st. Needham & Company LLC restated a “buy” rating and set a $4.00 price target on shares of Heron Therapeutics in a research note on Wednesday, December 4th.

Heron Therapeutics Stock Performance

Heron Therapeutics stock opened at $1.79 on Tuesday. The business’s 50-day simple moving average is $1.51 and its two-hundred day simple moving average is $2.04. The company has a market cap of $272.25 million, a PE ratio of -9.94 and a beta of 1.60. Heron Therapeutics, Inc. has a fifty-two week low of $1.04 and a fifty-two week high of $3.93.

Heron Therapeutics (NASDAQ:HRTX) last released its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). The business had revenue of $32.81 million during the quarter, compared to analysts’ expectations of $36.40 million. During the same period last year, the company earned ($0.17) earnings per share. As a group, analysts predict that Heron Therapeutics, Inc. will post -0.13 EPS for the current fiscal year.

Heron Therapeutics Company 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.