10,550,750 Shares in Heron Therapeutics, Inc. $HRTX Bought by BlackRock Inc.

Key Points

• BlackRock acquired 10.55 million Heron Therapeutics shares in the second quarter, worth approximately $4.5 million and representing about 5.57% of the company. Institutional investors collectively own 80.01% of HRTX.
• Analyst sentiment is largely cautious: Heron has a consensus “Hold” rating from five analysts, with an average price target of $2.00; recent reports included downgrades to Hold, Neutral, and Sell.
• HRTX opened at $0.34, near its 52-week low of $0.30, while the company reported a quarterly loss of $0.03 per share and revenue of $37.67 million, below the $42.19 million analyst estimate.

BlackRock Inc. acquired a new position in Heron Therapeutics, Inc. (NASDAQ:HRTX - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,550,750 shares of the biotechnology company's stock, valued at approximately $4,503,000. BlackRock Inc. owned approximately 5.57% of Heron Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of HRTX. Orbimed Advisors LLC acquired a new stake in shares of Heron Therapeutics in the first quarter valued at about $7,855,000. Clearline Capital LP grew its position in Heron Therapeutics by 26.0% during the fourth quarter. Clearline Capital LP now owns 12,235,239 shares of the biotechnology company's stock worth $15,906,000 after buying an additional 2,522,712 shares during the period. Pale Fire Capital SE grew its position in Heron Therapeutics by 84.8% during the first quarter. Pale Fire Capital SE now owns 2,716,328 shares of the biotechnology company's stock worth $2,173,000 after buying an additional 1,246,673 shares during the period. Bank of America Corp DE increased its holdings in Heron Therapeutics by 19.7% in the first quarter. Bank of America Corp DE now owns 160,979 shares of the biotechnology company's stock valued at $129,000 after buying an additional 26,534 shares in the last quarter. Finally, Deutsche Bank AG purchased a new position in Heron Therapeutics in the second quarter valued at about $41,000. Institutional investors and hedge funds own 80.01% of the company's stock.

Analysts Set New Price Targets

HRTX has been the subject of a number of research reports. HC Wainwright downgraded shares of Heron Therapeutics from a "buy" rating to a "neutral" rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded Heron Therapeutics to a "sell" rating in a report on Saturday, August 8th. Needham & Company LLC downgraded Heron Therapeutics from a "buy" rating to a "hold" rating in a research note on Tuesday, June 2nd. Zacks Research raised Heron Therapeutics from a "strong sell" rating to a "hold" rating in a report on Monday, August 3rd. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Heron Therapeutics in a research report on Friday, July 17th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Heron Therapeutics presently has a consensus rating of "Hold" and an average target price of $2.00.

Heron Therapeutics Stock Performance

Heron Therapeutics stock opened at $0.34 on Friday. Heron Therapeutics, Inc. has a fifty-two week low of $0.30 and a fifty-two week high of $1.57. The company has a market capitalization of $65.29 million, a price-to-earnings ratio of -1.81 and a beta of 1.61. The stock has a fifty day moving average of $0.41 and a two-hundred day moving average of $0.70. The company has a debt-to-equity ratio of 24.35, a quick ratio of 1.51 and a current ratio of 2.49.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last released its earnings results on Monday, August 10th. The biotechnology company reported ($0.03) earnings per share (EPS) for the quarter. Heron Therapeutics had a negative net margin of 22.52% and a negative return on equity of 293.02%. The firm had revenue of $37.67 million during the quarter, compared to analysts' expectations of $42.19 million. On average, analysts anticipate that Heron Therapeutics, Inc. will post -0.14 EPS for the current fiscal year.

Heron Therapeutics Company Profile

Heron Therapeutics, Inc is a commercial-stage biotechnology company focused on developing and commercializing therapies in pain management and supportive care for patients undergoing medical and surgical procedures. The company's research is dedicated to addressing unmet needs in oncology supportive care and post-operative pain management through innovative drug formulations designed to improve patient outcomes and reduce reliance on opioids.

Heron's first approved therapy, SUSTOL (granisetron) extended-release injection, received U.S.

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