Wealth Alliance increased its holdings in Heron Therapeutics, Inc. (NASDAQ:HRTX – Free Report) by 60.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,000 shares of the biotechnology company’s stock after acquiring an additional 12,000 shares during the period. Wealth Alliance’s holdings in Heron Therapeutics were worth $112,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. nVerses Capital LLC bought a new position in Heron Therapeutics in the 2nd quarter valued at $27,000. HB Wealth Management LLC purchased a new position in shares of Heron Therapeutics in the 2nd quarter worth about $35,000. Headlands Technologies LLC bought a new position in Heron Therapeutics during the first quarter valued at about $30,000. Susquehanna Fundamental Investments LLC purchased a new stake in Heron Therapeutics during the first quarter worth about $32,000. Finally, Valeo Financial Advisors LLC bought a new stake in Heron Therapeutics in the second quarter worth about $45,000. 80.01% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts have weighed in on HRTX shares. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 target price on shares of Heron Therapeutics in a research note on Wednesday, August 7th. Rodman & Renshaw started coverage on shares of Heron Therapeutics in a report on Thursday, June 13th. They issued a “buy” rating and a $7.00 price target on the stock.
Heron Therapeutics Stock Performance
HRTX stock opened at $2.06 on Friday. Heron Therapeutics, Inc. has a fifty-two week low of $0.50 and a fifty-two week high of $3.93. The stock has a fifty day moving average of $2.33 and a 200-day moving average of $2.77. The company has a market capitalization of $310.35 million, a price-to-earnings ratio of -3.38 and a beta of 1.80.
Heron Therapeutics (NASDAQ:HRTX – Get Free Report) last issued its earnings results on Tuesday, August 6th. The biotechnology company reported ($0.06) earnings per share 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 analysts’ expectations of $35.35 million. During the same period in the previous year, the company earned ($0.35) EPS. Equities analysts predict that Heron Therapeutics, Inc. will post -0.1 EPS for the current 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.
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