Los Angeles Capital Management LLC Lowers Stock Position in Heron Therapeutics, Inc. (NASDAQ:HRTX)

Los Angeles Capital Management LLC trimmed its holdings in Heron Therapeutics, Inc. (NASDAQ:HRTX) by 51.6% during the second quarter, HoldingsChannel.com reports. The fund owned 238,899 shares of the biotechnology company’s stock after selling 254,365 shares during the period. Los Angeles Capital Management LLC’s holdings in Heron Therapeutics were worth $836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of HRTX. nVerses Capital LLC acquired a new position in Heron Therapeutics in the second quarter valued at $27,000. Headlands Technologies LLC acquired a new stake in shares of Heron Therapeutics in the 1st quarter worth $30,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Heron Therapeutics in the 1st quarter worth $32,000. Victory Capital Management Inc. boosted its holdings in shares of Heron Therapeutics by 30.2% in the fourth quarter. Victory Capital Management Inc. now owns 19,929 shares of the biotechnology company’s stock valued at $34,000 after acquiring an additional 4,617 shares in the last quarter. Finally, HB Wealth Management LLC acquired a new position in shares of Heron Therapeutics during the second quarter worth about $35,000. Hedge funds and other institutional investors own 80.01% of the company’s stock.

Heron Therapeutics Stock Up 1.7 %

Shares of HRTX opened at $1.84 on Friday. Heron Therapeutics, Inc. has a 52-week low of $0.50 and a 52-week high of $3.93. The company has a 50-day simple moving average of $2.45 and a 200-day simple moving average of $2.80. The company has a market capitalization of $277.20 million, a PE ratio of -3.02 and a beta of 1.80.

Heron Therapeutics (NASDAQ:HRTX) last issued its earnings results on Tuesday, August 6th. The biotechnology company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The business had revenue of $36.02 million for the quarter, compared to the consensus estimate of $35.35 million. During the same period in the previous year, the business posted ($0.35) earnings per share. On average, research analysts anticipate that Heron Therapeutics, Inc. will post -0.1 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on HRTX. Rodman & Renshaw initiated coverage on Heron Therapeutics in a report on Thursday, June 13th. They issued a “buy” rating and a $7.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and issued a $5.00 price target on shares of Heron Therapeutics in a research note on Wednesday, August 7th.

Heron Therapeutics 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.