Tang Capital Management LLC Acquires 290,271 Shares of Heron Therapeutics, Inc. (NASDAQ:HRTX)

Tang Capital Management LLC lifted its holdings in shares of Heron Therapeutics, Inc. (NASDAQ:HRTX) by 15.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,140,271 shares of the biotechnology company’s stock after purchasing an additional 290,271 shares during the period. Tang Capital Management LLC’s holdings in Heron Therapeutics were worth $3,275,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nicolet Advisory Services LLC bought a new position in shares of Heron Therapeutics during the 4th quarter valued at $25,000. Argent Advisors Inc. bought a new position in shares of Heron Therapeutics during the 4th quarter valued at $31,000. Focus Partners Wealth bought a new position in shares of Heron Therapeutics during the 4th quarter valued at $31,000. Cutter & CO Brokerage Inc. grew its holdings in Heron Therapeutics by 69.6% in the 4th quarter. Cutter & CO Brokerage Inc. now owns 33,135 shares of the biotechnology company’s stock worth $51,000 after acquiring an additional 13,600 shares during the last quarter. Finally, ProShare Advisors LLC grew its holdings in Heron Therapeutics by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 33,063 shares of the biotechnology company’s stock worth $51,000 after acquiring an additional 10,880 shares during the last quarter. Institutional investors own 80.01% of the company’s stock.

Heron Therapeutics Stock Up 5.3%

Shares of Heron Therapeutics stock opened at $1.97 on Friday. The firm has a market cap of $300.55 million, a PE ratio of -10.94 and a beta of 1.33. Heron Therapeutics, Inc. has a 12-month low of $1.04 and a 12-month high of $3.93. The company’s fifty day simple moving average is $2.14 and its two-hundred day simple moving average is $1.82.

Heron Therapeutics (NASDAQ:HRTX) last posted its 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 company had revenue of $38.90 million during the quarter, compared to analysts’ expectations of $37.08 million. As a group, sell-side analysts expect that Heron Therapeutics, Inc. will post -0.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on HRTX shares. StockNews.com lowered shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Needham & Company LLC reissued a “buy” rating and issued a $4.00 price target on shares of Heron Therapeutics in a report on Friday, April 11th.

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.