Heron Therapeutics (NASDAQ:HRTX) Trading Up 5%

Shares of Heron Therapeutics, Inc. (NASDAQ:HRTX) rose 5% on Tuesday . The company traded as high as $3.38 and last traded at $3.38. Approximately 121,465 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 2,614,209 shares. The stock had previously closed at $3.22.

Wall Street Analyst Weigh In

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

Heron Therapeutics Stock Performance

The company has a market capitalization of $528.78 million, a price-to-earnings ratio of -5.59 and a beta of 1.81. The company has a fifty day simple moving average of $3.09 and a two-hundred day simple moving average of $2.59.

Heron Therapeutics (NASDAQ:HRTX) last issued its quarterly 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 during the quarter, compared to analyst estimates of $32.50 million. As a group, analysts expect that Heron Therapeutics, Inc. will post -0.1 EPS for the current year.

Hedge Funds Weigh In On Heron Therapeutics

A number of hedge funds have recently made changes to their positions in HRTX. 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. Rubric Capital Management LP grew its stake in shares of Heron Therapeutics by 127.3% during 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 acquiring an additional 14,963,503 shares in the last quarter. Tejara Capital Ltd increased its position 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 worth $2,173,000 after acquiring an additional 469,548 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Heron Therapeutics by 61.2% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 48,309 shares of the biotechnology company’s stock worth $82,000 after acquiring an additional 18,333 shares in the last quarter. Finally, Congress Park Capital LLC boosted its holdings in 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 valued at $3,058,000 after purchasing an additional 1,209,500 shares during the last quarter. Institutional investors and hedge funds own 80.01% of the company’s stock.

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.