Traders Buy High Volume of Put Options on Heron Therapeutics (NASDAQ:HRTX)

Heron Therapeutics, Inc. (NASDAQ:HRTX) was the target of unusually large options trading on Tuesday. Traders acquired 10,913 put options on the stock. This represents an increase of 1,680% compared to the average daily volume of 613 put options.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Heron Therapeutics by 15.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,922 shares of the biotechnology company’s stock valued at $83,000 after purchasing an additional 3,991 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Heron Therapeutics by 30.2% during the 4th quarter. Victory Capital Management Inc. now owns 19,929 shares of the biotechnology company’s stock valued at $34,000 after buying an additional 4,617 shares during the period. Commonwealth Equity Services LLC lifted its position in Heron Therapeutics by 3.1% in the first quarter. Commonwealth Equity Services LLC now owns 338,526 shares of the biotechnology company’s stock worth $938,000 after buying an additional 10,122 shares during the last quarter. Headlands Technologies LLC purchased a new position in Heron Therapeutics during the first quarter worth $30,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Heron Therapeutics during the first quarter valued at $32,000. Hedge funds and other institutional investors own 80.01% of the company’s stock.

Heron Therapeutics Stock Performance

HRTX stock opened at $2.77 on Thursday. The firm has a fifty day moving average price of $3.20 and a 200 day moving average price of $2.72. Heron Therapeutics has a fifty-two week low of $0.50 and a fifty-two week high of $3.93. The firm has a market cap of $417.31 million, a PE ratio of -4.54 and a beta of 1.80.

Heron Therapeutics (NASDAQ:HRTX) last issued its quarterly earnings data on Tuesday, May 7th. The biotechnology company reported ($0.02) 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 analysts’ expectations of $32.50 million. On average, equities analysts predict that Heron Therapeutics will post -0.1 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.