First Light Asset Management LLC Purchases 59,554 Shares of Heron Therapeutics Inc (HRTX)
First Light Asset Management LLC lifted its position in shares of Heron Therapeutics Inc (NASDAQ:HRTX) by 14.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 473,275 shares of the biotechnology company’s stock after acquiring an additional 59,554 shares during the quarter. Heron Therapeutics makes up about 2.9% of First Light Asset Management LLC’s investment portfolio, making the stock its 14th largest position. First Light Asset Management LLC’s holdings in Heron Therapeutics were worth $13,062,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in HRTX. Eagle Asset Management Inc. bought a new stake in shares of Heron Therapeutics during the first quarter worth $50,005,000. Carillon Tower Advisers Inc. bought a new stake in shares of Heron Therapeutics during the first quarter worth $33,651,000. BlackRock Inc. raised its position in shares of Heron Therapeutics by 18.0% during the first quarter. BlackRock Inc. now owns 3,512,721 shares of the biotechnology company’s stock worth $96,952,000 after acquiring an additional 535,285 shares during the last quarter. Rock Springs Capital Management LP bought a new stake in shares of Heron Therapeutics during the fourth quarter worth $4,525,000. Finally, ArrowMark Colorado Holdings LLC raised its position in shares of Heron Therapeutics by 33.1% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 838,117 shares of the biotechnology company’s stock worth $15,170,000 after acquiring an additional 208,548 shares during the last quarter.
In other Heron Therapeutics news, VP Kimberly Manhard sold 18,000 shares of the business’s stock in a transaction dated Monday, March 19th. The stock was sold at an average price of $30.00, for a total value of $540,000.00. Following the completion of the transaction, the vice president now directly owns 18,000 shares of the company’s stock, valued at $540,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kevin C. Tang bought 192,308 shares of the firm’s stock in a transaction on Thursday, March 29th. The stock was acquired at an average cost of $26.00 per share, with a total value of $5,000,008.00. The disclosure for this purchase can be found here. 16.20% of the stock is currently owned by insiders.
Heron Therapeutics (NASDAQ:HRTX) last posted its earnings results on Thursday, May 10th. The biotechnology company reported ($0.81) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.06. Heron Therapeutics had a negative return on equity of 239.94% and a negative net margin of 515.27%. The firm had revenue of $11.60 million during the quarter, compared to analysts’ expectations of $11.10 million. The firm’s revenue was up 222.2% on a year-over-year basis. analysts anticipate that Heron Therapeutics Inc will post -2.38 EPS for the current year.
A number of equities research analysts recently commented on the company. Northland Securities reaffirmed a “buy” rating and set a $55.00 price objective on shares of Heron Therapeutics in a research note on Monday, March 26th. Cantor Fitzgerald set a $40.00 price objective on Heron Therapeutics and gave the stock a “buy” rating in a research note on Sunday, April 22nd. ValuEngine cut Heron Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Lake Street Capital set a $42.00 price objective on Heron Therapeutics and gave the stock a “buy” rating in a research note on Friday, February 16th. Finally, BidaskClub raised Heron Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, March 24th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $36.54.
Heron Therapeutics Company Profile
Heron Therapeutics, Inc, a biotechnology company, engages in developing medicines to address unmet medical needs. The company's product candidates utilize its proprietary Biochronomer 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.
Want to see what other hedge funds are holding HRTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Heron Therapeutics Inc (NASDAQ:HRTX).
Receive News & Ratings for Heron Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Heron Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.