Jefferies Financial Group Inc. Takes Position in Heron Therapeutics, Inc. (NASDAQ:HRTX)

Key Points

• Jefferies Financial Group Inc. has invested approximately $710,000 in Heron Therapeutics by purchasing 322,600 shares in the 1st quarter, holding 0.21% of the company at quarter-end.
• Several institutional investors have recently increased their stakes in Heron Therapeutics, with ownership among them reaching 80.01% of the company's stock.
• Wall Street analysts have raised their ratings on Heron Therapeutics, with some setting price targets of $4.00 and $6.00 for the stock, reflecting positive growth expectations.

Jefferies Financial Group Inc. acquired a new stake in Heron Therapeutics, Inc. (NASDAQ:HRTX - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 322,600 shares of the biotechnology company's stock, valued at approximately $710,000. Jefferies Financial Group Inc. owned 0.21% of Heron Therapeutics as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. RFP Financial Group LLC acquired a new position in shares of Heron Therapeutics in the 1st quarter valued at approximately $26,000. Focus Partners Wealth acquired a new position in shares of Heron Therapeutics in the 4th quarter valued at approximately $31,000. Valeo Financial Advisors LLC boosted its position in 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 last quarter. State of Wyoming boosted its position in 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 last quarter. Finally, ProShare Advisors LLC boosted its position in Heron Therapeutics by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 33,063 shares of the biotechnology company's stock worth $51,000 after acquiring an additional 10,880 shares during the last quarter. 80.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HRTX. HC Wainwright began coverage on Heron Therapeutics in a research report on Monday, June 9th. They set a "buy" rating and a $6.00 price target for the company. Wall Street Zen upgraded Heron Therapeutics from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $4.00 price objective on shares of Heron Therapeutics in a research note on Friday, April 11th.

Heron Therapeutics Price Performance

NASDAQ:HRTX traded up $0.03 during trading hours on Thursday, hitting $1.84. The company's stock had a trading volume of 1,146,022 shares, compared to its average volume of 922,306. The stock has a fifty day simple moving average of $2.01 and a 200-day simple moving average of $2.01. The company has a market capitalization of $280.71 million, a P/E ratio of -30.67 and a beta of 1.15. 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 released its quarterly earnings data on Tuesday, May 6th. The biotechnology company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.02. The business had revenue of $38.90 million during the quarter, compared to analyst estimates of $37.08 million. On average, equities analysts predict that Heron Therapeutics, Inc. will post -0.13 EPS for the current fiscal 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.