Heron Therapeutics, Inc. (NASDAQ:HRTX) Sees Large Growth in Short Interest

Heron Therapeutics, Inc. (NASDAQ:HRTX) saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 30,270,000 shares, an increase of 10.9% from the April 30th total of 27,290,000 shares. Based on an average daily volume of 2,410,000 shares, the short-interest ratio is presently 12.6 days.

Analyst Ratings Changes

HRTX has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $5.00 price objective on shares of Heron Therapeutics in a research report on Thursday, May 16th. Capital One Financial initiated coverage on shares of Heron Therapeutics in a report on Tuesday, April 23rd. They issued an “overweight” rating and a $6.00 price target for the company.

Heron Therapeutics Trading Up 4.3 %

NASDAQ:HRTX traded up $0.16 during trading hours on Monday, hitting $3.86. 2,838,011 shares of the stock were exchanged, compared to its average volume of 2,740,700. The firm’s fifty day moving average price is $2.89 and its 200 day moving average price is $2.41. Heron Therapeutics has a 52-week low of $0.50 and a 52-week high of $3.90. The company has a market cap of $581.51 million, a P/E ratio of -6.33 and a beta of 1.81.

Heron Therapeutics (NASDAQ:HRTX) last issued its quarterly earnings results on Tuesday, May 7th. The biotechnology company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.06. The firm had revenue of $34.67 million for the quarter, compared to analysts’ expectations of $32.50 million. Equities analysts expect that Heron Therapeutics will post -0.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Heron Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Rubric Capital Management LP raised its holdings in Heron Therapeutics by 127.3% in the 3rd quarter. Rubric Capital Management LP now owns 26,713,503 shares of the biotechnology company’s stock valued at $27,515,000 after acquiring an additional 14,963,503 shares during the last quarter. Monaco Asset Management SAM lifted its position in Heron Therapeutics by 219.5% during the fourth quarter. Monaco Asset Management SAM now owns 2,226,475 shares of the biotechnology company’s stock worth $3,785,000 after buying an additional 1,529,567 shares in the last quarter. Congress Park Capital LLC boosted its stake in Heron Therapeutics by 205.3% during the fourth quarter. Congress Park Capital LLC now owns 1,798,650 shares of the biotechnology company’s stock worth $3,058,000 after buying an additional 1,209,500 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in Heron Therapeutics by 100.0% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 2,000,000 shares of the biotechnology company’s stock valued at $2,060,000 after buying an additional 1,000,000 shares in the last quarter. Finally, Tejara Capital Ltd increased its stake in shares of Heron Therapeutics by 28.6% in the 3rd quarter. Tejara Capital Ltd now owns 2,109,681 shares of the biotechnology company’s stock worth $2,173,000 after acquiring an additional 469,548 shares during the last quarter. 80.01% of the stock is owned by hedge funds and other institutional investors.

Heron Therapeutics Company Profile

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.