Heron Therapeutics Inc. (NASDAQ:HRTX) was the recipient of a large increase in short interest in September. As of September 30th, there was short interest totalling 14,778,780 shares, an increase of 18.5% from the September 15th total of 12,476,147 shares. Based on an average daily volume of 509,083 shares, the short-interest ratio is currently 29.0 days. Approximately 38.2% of the company’s stock are sold short.
In other Heron Therapeutics news, insider Robert Rosen sold 100,000 shares of the stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $23.30, for a total transaction of $2,330,000.00. Following the completion of the transaction, the insider now owns 102,640 shares in the company, valued at approximately $2,391,512. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 20.31% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its position in Heron Therapeutics by 6.0% in the first quarter. JPMorgan Chase & Co. now owns 348,685 shares of the biotechnology company’s stock valued at $6,622,000 after buying an additional 19,737 shares during the last quarter. VHCP Management II LLC purchased a new position in Heron Therapeutics during the first quarter valued at about $7,708,000. Jacobs Levy Equity Management Inc. purchased a new position in Heron Therapeutics during the first quarter valued at about $734,000. Panagora Asset Management Inc. raised its position in Heron Therapeutics by 90.3% in the first quarter. Panagora Asset Management Inc. now owns 245,392 shares of the biotechnology company’s stock valued at $4,660,000 after buying an additional 116,461 shares during the last quarter. Finally, Cormorant Asset Management LLC raised its position in Heron Therapeutics by 3.8% in the first quarter. Cormorant Asset Management LLC now owns 1,750,000 shares of the biotechnology company’s stock valued at $33,233,000 after buying an additional 64,281 shares during the last quarter.
Heron Therapeutics (NASDAQ:HRTX) opened at 15.61 on Friday. The stock has a 50 day moving average price of $18.00 and a 200 day moving average price of $18.86. Heron Therapeutics has a one year low of $15.13 and a one year high of $31.32.
Heron Therapeutics (NASDAQ:HRTX) last released its earnings results on Monday, August 8th. The biotechnology company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.96) by $0.21. On average, analysts forecast that Heron Therapeutics will post ($4.39) earnings per share for the current year.
A number of equities analysts have issued reports on the company. Leerink Swann reiterated an “outperform” rating and set a $33.00 target price on shares of Heron Therapeutics in a report on Thursday, August 18th. Brean Capital restated a “buy” rating and issued a $55.00 price objective on shares of Heron Therapeutics in a report on Saturday, August 13th. Cantor Fitzgerald restated a “buy” rating and issued a $38.00 price objective on shares of Heron Therapeutics in a report on Tuesday, August 9th. Zacks Investment Research cut Heron Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, August 3rd. Finally, JMP Securities restated a “buy” rating on shares of Heron Therapeutics in a report on Friday, September 9th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Heron Therapeutics has a consensus rating of “Buy” and a consensus price target of $42.29.
About Heron Therapeutics
Heron Therapeutics, Inc is a biotechnology company engaged in developing pharmaceutical products for patients suffering from cancer or pain. The Company’s product candidates include SUSTOL, HTX-019 and HTX-011. All of its product candidates utilize science and technology platforms, including its Biochronomer drug delivery technology.
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