Heron Therapeutics (NASDAQ:HRTX) Shares Up 6.9%

Heron Therapeutics, Inc. (NASDAQ:HRTX) was up 6.9% during trading on Wednesday . The company traded as high as $15.16 and last traded at $14.99. Approximately 54,720 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 2,737,470 shares. The stock had previously closed at $14.02.

Several equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Heron Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, May 11th. Stifel Nicolaus reiterated a “buy” rating and set a $27.00 target price on shares of Heron Therapeutics in a research report on Thursday, May 13th.

The firm has a 50-day moving average of $15.91. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -6.06 and a beta of 1.39.

Heron Therapeutics (NASDAQ:HRTX) last issued its quarterly earnings results on Monday, May 10th. The biotechnology company reported ($0.58) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.57) by ($0.01). Heron Therapeutics had a negative return on equity of 88.33% and a negative net margin of 274.23%. The business had revenue of $20.10 million for the quarter, compared to analyst estimates of $26.00 million. During the same quarter in the prior year, the company earned ($0.65) EPS. As a group, analysts expect that Heron Therapeutics, Inc. will post -2.2 earnings per share for the current year.

In related news, EVP Kimberly Manhard sold 1,529 shares of the firm’s stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $17.66, for a total transaction of $27,002.14. Following the transaction, the executive vice president now owns 3,163 shares of the company’s stock, valued at $55,858.58. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 2,079 shares of company stock valued at $36,560 in the last quarter. Insiders own 12.85% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its stake in shares of Heron Therapeutics by 3.6% in the 1st quarter. BlackRock Inc. now owns 7,137,310 shares of the biotechnology company’s stock valued at $115,697,000 after purchasing an additional 250,378 shares during the last quarter. Clearbridge Investments LLC grew its position in Heron Therapeutics by 0.5% in the 4th quarter. Clearbridge Investments LLC now owns 3,454,206 shares of the biotechnology company’s stock valued at $73,108,000 after buying an additional 18,181 shares during the last quarter. JPMorgan Chase & Co. grew its position in Heron Therapeutics by 5.6% in the 1st quarter. JPMorgan Chase & Co. now owns 3,273,121 shares of the biotechnology company’s stock valued at $53,058,000 after buying an additional 172,339 shares during the last quarter. Oak Ridge Investments LLC increased its stake in Heron Therapeutics by 690.6% in the 1st quarter. Oak Ridge Investments LLC now owns 2,106,218 shares of the biotechnology company’s stock valued at $34,142,000 after buying an additional 1,839,803 shares during the period. Finally, PFM Health Sciences LP raised its position in Heron Therapeutics by 7.5% during the 4th quarter. PFM Health Sciences LP now owns 2,011,477 shares of the biotechnology company’s stock worth $42,573,000 after buying an additional 139,465 shares during the last quarter. 88.99% of the stock is owned by institutional investors.

Heron Therapeutics Company Profile (NASDAQ:HRTX)

Heron Therapeutics, Inc, a biotechnology company, engages in developing treatments to address unmet medical needs. 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.

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