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

Tang Capital Management LLC raised its stake in shares of Heron Therapeutics, Inc. (NASDAQ:HRTX - Free Report) by 15.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,140,271 shares of the biotechnology company's stock after acquiring an additional 290,271 shares during the period. Tang Capital Management LLC owned about 1.41% of Heron Therapeutics worth $3,275,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

HRTX has been the topic of a number of recent analyst reports. Wall Street Zen lowered Heron Therapeutics from a "buy" rating to a "hold" rating in a report on Thursday. Needham & Company LLC reiterated a "buy" rating and set a $4.00 target price on shares of Heron Therapeutics in a research note on Friday, April 11th.

Heron Therapeutics Stock Performance

HRTX traded down $0.05 during midday trading on Friday, reaching $1.83. The company had a trading volume of 255,782 shares, compared to its average volume of 1,725,557. The business has a 50-day moving average price of $2.10 and a two-hundred day moving average price of $1.82. The stock has a market cap of $278.43 million, a PE ratio of -10.14 and a beta of 1.33. Heron Therapeutics, Inc. has a 12-month low of $1.04 and a 12-month high of $3.93.

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 business had revenue of $38.90 million for the quarter, compared to the consensus estimate of $37.08 million. On average, research analysts anticipate 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.