Heron Therapeutics, Inc. (NASDAQ:HRTX) is Richmond Brothers Inc.’s 8th Largest Position

Richmond Brothers Inc. increased its stake in shares of Heron Therapeutics, Inc. (NASDAQ:HRTX) by 20.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 356,558 shares of the biotechnology company’s stock after purchasing an additional 59,852 shares during the quarter. Heron Therapeutics makes up approximately 2.5% of Richmond Brothers Inc.’s holdings, making the stock its 8th largest holding. Richmond Brothers Inc.’s holdings in Heron Therapeutics were worth $1,248,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its stake in Heron Therapeutics by 80.7% in the 1st quarter. BNP Paribas Financial Markets now owns 51,296 shares of the biotechnology company’s stock worth $142,000 after buying an additional 22,904 shares during the last quarter. Orchard Capital Management LLC lifted its stake in shares of Heron Therapeutics by 4.7% in the 4th quarter. Orchard Capital Management LLC now owns 2,243,426 shares of the biotechnology company’s stock valued at $3,814,000 after purchasing an additional 100,603 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of Heron Therapeutics by 51.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 40,705 shares of the biotechnology company’s stock valued at $113,000 after purchasing an additional 13,811 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Heron Therapeutics in the 1st quarter valued at about $32,000. Finally, SG Americas Securities LLC acquired a new position in shares of Heron Therapeutics in the 2nd quarter valued at about $694,000. Hedge funds and other institutional investors own 80.01% of the company’s stock.

Heron Therapeutics Stock Performance

Shares of NASDAQ:HRTX opened at $1.95 on Thursday. The company has a market cap of $293.77 million, a P/E ratio of -3.20 and a beta of 1.80. Heron Therapeutics, Inc. has a one year low of $0.50 and a one year high of $3.93. The business’s 50-day simple moving average is $2.38 and its 200 day simple moving average is $2.79.

Heron Therapeutics (NASDAQ:HRTX) last announced its earnings results on Tuesday, August 6th. The biotechnology company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The company had revenue of $36.02 million during the quarter, compared to analyst estimates of $35.35 million. During the same quarter in the prior year, the firm posted ($0.35) EPS. Analysts predict that Heron Therapeutics, Inc. will post -0.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HRTX. Rodman & Renshaw began coverage on Heron Therapeutics in a research note on Thursday, June 13th. They issued a “buy” rating and a $7.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Heron Therapeutics in a research note on Wednesday, August 7th.

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.