Los Angeles Capital Management LLC Trims Holdings in Heron Therapeutics, Inc. (NASDAQ:HRTX)

Los Angeles Capital Management LLC trimmed its position in Heron Therapeutics, Inc. (NASDAQ:HRTX) by 4.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 493,264 shares of the biotechnology company’s stock after selling 21,113 shares during the period. Los Angeles Capital Management LLC owned about 0.33% of Heron Therapeutics worth $1,366,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in Heron Therapeutics by 30.2% in the 4th quarter. Victory Capital Management Inc. now owns 19,929 shares of the biotechnology company’s stock valued at $34,000 after purchasing an additional 4,617 shares in the last quarter. ACT Advisors LLC. purchased a new position in Heron Therapeutics in the 4th quarter valued at about $38,000. Raymond James Financial Services Advisors Inc. lifted its holdings in Heron Therapeutics by 61.2% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 48,309 shares of the biotechnology company’s stock valued at $82,000 after purchasing an additional 18,333 shares in the last quarter. Knights of Columbus Asset Advisors LLC lifted its holdings in shares of Heron Therapeutics by 100.0% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 83,482 shares of the biotechnology company’s stock worth $142,000 after acquiring an additional 41,741 shares during the period. Finally, Panagora Asset Management Inc. purchased a new position in shares of Heron Therapeutics during the 4th quarter worth about $236,000. 80.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on HRTX shares. Capital One Financial started coverage on shares of Heron Therapeutics in a report on Tuesday, April 23rd. They set an “overweight” rating and a $6.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and set a $5.00 price objective on shares of Heron Therapeutics in a report on Thursday, May 16th. Finally, Rodman & Renshaw started coverage on shares of Heron Therapeutics in a report on Thursday, June 13th. They set a “buy” rating and a $7.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $6.00.

Heron Therapeutics Stock Performance

HRTX opened at $3.23 on Friday. The firm has a 50 day moving average price of $3.13 and a 200 day moving average price of $2.64. The company has a market cap of $486.60 million, a PE ratio of -5.29 and a beta of 1.81. Heron Therapeutics, Inc. has a 1 year low of $0.50 and a 1 year high of $3.93.

Heron Therapeutics (NASDAQ:HRTX) last posted its earnings results on Tuesday, May 7th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.06. The business had revenue of $34.67 million for the quarter, compared to analyst estimates of $32.50 million. On average, sell-side analysts predict that Heron Therapeutics, Inc. will post -0.1 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.