Heron Therapeutics (NASDAQ:HRTX) Trading Down 2.9%

Heron Therapeutics, Inc. (NASDAQ:HRTX)’s share price was down 2.9% on Tuesday . The stock traded as low as $3.36 and last traded at $3.37. Approximately 135,253 shares changed hands during trading, a decline of 95% from the average daily volume of 2,616,612 shares. The stock had previously closed at $3.47.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $5.00 target price on shares of Heron Therapeutics in a research note on Thursday, May 16th. Capital One Financial assumed coverage on Heron Therapeutics in a report on Tuesday, April 23rd. They set an “overweight” rating and a $6.00 price objective on the stock. Finally, Rodman & Renshaw began coverage on Heron Therapeutics in a research report on Thursday, June 13th. They set a “buy” rating and a $7.00 target price for the company. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.00.

Heron Therapeutics Trading Up 1.1 %

The stock has a market capitalization of $417.31 million, a P/E ratio of -4.54 and a beta of 1.80. The firm’s fifty day moving average is $3.20 and its 200-day moving average is $2.72.

Heron Therapeutics (NASDAQ:HRTX) last posted its quarterly earnings data on Tuesday, May 7th. The biotechnology company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.06. The firm had revenue of $34.67 million for the quarter, compared to analyst estimates of $32.50 million. Equities research analysts expect that Heron Therapeutics, Inc. will post -0.1 EPS for the current year.

Hedge Funds Weigh In On Heron Therapeutics

Institutional investors have recently bought and sold shares of the business. Rubric Capital Management LP increased its stake in shares of Heron Therapeutics by 127.3% in the third quarter. Rubric Capital Management LP now owns 26,713,503 shares of the biotechnology company’s stock valued at $27,515,000 after buying an additional 14,963,503 shares in the last quarter. Monaco Asset Management SAM increased its position in Heron Therapeutics by 219.5% in the 4th quarter. Monaco Asset Management SAM now owns 2,226,475 shares of the biotechnology company’s stock valued at $3,785,000 after acquiring an additional 1,529,567 shares in the last quarter. Congress Park Capital LLC raised its stake in shares of Heron Therapeutics by 205.3% in the fourth quarter. Congress Park Capital LLC now owns 1,798,650 shares of the biotechnology company’s stock worth $3,058,000 after acquiring an additional 1,209,500 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its position in shares of Heron Therapeutics by 100.0% during the third quarter. Adage Capital Partners GP L.L.C. now owns 2,000,000 shares of the biotechnology company’s stock worth $2,060,000 after purchasing an additional 1,000,000 shares in the last quarter. Finally, Tejara Capital Ltd grew its stake in shares of Heron Therapeutics by 28.6% during the third quarter. Tejara Capital Ltd now owns 2,109,681 shares of the biotechnology company’s stock valued at $2,173,000 after purchasing an additional 469,548 shares during the last quarter. Institutional investors own 80.01% of the company’s stock.

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.