TD Asset Management Inc Acquires New Holdings in Heron Therapeutics, Inc. (NASDAQ:HRTX)

Key Points

• TD Asset Management Inc has invested approximately $868,000 in Heron Therapeutics by acquiring 394,600 shares, representing 0.26% of the company's stock.
• Several institutional investors increased their stakes in Heron Therapeutics, leading to 80.01% of the company's stock being owned by institutional investors and hedge funds.
• Heron Therapeutics reported a quarterly earnings beat with earnings per share of $0.01, exceeding expectations and showing revenue of $38.90 million, compared to the anticipated $37.08 million.

TD Asset Management Inc acquired a new position in shares of Heron Therapeutics, Inc. (NASDAQ:HRTX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 394,600 shares of the biotechnology company's stock, valued at approximately $868,000. TD Asset Management Inc owned approximately 0.26% of Heron Therapeutics at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. RFP Financial Group LLC acquired a new stake in shares of Heron Therapeutics during the 1st quarter valued at approximately $26,000. Focus Partners Wealth acquired a new position in Heron Therapeutics during the fourth quarter worth $31,000. Valeo Financial Advisors LLC raised its holdings in Heron Therapeutics by 34.1% during the first quarter. Valeo Financial Advisors LLC now owns 18,152 shares of the biotechnology company's stock worth $40,000 after purchasing an additional 4,619 shares during the last quarter. State of Wyoming boosted its position in Heron Therapeutics by 573.5% during the fourth quarter. State of Wyoming now owns 29,736 shares of the biotechnology company's stock worth $45,000 after purchasing an additional 25,321 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in Heron Therapeutics by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 33,063 shares of the biotechnology company's stock valued at $51,000 after purchasing an additional 10,880 shares during the last quarter. Hedge funds and other institutional investors own 80.01% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on HRTX shares. Needham & Company LLC restated a "buy" rating and issued a $4.00 price target on shares of Heron Therapeutics in a research report on Friday, April 11th. Wall Street Zen upgraded shares of Heron Therapeutics from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Finally, HC Wainwright assumed coverage on shares of Heron Therapeutics in a report on Monday, June 9th. They issued a "buy" rating and a $6.00 price target on the stock.

Heron Therapeutics Stock Down 25.3%

Shares of NASDAQ HRTX traded down $0.47 during trading on Friday, hitting $1.38. 11,780,382 shares of the company traded hands, compared to its average volume of 1,612,793. The firm has a market capitalization of $209.78 million, a P/E ratio of -22.75 and a beta of 1.15. The company has a 50-day moving average price of $2.01 and a 200-day moving average price of $2.01. Heron Therapeutics, Inc. has a 1 year low of $1.04 and a 1 year high of $2.68.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last posted 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). Research analysts predict that Heron Therapeutics, Inc. will post -0.13 EPS for the current fiscal 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.