Pekin Hardy Strauss Inc. Cuts Stock Position in Heron Therapeutics, Inc. (NASDAQ:HRTX)

Pekin Hardy Strauss Inc. lessened its position in shares of Heron Therapeutics, Inc. (NASDAQ:HRTX) by 39.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,170 shares of the biotechnology company’s stock after selling 10,000 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Heron Therapeutics were worth $30,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Marshall Wace LLP boosted its stake in Heron Therapeutics by 256.2% in the 2nd quarter. Marshall Wace LLP now owns 1,761,051 shares of the biotechnology company’s stock worth $6,164,000 after purchasing an additional 1,266,697 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Heron Therapeutics by 1,460.9% during the second quarter. AQR Capital Management LLC now owns 607,135 shares of the biotechnology company’s stock worth $2,125,000 after purchasing an additional 568,238 shares during the last quarter. Congress Park Capital LLC lifted its position in Heron Therapeutics by 25.3% during the third quarter. Congress Park Capital LLC now owns 1,978,078 shares of the biotechnology company’s stock valued at $3,936,000 after purchasing an additional 399,577 shares during the period. Squarepoint Ops LLC boosted its holdings in Heron Therapeutics by 369.0% in the second quarter. Squarepoint Ops LLC now owns 363,700 shares of the biotechnology company’s stock valued at $1,273,000 after purchasing an additional 286,160 shares during the last quarter. Finally, Legato Capital Management LLC acquired a new stake in Heron Therapeutics during the 2nd quarter worth about $837,000. Hedge funds and other institutional investors own 80.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HRTX. Needham & Company LLC lowered their target price on Heron Therapeutics from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. StockNews.com lowered Heron Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, November 21st.

Heron Therapeutics Stock Performance

Shares of Heron Therapeutics stock opened at $1.14 on Tuesday. The firm has a 50-day simple moving average of $1.74 and a two-hundred day simple moving average of $2.44. Heron Therapeutics, Inc. has a fifty-two week low of $1.04 and a fifty-two week high of $3.93. The company has a market cap of $173.39 million, a P/E ratio of -6.33 and a beta of 1.81.

Heron Therapeutics (NASDAQ:HRTX) last released its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). The business had revenue of $32.81 million during the quarter, compared to analyst estimates of $36.40 million. During the same period in the previous year, the company posted ($0.17) EPS. Equities research analysts forecast that Heron Therapeutics, Inc. will post -0.13 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.