Point72 Asset Management L.P. Purchases New Position in Heron Therapeutics, Inc. (NASDAQ:HRTX)

Point72 Asset Management L.P. purchased a new stake in shares of Heron Therapeutics, Inc. (NASDAQ:HRTX) in the 4th quarter, Holdings Channel reports. The fund purchased 3,075,809 shares of the biotechnology company’s stock, valued at approximately $4,706,000.

Other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in shares of Heron Therapeutics by 295.8% in the third quarter. JPMorgan Chase & Co. now owns 206,711 shares of the biotechnology company’s stock worth $411,000 after acquiring an additional 154,487 shares during the last quarter. Arkadios Wealth Advisors bought a new position in shares of Heron Therapeutics in the fourth quarter worth about $76,000. Capital Planning Advisors LLC raised its stake in shares of Heron Therapeutics by 41.0% in the fourth quarter. Capital Planning Advisors LLC now owns 106,565 shares of the biotechnology company’s stock worth $163,000 after acquiring an additional 31,003 shares during the last quarter. Apeiron RIA LLC raised its stake in shares of Heron Therapeutics by 7.8% in the fourth quarter. Apeiron RIA LLC now owns 262,542 shares of the biotechnology company’s stock worth $402,000 after acquiring an additional 19,000 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Heron Therapeutics by 10.6% in the fourth quarter. Principal Financial Group Inc. now owns 113,560 shares of the biotechnology company’s stock worth $174,000 after acquiring an additional 10,909 shares during the last quarter. 80.01% of the stock is owned by institutional investors.

Heron Therapeutics Price Performance

Shares of NASDAQ:HRTX opened at $1.92 on Tuesday. Heron Therapeutics, Inc. has a one year low of $1.04 and a one year high of $3.93. The company has a 50 day moving average of $2.13 and a 200-day moving average of $1.82. The stock has a market cap of $292.92 million, a price-to-earnings ratio of -10.67 and a beta of 1.33.

Heron Therapeutics (NASDAQ:HRTX) last issued its quarterly earnings results on Tuesday, May 6th. The biotechnology company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.02. The business had revenue of $38.90 million for the quarter, compared to analyst estimates of $37.08 million. Equities research analysts anticipate that Heron Therapeutics, Inc. will post -0.13 earnings per share for the current year.

Wall Street Analyst Weigh In

HRTX has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $4.00 target price on shares of Heron Therapeutics in a research note on Friday, April 11th. StockNews.com downgraded shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th.

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.