Heron Therapeutics Target of Unusually Large Options Trading (NASDAQ:HRTX)

Heron Therapeutics, Inc. (NASDAQ:HRTX) saw unusually large options trading on Tuesday. Investors acquired 11,901 call options on the company. This represents an increase of approximately 1,867% compared to the typical daily volume of 605 call options.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. StockNews.com cut Heron Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $4.00 price target on shares of Heron Therapeutics in a research report on Friday, April 11th.

Heron Therapeutics Stock Up 12.4 %

Shares of NASDAQ:HRTX traded up $0.27 during trading on Tuesday, reaching $2.40. 4,972,983 shares of the company traded hands, compared to its average volume of 2,340,819. The firm has a market capitalization of $365.31 million, a PE ratio of -13.30 and a beta of 1.33. The company’s 50 day moving average is $2.19 and its two-hundred day moving average is $1.81. Heron Therapeutics has a 52 week low of $1.04 and a 52 week high of $3.93.

Heron Therapeutics (NASDAQ:HRTX) last issued its earnings results on Tuesday, May 6th. The biotechnology company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.03. As a group, research analysts anticipate that Heron Therapeutics will post -0.13 EPS for the current year.

Hedge Funds Weigh In On Heron Therapeutics

Institutional investors have recently modified their holdings of the business. AIGH Capital Management LLC bought a new position in shares of Heron Therapeutics in the first quarter worth about $6,112,000. Wealth Alliance LLC bought a new stake in shares of Heron Therapeutics during the first quarter worth $70,000. New York State Common Retirement Fund increased its holdings in shares of Heron Therapeutics by 32.7% during the first quarter. New York State Common Retirement Fund now owns 1,752,924 shares of the biotechnology company’s stock worth $3,856,000 after buying an additional 431,918 shares in the last quarter. Valeo Financial Advisors LLC lifted its stake in shares of Heron Therapeutics by 34.1% in the 1st quarter. Valeo Financial Advisors LLC now owns 18,152 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 4,619 shares during the last quarter. Finally, Palisade Capital Management LP grew its position in Heron Therapeutics by 34.7% during the 1st quarter. Palisade Capital Management LP now owns 5,286,931 shares of the biotechnology company’s stock worth $11,631,000 after acquiring an additional 1,360,542 shares during the last quarter. Institutional investors and hedge funds own 80.01% of the company’s stock.

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.