Point72 Asset Management L.P. Purchases Shares of 3,075,809 Heron Therapeutics, Inc. (NASDAQ:HRTX)

Point72 Asset Management L.P. purchased a new stake in Heron Therapeutics, Inc. (NASDAQ:HRTX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,075,809 shares of the biotechnology company's stock, valued at approximately $4,706,000. Point72 Asset Management L.P. owned 2.02% of Heron Therapeutics at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in Heron Therapeutics by 295.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 206,711 shares of the biotechnology company's stock valued at $411,000 after purchasing an additional 154,487 shares during the period. Raymond James Financial Inc. bought a new position in shares of Heron Therapeutics during the 4th quarter worth about $208,000. Principal Financial Group Inc. lifted its holdings in shares of Heron Therapeutics by 10.6% during the 4th quarter. Principal Financial Group Inc. now owns 113,560 shares of the biotechnology company's stock worth $174,000 after acquiring an additional 10,909 shares during the period. Bridgeway Capital Management LLC bought a new position in shares of Heron Therapeutics during the 4th quarter worth about $459,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of Heron Therapeutics by 22.2% during the 4th 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 period. 80.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on HRTX. Needham & Company LLC reaffirmed a "buy" rating and set a $4.00 price objective on shares of Heron Therapeutics in a report on Friday, April 11th. StockNews.com downgraded shares of Heron Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday, March 8th.

Heron Therapeutics Stock Down 2.5%

Shares of HRTX stock opened at $1.92 on Tuesday. Heron Therapeutics, Inc. has a 12-month low of $1.04 and a 12-month high of $3.93. The company has a market capitalization of $292.92 million, a P/E ratio of -10.67 and a beta of 1.33. The firm has a 50-day moving average price of $2.13 and a 200 day moving average price of $1.82.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $38.90 million for the quarter, compared to the consensus estimate of $37.08 million. As a group, 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.

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