AIGH Capital Management LLC Purchases 231,057 Shares of Heron Therapeutics, Inc. $HRTX

Key Points

• AIGH Capital Management LLC increased its holdings in Heron Therapeutics by 8.3%, buying an additional 231,057 shares, which now represents 2.8% of its portfolio.
• Heron Therapeutics reported a quarterly loss of ($0.02) EPS, falling short of analyst expectations, with revenue of $37.20 million compared to the anticipated $38.08 million.
• Insiders, including a director and a major shareholder, made significant stock purchases on August 8th, acquiring 1,766,546 and 2,387,225 shares respectively, reflecting confidence in the company's potential growth.

AIGH Capital Management LLC boosted its holdings in shares of Heron Therapeutics, Inc. (NASDAQ:HRTX - Free Report) by 8.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,009,257 shares of the biotechnology company's stock after buying an additional 231,057 shares during the period. Heron Therapeutics comprises 2.8% of AIGH Capital Management LLC's portfolio, making the stock its 17th largest holding. AIGH Capital Management LLC owned approximately 1.97% of Heron Therapeutics worth $6,229,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Valeo Financial Advisors LLC boosted its position in shares of Heron Therapeutics by 34.1% during the 1st quarter. Valeo Financial Advisors LLC now owns 18,152 shares of the biotechnology company's stock valued at $40,000 after acquiring an additional 4,619 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Heron Therapeutics by 168.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 27,867 shares of the biotechnology company's stock worth $61,000 after purchasing an additional 17,500 shares during the period. Wealth Alliance LLC acquired a new stake in Heron Therapeutics during the first quarter valued at approximately $70,000. Deutsche Bank AG boosted its holdings in Heron Therapeutics by 43.2% during the first quarter. Deutsche Bank AG now owns 85,610 shares of the biotechnology company's stock valued at $188,000 after purchasing an additional 25,824 shares in the last quarter. Finally, Headlands Technologies LLC grew its stake in shares of Heron Therapeutics by 260.5% in the 1st quarter. Headlands Technologies LLC now owns 92,558 shares of the biotechnology company's stock valued at $204,000 after purchasing an additional 66,886 shares during the period. Institutional investors and hedge funds own 80.01% of the company's stock.

Heron Therapeutics Stock Performance

Heron Therapeutics stock opened at $1.29 on Monday. The firm has a market cap of $236.47 million, a P/E ratio of -64.50 and a beta of 1.25. The business's fifty day moving average is $1.30 and its two-hundred day moving average is $1.76. Heron Therapeutics, Inc. has a 52 week low of $1.04 and a 52 week high of $2.68.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last announced its earnings results on Friday, August 8th. The biotechnology company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). The firm had revenue of $37.20 million during the quarter, compared to the consensus estimate of $38.08 million. Heron Therapeutics has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Heron Therapeutics, Inc. will post -0.13 earnings per share for the current year.

Insider Transactions at Heron Therapeutics

In related news, Director Adam Morgan purchased 1,766,546 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average price of $1.50 per share, with a total value of $2,649,819.00. Following the completion of the acquisition, the director directly owned 8,753,290 shares in the company, valued at approximately $13,129,935. This trade represents a 25.28% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Rubric Capital Management Lp acquired 2,387,225 shares of Heron Therapeutics stock in a transaction on Friday, August 8th. The shares were purchased at an average cost of $1.50 per share, for a total transaction of $3,580,837.50. Following the acquisition, the insider owned 29,100,728 shares in the company, valued at approximately $43,651,092. This represents a 8.94% increase in their position. The disclosure for this purchase can be found here. Insiders own 5.86% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Needham & Company LLC cut their target price on Heron Therapeutics from $4.00 to $3.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Weiss Ratings reissued a "sell (e+)" rating on shares of Heron Therapeutics in a report on Wednesday, October 8th. Zacks Research upgraded shares of Heron Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Tuesday, October 7th. Finally, Wall Street Zen cut shares of Heron Therapeutics from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Heron Therapeutics has an average rating of "Hold" and a consensus price target of $4.50.

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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