ArrowMark Colorado Holdings LLC raised its holdings in shares of Heron Therapeutics Inc (NASDAQ:HRTX) by 33.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 838,117 shares of the biotechnology company’s stock after purchasing an additional 208,548 shares during the period. ArrowMark Colorado Holdings LLC owned 1.30% of Heron Therapeutics worth $15,170,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Rock Springs Capital Management LP acquired a new position in shares of Heron Therapeutics during the fourth quarter worth $4,525,000. Renaissance Technologies LLC acquired a new position in shares of Heron Therapeutics during the fourth quarter worth $1,444,000. Alliancebernstein L.P. increased its position in shares of Heron Therapeutics by 68.5% during the fourth quarter. Alliancebernstein L.P. now owns 110,900 shares of the biotechnology company’s stock worth $2,007,000 after purchasing an additional 45,100 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Heron Therapeutics by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 397,456 shares of the biotechnology company’s stock worth $7,193,000 after purchasing an additional 2,410 shares in the last quarter. Finally, Pinnacle Associates Ltd. acquired a new position in shares of Heron Therapeutics during the fourth quarter worth $201,000.
A number of equities analysts have recently issued reports on HRTX shares. Mizuho reaffirmed a “buy” rating and set a $28.00 price target on shares of Heron Therapeutics in a research report on Friday, December 8th. Cantor Fitzgerald set a $31.00 price target on Heron Therapeutics and gave the stock a “buy” rating in a research report on Monday, January 15th. BidaskClub raised Heron Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, January 20th. Oppenheimer set a $27.00 target price on Heron Therapeutics and gave the company a “buy” rating in a research report on Thursday, December 14th. Finally, ValuEngine raised Heron Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $34.25.
Shares of NASDAQ HRTX traded down $1.20 during mid-day trading on Monday, hitting $26.40. The stock had a trading volume of 1,731,993 shares, compared to its average volume of 1,296,986. The company has a market cap of $1,784.30, a price-to-earnings ratio of 7.23 and a beta of 1.86. Heron Therapeutics Inc has a twelve month low of $12.70 and a twelve month high of $32.70.
Heron Therapeutics (NASDAQ:HRTX) last announced its quarterly earnings results on Tuesday, February 27th. The biotechnology company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.29). The company had revenue of $10.05 million for the quarter, compared to analyst estimates of $9.00 million. Heron Therapeutics had a negative return on equity of 230.70% and a negative net margin of 641.87%. sell-side analysts predict that Heron Therapeutics Inc will post -2.53 earnings per share for the current year.
In related news, Director Kevin C. Tang purchased 192,308 shares of the business’s stock in a transaction on Thursday, March 29th. The shares were bought at an average cost of $26.00 per share, with a total value of $5,000,008.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Barry D. Quart sold 100,000 shares of the stock in a transaction dated Wednesday, March 14th. The stock was sold at an average price of $24.75, for a total value of $2,475,000.00. Following the sale, the chief executive officer now directly owns 167,993 shares in the company, valued at $4,157,826.75. The disclosure for this sale can be found here. Insiders have sold a total of 225,584 shares of company stock worth $6,141,680 over the last ninety days. 19.93% of the stock is owned by insiders.
Heron Therapeutics Profile
Heron Therapeutics, Inc is a biotechnology company engaged in developing pharmaceutical products for patients suffering from cancer or pain. The Company’s product candidates include SUSTOL, HTX-019 and HTX-011. All of its product candidates utilize science and technology platforms, including its Biochronomer drug delivery technology.
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