Tejara Capital Ltd Buys New Stake in Heron Therapeutics, Inc. $HRTX

Key Points

• Tejara Capital acquired 6.51 million Heron Therapeutics shares in the second quarter, worth approximately $2.78 million and representing 3.44% of the company. Institutional investors collectively owned 80.01% of HRTX.
• Heron Therapeutics shares opened at $0.31, near their one-year low of $0.30, while the company reported a quarterly loss of $0.03 per share and revenue of $37.67 million, below analysts’ $42.19 million estimate.
• Analyst sentiment was mixed but leaned cautious, with a consensus rating of Hold and an average price target of $2.00; recent firms downgraded the stock from Buy to Hold or Neutral.

Tejara Capital Ltd acquired a new stake in Heron Therapeutics, Inc. (NASDAQ:HRTX - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,510,795 shares of the biotechnology company's stock, valued at approximately $2,779,000. Heron Therapeutics makes up about 1.1% of Tejara Capital Ltd's holdings, making the stock its 28th biggest position. Tejara Capital Ltd owned 3.44% of Heron Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Heron Therapeutics during the second quarter worth about $4,503,000. Deutsche Bank AG acquired a new stake in shares of Heron Therapeutics in the 2nd quarter valued at $41,000. Persistent Asset Partners Ltd purchased a new stake in Heron Therapeutics during the 2nd quarter worth about $50,000. Bank of New York Mellon Corp purchased a new stake in Heron Therapeutics during the second quarter worth approximately $169,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Heron Therapeutics in the 2nd quarter valued at $445,000. Hedge funds and other institutional investors own 80.01% of the company's stock.

Heron Therapeutics Stock Down 1.9%

Shares of Heron Therapeutics stock opened at $0.31 on Friday. Heron Therapeutics, Inc. has a one year low of $0.30 and a one year high of $1.57. The company has a market cap of $58.66 million, a P/E ratio of -1.63 and a beta of 1.65. The company has a debt-to-equity ratio of 24.35, a quick ratio of 1.51 and a current ratio of 2.49. The firm has a fifty day moving average of $0.43 and a two-hundred day moving average of $0.77.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last issued its earnings results on Monday, August 10th. The biotechnology company reported ($0.03) earnings per share for the quarter. The firm had revenue of $37.67 million during the quarter, compared to analysts' expectations of $42.19 million. Heron Therapeutics had a negative net margin of 22.52% and a negative return on equity of 293.02%. On average, analysts forecast that Heron Therapeutics, Inc. will post -0.14 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Needham & Company LLC lowered Heron Therapeutics from a "buy" rating to a "hold" rating in a report on Tuesday, June 2nd. Weiss Ratings reissued a "sell (e+)" rating on shares of Heron Therapeutics in a research report on Friday, July 17th. Zacks Research upgraded Heron Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Monday, August 3rd. Wall Street Zen raised Heron Therapeutics to a "sell" rating in a research report on Saturday, August 8th. Finally, HC Wainwright cut Heron Therapeutics from a "buy" rating to a "neutral" rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Heron Therapeutics currently has a consensus rating of "Hold" and an average target price of $2.00.

Heron Therapeutics Profile

Heron Therapeutics, Inc is a commercial-stage biotechnology company focused on developing and commercializing therapies in pain management and supportive care for patients undergoing medical and surgical procedures. The company's research is dedicated to addressing unmet needs in oncology supportive care and post-operative pain management through innovative drug formulations designed to improve patient outcomes and reduce reliance on opioids.

Heron's first approved therapy, SUSTOL (granisetron) extended-release injection, received U.S.

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