Principal Financial Group Inc. Raises Position in Heron Therapeutics, Inc. (NASDAQ:HRTX)

Principal Financial Group Inc. lifted its stake in Heron Therapeutics, Inc. (NASDAQ:HRTX) by 456.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 102,651 shares of the biotechnology company’s stock after purchasing an additional 84,205 shares during the quarter. Principal Financial Group Inc. owned about 0.07% of Heron Therapeutics worth $204,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Clearline Capital LP lifted its position in Heron Therapeutics by 48.9% in the third quarter. Clearline Capital LP now owns 2,226,512 shares of the biotechnology company’s stock worth $4,431,000 after buying an additional 731,246 shares during the last quarter. Congress Park Capital LLC boosted its stake in shares of Heron Therapeutics by 25.3% during the 3rd quarter. Congress Park Capital LLC now owns 1,978,078 shares of the biotechnology company’s stock worth $3,936,000 after purchasing an additional 399,577 shares during the period. Marshall Wace LLP grew its holdings in Heron Therapeutics by 256.2% during the 2nd quarter. Marshall Wace LLP now owns 1,761,051 shares of the biotechnology company’s stock valued at $6,164,000 after purchasing an additional 1,266,697 shares during the last quarter. AQR Capital Management LLC grew its holdings in Heron Therapeutics by 1,460.9% during the 2nd quarter. AQR Capital Management LLC now owns 607,135 shares of the biotechnology company’s stock valued at $2,125,000 after purchasing an additional 568,238 shares during the last quarter. Finally, GSA Capital Partners LLP raised its position in Heron Therapeutics by 18.4% in the 3rd quarter. GSA Capital Partners LLP now owns 512,736 shares of the biotechnology company’s stock worth $1,020,000 after purchasing an additional 79,680 shares during the period. Hedge funds and other institutional investors own 80.01% of the company’s stock.

Heron Therapeutics Stock Performance

Shares of NASDAQ HRTX opened at $1.79 on Tuesday. Heron Therapeutics, Inc. has a 52-week low of $1.04 and a 52-week high of $3.93. The firm has a market capitalization of $272.25 million, a price-to-earnings ratio of -9.94 and a beta of 1.60. The stock has a 50 day moving average price of $1.51 and a 200 day moving average price of $2.04.

Heron Therapeutics (NASDAQ:HRTX) last posted its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($0.03) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.03). The firm had revenue of $32.81 million for the quarter, compared to the consensus estimate of $36.40 million. During the same period in the previous year, the company posted ($0.17) EPS. Analysts forecast that Heron Therapeutics, Inc. will post -0.13 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.