Heron Therapeutics Sees Unusually High Options Volume (NASDAQ:HRTX)

Heron Therapeutics, Inc. (NASDAQ:HRTX) saw unusually large options trading activity on Tuesday. Stock investors acquired 10,913 put options on the stock. This is an increase of 1,680% compared to the typical volume of 613 put options.

Institutional Investors Weigh In On Heron Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new stake in shares of Heron Therapeutics during the 1st quarter worth about $30,000. Susquehanna Fundamental Investments LLC acquired a new stake in Heron Therapeutics during the first quarter worth approximately $32,000. Victory Capital Management Inc. boosted its holdings in shares of Heron Therapeutics by 30.2% during the fourth quarter. Victory Capital Management Inc. now owns 19,929 shares of the biotechnology company’s stock worth $34,000 after acquiring an additional 4,617 shares during the period. ACT Advisors LLC. acquired a new position in shares of Heron Therapeutics in the fourth quarter valued at approximately $38,000. Finally, Diversified Trust Co bought a new position in shares of Heron Therapeutics during the first quarter worth approximately $66,000. Institutional investors and hedge funds own 80.01% of the company’s stock.

Heron Therapeutics Price Performance

Heron Therapeutics stock opened at $2.74 on Wednesday. The company’s 50-day moving average is $3.20 and its 200-day moving average is $2.72. The firm has a market capitalization of $412.78 million, a PE ratio of -4.49 and a beta of 1.80. Heron Therapeutics has a fifty-two week low of $0.50 and a fifty-two week high of $3.93.

Heron Therapeutics (NASDAQ:HRTX) last released its quarterly earnings data on Tuesday, May 7th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.06. The business had revenue of $34.67 million during the quarter, compared to the consensus estimate of $32.50 million. As a group, analysts expect that Heron Therapeutics will post -0.1 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HRTX. Capital One Financial began coverage on shares of Heron Therapeutics in a report on Tuesday, April 23rd. They set an “overweight” rating and a $6.00 target price for the company. Rodman & Renshaw assumed coverage on Heron Therapeutics in a research report on Thursday, June 13th. They issued a “buy” rating and a $7.00 target price on the stock. Finally, Needham & Company LLC reissued a “buy” rating and set a $5.00 price target on shares of Heron Therapeutics in a research report on Thursday, May 16th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Heron Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $6.00.

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.