Millennium Management LLC Cuts Stake in Heron Therapeutics, Inc. (NASDAQ:HRTX)

Millennium Management LLC lowered its position in Heron Therapeutics, Inc. (NASDAQ:HRTX - Free Report) by 76.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 215,531 shares of the biotechnology company's stock after selling 718,857 shares during the period. Millennium Management LLC owned about 0.14% of Heron Therapeutics worth $330,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of HRTX. Raymond James Financial Inc. bought a new position in shares of Heron Therapeutics in the fourth quarter worth about $208,000. Principal Financial Group Inc. grew its holdings in Heron Therapeutics by 10.6% during the 4th quarter. Principal Financial Group Inc. now owns 113,560 shares of the biotechnology company's stock valued at $174,000 after buying an additional 10,909 shares in the last quarter. Bridgeway Capital Management LLC bought a new stake in shares of Heron Therapeutics during the fourth quarter valued at approximately $459,000. JPMorgan Chase & Co. lifted its holdings in shares of Heron Therapeutics by 172.2% in the fourth quarter. JPMorgan Chase & Co. now owns 562,764 shares of the biotechnology company's stock worth $861,000 after buying an additional 356,053 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Heron Therapeutics by 22.2% during the fourth quarter. Wells Fargo & Company MN now owns 74,763 shares of the biotechnology company's stock worth $114,000 after acquiring an additional 13,568 shares during the last quarter. Institutional investors own 80.01% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on HRTX shares. Wall Street Zen upgraded shares of Heron Therapeutics from a "hold" rating to a "buy" rating in a report on Friday, June 6th. HC Wainwright initiated coverage on Heron Therapeutics in a report on Monday. They issued a "buy" rating and a $6.00 target price on the stock. Finally, Needham & Company LLC reissued a "buy" rating and set a $4.00 price target on shares of Heron Therapeutics in a research note on Friday, April 11th.

Heron Therapeutics Price Performance

Shares of NASDAQ:HRTX traded down $0.03 on Thursday, hitting $2.03. 366,930 shares of the company's stock were exchanged, compared to its average volume of 2,229,699. The business's 50 day simple moving average is $2.01 and its two-hundred day simple moving average is $1.88. The stock has a market capitalization of $309.70 million, a price-to-earnings ratio of -11.28 and a beta of 1.16. Heron Therapeutics, Inc. has a 12 month low of $1.04 and a 12 month high of $3.93.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The biotechnology company reported $0.01 earnings per share (EPS) for the quarter, beating 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. Equities analysts forecast that Heron Therapeutics, Inc. will post -0.13 EPS for the current fiscal year.

About Heron Therapeutics

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.