Stonepine Capital Management LLC Buys Shares of 700,000 Heron Therapeutics, Inc. (NASDAQ:HRTX)

Stonepine Capital Management LLC bought a new position in Heron Therapeutics, Inc. (NASDAQ:HRTX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 700,000 shares of the biotechnology company's stock, valued at approximately $1,071,000. Heron Therapeutics comprises about 0.9% of Stonepine Capital Management LLC's investment portfolio, making the stock its 29th biggest holding. Stonepine Capital Management LLC owned about 0.46% of Heron Therapeutics at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Point72 Asset Management L.P. purchased a new position in shares of Heron Therapeutics in the fourth quarter valued at $4,706,000. Tang Capital Management LLC lifted its position in Heron Therapeutics by 15.7% during the fourth quarter. Tang Capital Management LLC now owns 2,140,271 shares of the biotechnology company's stock valued at $3,275,000 after purchasing an additional 290,271 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of Heron Therapeutics by 3.2% in the 4th quarter. New York State Common Retirement Fund now owns 1,321,006 shares of the biotechnology company's stock worth $2,021,000 after buying an additional 41,062 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Heron Therapeutics by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,105,803 shares of the biotechnology company's stock worth $1,692,000 after buying an additional 9,418 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Heron Therapeutics by 9.5% during the 4th quarter. Bank of America Corp DE now owns 1,046,790 shares of the biotechnology company's stock valued at $1,602,000 after buying an additional 90,862 shares in the last quarter. 80.01% of the stock is currently owned by hedge funds and other institutional investors.

Heron Therapeutics Stock Performance

HRTX traded down $0.05 during trading on Friday, hitting $1.83. 255,782 shares of the stock were exchanged, compared to its average volume of 1,725,557. The firm has a 50 day simple moving average of $2.10 and a 200 day simple moving average of $1.82. The firm has a market cap of $278.43 million, a price-to-earnings ratio of -10.14 and a beta of 1.33. Heron Therapeutics, Inc. has a 1 year low of $1.04 and a 1 year high of $3.93.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The biotechnology company reported $0.01 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 analysts' expectations of $37.08 million. As a group, equities analysts anticipate that Heron Therapeutics, Inc. will post -0.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HRTX has been the subject of several recent analyst reports. Wall Street Zen lowered shares of Heron Therapeutics from a "buy" rating to a "hold" rating in a research note on Thursday. Needham & Company LLC reaffirmed 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 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.