Acadian Asset Management LLC Makes New Investment in Heron Therapeutics, Inc. (NASDAQ:HRTX)

Acadian Asset Management LLC acquired a new stake in Heron Therapeutics, Inc. (NASDAQ:HRTX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 36,462 shares of the biotechnology company’s stock, valued at approximately $127,000.

A number of other institutional investors have also modified their holdings of the company. nVerses Capital LLC acquired a new position in Heron Therapeutics during the second quarter valued at approximately $27,000. HB Wealth Management LLC acquired a new position in shares of Heron Therapeutics during the 2nd quarter valued at $35,000. Headlands Technologies LLC acquired a new position in shares of Heron Therapeutics during the 1st quarter valued at $30,000. Susquehanna Fundamental Investments LLC purchased a new stake in Heron Therapeutics during the 1st quarter worth $32,000. Finally, Valeo Financial Advisors LLC acquired a new stake in Heron Therapeutics in the 2nd quarter valued at $45,000. Hedge funds and other institutional investors own 80.01% of the company’s stock.

Heron Therapeutics Stock Performance

HRTX opened at $2.06 on Friday. Heron Therapeutics, Inc. has a 1-year low of $0.50 and a 1-year high of $3.93. The company has a 50-day moving average of $2.33 and a 200-day moving average of $2.77. The company has a market capitalization of $310.35 million, a P/E ratio of -3.38 and a beta of 1.80.

Heron Therapeutics (NASDAQ:HRTX) last issued its earnings results on Tuesday, August 6th. The biotechnology company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The firm had revenue of $36.02 million during the quarter, compared to the consensus estimate of $35.35 million. During the same period last year, the firm posted ($0.35) EPS. As a group, sell-side analysts expect that Heron Therapeutics, Inc. will post -0.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on HRTX. Needham & Company LLC restated a “buy” rating and set a $5.00 price objective on shares of Heron Therapeutics in a research note on Wednesday, August 7th. Rodman & Renshaw started coverage on Heron Therapeutics in a research report on Thursday, June 13th. They set a “buy” rating and a $7.00 price target on the stock.

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.