Jefferies Financial Group Inc. Buys Shares of 322,600 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. bought a new stake in shares of Heron Therapeutics, Inc. (NASDAQ:HRTX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 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 SEC filing.

Other institutional investors have also recently modified their holdings of the company. Point72 Asset Management L.P. acquired a new stake in Heron Therapeutics in the 4th quarter worth about $4,706,000. AIGH Capital Management LLC acquired a new stake in Heron Therapeutics in the 1st quarter worth about $6,112,000. Palisade Capital Management LP boosted its holdings in Heron Therapeutics by 34.7% in the 1st quarter. Palisade Capital Management LP now owns 5,286,931 shares of the biotechnology company's stock worth $11,631,000 after buying an additional 1,360,542 shares during the last quarter. Stonepine Capital Management LLC acquired a new stake in Heron Therapeutics in the 4th quarter worth about $1,071,000. Finally, New York State Common Retirement Fund boosted its holdings in Heron Therapeutics by 32.7% in the 1st quarter. New York State Common Retirement Fund now owns 1,752,924 shares of the biotechnology company's stock worth $3,856,000 after buying an additional 431,918 shares during the last quarter. 80.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HRTX. HC Wainwright began coverage on Heron Therapeutics in a report on Monday, June 9th. They set a "buy" rating and a $6.00 target price on the stock. Wall Street Zen cut Heron Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Needham & Company LLC lowered their target price on Heron Therapeutics from $4.00 to $3.00 and set a "buy" rating on the stock in a report on Friday.

Heron Therapeutics Price Performance

Shares of HRTX stock traded down $0.52 during trading on Friday, hitting $1.32. 14,953,713 shares of the stock traded hands, compared to its average volume of 938,249. The firm has a market capitalization of $201.38 million, a P/E ratio of -22.00 and a beta of 1.15. The firm's fifty day moving average price is $2.00 and its 200-day moving average price is $2.01. 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 released its quarterly earnings results on Monday, August 11th. The biotechnology company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The firm had revenue of $37.20 million for the quarter, compared to analysts' expectations of $38.08 million. As a group, equities research analysts expect that Heron Therapeutics, Inc. will post -0.13 earnings per share for the current 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.