Acadian Asset Management LLC Buys Shares of 36,462 Heron Therapeutics, Inc. (NASDAQ:HRTX)

Acadian Asset Management LLC purchased a new position in shares of Heron Therapeutics, Inc. (NASDAQ:HRTX) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 36,462 shares of the biotechnology company’s stock, valued at approximately $127,000.

A number of other large investors have also modified their holdings of the company. Victory Capital Management Inc. boosted its stake 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 purchasing an additional 4,617 shares during the period. Panagora Asset Management Inc. acquired a new position in shares of Heron Therapeutics during the fourth quarter worth approximately $236,000. Orchard Capital Management LLC boosted its position in shares of Heron Therapeutics by 4.7% during the fourth quarter. Orchard Capital Management LLC now owns 2,243,426 shares of the biotechnology company’s stock worth $3,814,000 after buying an additional 100,603 shares during the period. Diversified Trust Co bought a new position in Heron Therapeutics in the 1st quarter worth approximately $66,000. Finally, Commonwealth Equity Services LLC increased its position in Heron Therapeutics by 3.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 338,526 shares of the biotechnology company’s stock valued at $938,000 after acquiring an additional 10,122 shares during the period. Institutional investors and hedge funds own 80.01% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Heron Therapeutics Price Performance

NASDAQ HRTX opened at $2.06 on Friday. Heron Therapeutics, Inc. has a 12 month low of $0.50 and a 12 month high of $3.93. The firm has a market capitalization of $310.35 million, a PE ratio of -3.38 and a beta of 1.80. The company’s 50 day simple moving average is $2.33 and its 200 day simple moving average is $2.77.

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

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.