Heron Therapeutics, Inc. (NASDAQ:HRTX) Shares Bought by Rhumbline Advisers

Rhumbline Advisers increased its stake in Heron Therapeutics, Inc. (NASDAQ:HRTX) by 31.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 184,472 shares of the biotechnology company’s stock after buying an additional 44,230 shares during the quarter. Rhumbline Advisers owned about 0.12% of Heron Therapeutics worth $646,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Legato Capital Management LLC purchased a new position in Heron Therapeutics in the second quarter valued at about $837,000. SG Americas Securities LLC acquired a new stake in shares of Heron Therapeutics during the second quarter worth $694,000. Panagora Asset Management Inc. raised its position in shares of Heron Therapeutics by 49.8% during the second quarter. Panagora Asset Management Inc. now owns 562,228 shares of the biotechnology company’s stock worth $1,968,000 after purchasing an additional 186,802 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Heron Therapeutics by 33.9% during the second quarter. Bank of New York Mellon Corp now owns 449,212 shares of the biotechnology company’s stock valued at $1,572,000 after buying an additional 113,655 shares in the last quarter. Finally, Orchard Capital Management LLC grew its holdings in shares of Heron Therapeutics by 4.7% during the fourth quarter. Orchard Capital Management LLC now owns 2,243,426 shares of the biotechnology company’s stock valued at $3,814,000 after buying an additional 100,603 shares in the last quarter. Institutional investors and hedge funds own 80.01% of the company’s stock.

Wall Street Analysts Forecast Growth

HRTX has been the subject of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $5.00 price target on shares of Heron Therapeutics in a research note on Wednesday, August 7th. Rodman & Renshaw initiated coverage on Heron Therapeutics in a report on Thursday, June 13th. They issued a “buy” rating and a $7.00 target price for the company.

Heron Therapeutics Stock Performance

Shares of HRTX opened at $1.96 on Wednesday. The business’s fifty day moving average price is $2.25 and its two-hundred day moving average price is $2.77. The firm has a market capitalization of $295.28 million, a price-to-earnings ratio of -3.21 and a beta of 1.80. Heron Therapeutics, Inc. has a 52 week low of $0.50 and a 52 week high of $3.93.

Heron Therapeutics (NASDAQ:HRTX) last issued its quarterly earnings data 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 company had revenue of $36.02 million during the quarter, compared to analyst estimates of $35.35 million. During the same quarter in the previous year, the firm earned ($0.35) earnings per share. As a group, research analysts forecast that Heron Therapeutics, Inc. will post -0.1 EPS for the current 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.