Heron Therapeutics, Inc. $HRTX Shares Acquired by Congress Park Capital LLC

Key Points

• Congress Park Capital LLC increased its stake in Heron Therapeutics, Inc. by 11.4% during Q2, owning approximately $4.70 million worth of shares.
• Several institutional investors have also increased their positions in Heron Therapeutics, with 80.01% of the company’s stock now owned by institutional investors.
• Heron Therapeutics recently faced mixed analyst ratings, with a consensus rating of "Hold" and price targets ranging from $3.00 to $6.00.

Congress Park Capital LLC grew its holdings in shares of Heron Therapeutics, Inc. (NASDAQ:HRTX - Free Report) by 11.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,268,249 shares of the biotechnology company's stock after purchasing an additional 232,632 shares during the quarter. Heron Therapeutics makes up about 1.5% of Congress Park Capital LLC's portfolio, making the stock its 22nd biggest holding. Congress Park Capital LLC owned approximately 1.49% of Heron Therapeutics worth $4,695,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. RFP Financial Group LLC purchased a new position in shares of Heron Therapeutics during the 1st quarter worth $26,000. Valeo Financial Advisors LLC raised its holdings 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 worth $40,000 after acquiring an additional 4,619 shares during the period. Focus Partners Wealth purchased a new position in shares of Heron Therapeutics during the 4th quarter worth $31,000. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Heron Therapeutics by 168.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 27,867 shares of the biotechnology company's stock worth $61,000 after acquiring an additional 17,500 shares during the period. Finally, State of Wyoming raised its holdings in shares of Heron Therapeutics by 573.5% during the 4th quarter. State of Wyoming now owns 29,736 shares of the biotechnology company's stock worth $45,000 after acquiring an additional 25,321 shares during the period. Institutional investors and hedge funds own 80.01% of the company's stock.

Insider Transactions at Heron Therapeutics

In related news, major shareholder Rubric Capital Management Lp acquired 2,387,225 shares of the stock in a transaction dated Friday, August 8th. The stock was acquired at an average cost of $1.50 per share, with a total value of $3,580,837.50. Following the completion of the transaction, the insider owned 29,100,728 shares in the company, valued at $43,651,092. This represents a 8.94% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Adam Morgan acquired 1,766,546 shares of the stock in a transaction dated Friday, August 8th. The shares were bought at an average cost of $1.50 per share, with a total value of $2,649,819.00. Following the completion of the transaction, the director owned 8,753,290 shares of the company's stock, valued at approximately $13,129,935. This represents a 25.28% increase in their position. The disclosure for this purchase can be found here. 5.86% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

HRTX has been the topic of several analyst reports. Zacks Research upgraded Heron Therapeutics to a "strong sell" rating in a report on Tuesday, August 12th. HC Wainwright initiated coverage on Heron Therapeutics in a report on Monday, June 9th. They set a "buy" rating and a $6.00 price target on the stock. Needham & Company LLC reduced their price target on Heron Therapeutics from $4.00 to $3.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Finally, Wall Street Zen lowered Heron Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $4.50.

Heron Therapeutics Stock Down 2.7%

NASDAQ:HRTX traded down $0.04 on Tuesday, reaching $1.27. 713,039 shares of the company's stock were exchanged, compared to its average volume of 1,661,419. The firm has a market capitalization of $231.90 million, a price-to-earnings ratio of -63.25 and a beta of 1.23. The business has a fifty day moving average of $1.52 and a 200-day moving average of $1.89. 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 issued its quarterly earnings results on Friday, August 8th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). The business had revenue of $37.20 million for the quarter, compared to the consensus estimate of $38.08 million. Heron Therapeutics has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Heron Therapeutics, Inc. will post -0.13 earnings per share for the current year.

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.