Informed Momentum Co LLC Buys New Position in Heron Therapeutics, Inc. (NASDAQ:HRTX)

Key Points

• Informed Momentum Co LLC has invested $768,000 in Heron Therapeutics, acquiring 349,000 shares, which represents approximately 0.23% of the company.
• Recent analyst ratings have been mixed, with Needham & Company lowering their price target from $4.00 to $3.00 while HC Wainwright set a new price target of $6.00.
• Insider transactions have seen Director Adam Morgan purchase 1,766,546 shares at an average price of $1.50, increasing their stake by 25.28%.

Informed Momentum Co LLC purchased a new position in shares of Heron Therapeutics, Inc. (NASDAQ:HRTX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 349,000 shares of the biotechnology company's stock, valued at approximately $768,000. Informed Momentum Co LLC owned approximately 0.23% of Heron Therapeutics as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. RFP Financial Group LLC purchased a new position in Heron Therapeutics during the first quarter worth about $26,000. Valeo Financial Advisors LLC grew its position in Heron Therapeutics by 34.1% during the first quarter. Valeo Financial Advisors LLC now owns 18,152 shares of the biotechnology company's stock worth $40,000 after buying an additional 4,619 shares during the period. Focus Partners Wealth acquired a new position in Heron Therapeutics during the fourth quarter worth about $31,000. Cambridge Investment Research Advisors Inc. grew its position 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 buying an additional 17,500 shares during the period. Finally, State of Wyoming grew its position in Heron Therapeutics by 573.5% during the fourth quarter. State of Wyoming now owns 29,736 shares of the biotechnology company's stock worth $45,000 after buying an additional 25,321 shares during the period. 80.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Heron Therapeutics

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

Heron Therapeutics Trading Down 1.5%

Shares of HRTX stock traded down $0.02 during trading hours on Friday, hitting $1.33. The company's stock had a trading volume of 1,780,279 shares, compared to its average volume of 1,685,491. The stock has a market cap of $203.88 million, a price-to-earnings ratio of -66.50 and a beta of 1.15. The business has a fifty day moving average of $1.94 and a 200-day moving average of $2.00. Heron Therapeutics, Inc. has a twelve month low of $1.04 and a twelve month high of $2.68.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The company had revenue of $37.20 million for the quarter, compared to analyst estimates of $38.08 million. On average, equities analysts expect that Heron Therapeutics, Inc. will post -0.13 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on HRTX. Zacks Research upgraded shares of Heron Therapeutics to a "strong sell" rating in a research report on Tuesday. Wall Street Zen lowered shares of Heron Therapeutics from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Needham & Company LLC lowered their target price on shares of Heron Therapeutics from $4.00 to $3.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Finally, HC Wainwright started coverage on shares of Heron Therapeutics in a research report on Monday, June 9th. They issued a "buy" rating and a $6.00 price target on the stock.

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.