Tang Capital Management LLC Buys 290,271 Shares of Heron Therapeutics, Inc. (NASDAQ:HRTX)

Tang Capital Management LLC increased its position in shares of Heron Therapeutics, Inc. (NASDAQ:HRTX - Free Report) by 15.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,140,271 shares of the biotechnology company's stock after buying an additional 290,271 shares during the quarter. Tang Capital Management LLC owned 1.41% of Heron Therapeutics worth $3,275,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of HRTX. Nicolet Advisory Services LLC bought a new position in shares of Heron Therapeutics during the 4th quarter worth approximately $25,000. Argent Advisors Inc. bought a new stake in shares of Heron Therapeutics in the fourth quarter worth $31,000. Focus Partners Wealth bought a new stake in shares of Heron Therapeutics in the fourth quarter worth $31,000. Cutter & CO Brokerage Inc. lifted its position in shares of Heron Therapeutics by 69.6% in the fourth quarter. Cutter & CO Brokerage Inc. now owns 33,135 shares of the biotechnology company's stock worth $51,000 after purchasing an additional 13,600 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in Heron Therapeutics by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 33,063 shares of the biotechnology company's stock valued at $51,000 after buying an additional 10,880 shares during the last quarter. Institutional investors and hedge funds own 80.01% of the company's stock.

Heron Therapeutics Price Performance

HRTX stock traded down $0.04 during midday trading on Wednesday, hitting $1.88. The company's stock had a trading volume of 946,733 shares, compared to its average volume of 2,293,758. Heron Therapeutics, Inc. has a twelve month low of $1.04 and a twelve month high of $3.93. The company's fifty day moving average price is $2.12 and its 200 day moving average price is $1.82. The stock has a market capitalization of $286.82 million, a P/E ratio of -10.44 and a beta of 1.33.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last issued its earnings results on Tuesday, May 6th. The biotechnology company reported $0.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.01) by $0.02. The firm had revenue of $38.90 million during the quarter, compared to the consensus estimate of $37.08 million. Equities analysts expect that Heron Therapeutics, Inc. will post -0.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

HRTX has been the topic of several recent research reports. Needham & Company LLC reiterated a "buy" rating and issued a $4.00 price target on shares of Heron Therapeutics in a research note on Friday, April 11th. StockNews.com lowered shares of Heron Therapeutics from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th.

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.