Richmond Brothers Inc. Raises Stake in Heron Therapeutics, Inc. (NASDAQ:HRTX)

Richmond Brothers Inc. raised its position in shares of Heron Therapeutics, Inc. (NASDAQ:HRTX - Free Report) by 25.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 642,339 shares of the biotechnology company's stock after buying an additional 131,557 shares during the quarter. Heron Therapeutics comprises approximately 0.6% of Richmond Brothers Inc.'s portfolio, making the stock its 22nd biggest position. Richmond Brothers Inc. owned 0.42% of Heron Therapeutics worth $983,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of HRTX. Argent Advisors Inc. bought a new position in Heron Therapeutics during the fourth quarter valued at approximately $31,000. Y Intercept Hong Kong Ltd bought a new position in Heron Therapeutics in the 3rd quarter worth $39,000. Capstone Investment Advisors LLC purchased a new position in Heron Therapeutics during the third quarter valued at approximately $45,000. Cutter & CO Brokerage Inc. increased its stake in Heron Therapeutics by 69.6% in the 4th quarter. Cutter & CO Brokerage Inc. now owns 33,135 shares of the biotechnology company's stock worth $51,000 after buying an additional 13,600 shares in the last quarter. Finally, Glenmede Trust Co. NA raised its holdings in Heron Therapeutics by 49.6% during the third quarter. Glenmede Trust Co. NA now owns 31,903 shares of the biotechnology company's stock valued at $63,000 after acquiring an additional 10,578 shares during the period. Institutional investors own 80.01% of the company's stock.

Wall Street Analyst Weigh In

HRTX has been the subject of a number of research analyst reports. StockNews.com lowered 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 issued a $4.00 price objective on shares of Heron Therapeutics in a research note on Friday, February 28th.

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Heron Therapeutics Stock Down 0.8 %

Heron Therapeutics stock traded down $0.02 during midday trading on Friday, reaching $2.38. The stock had a trading volume of 1,468,543 shares, compared to its average volume of 2,361,739. The company has a fifty day moving average of $1.92 and a 200 day moving average of $1.76. Heron Therapeutics, Inc. has a 52-week low of $1.04 and a 52-week high of $3.93. The firm has a market cap of $362.55 million, a price-to-earnings ratio of -13.22 and a beta of 1.55.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last released its earnings results on Thursday, February 27th. The biotechnology company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.05. The business had revenue of $40.78 million for the quarter, compared to the consensus estimate of $37.37 million. Equities research analysts predict that Heron Therapeutics, Inc. will post -0.13 EPS for the current year.

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.