Mesirow Financial Investment Management Inc. lowered its stake in shares of Heron Therapeutics Inc (NASDAQ:HRTX) by 49.6% in the third quarter, Holdings Channel reports. The firm owned 10,696 shares of the biotechnology company’s stock after selling 10,537 shares during the period. Heron Therapeutics comprises approximately 1.7% of Mesirow Financial Investment Management Inc.’s investment portfolio, making the stock its 29th biggest holding. Mesirow Financial Investment Management Inc.’s holdings in Heron Therapeutics were worth $339,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new position in Heron Therapeutics during the 1st quarter valued at about $117,000. Cubist Systematic Strategies LLC acquired a new position in Heron Therapeutics during the 2nd quarter valued at about $151,000. SG Americas Securities LLC acquired a new position in Heron Therapeutics during the 1st quarter valued at about $183,000. NewSquare Capital LLC acquired a new position in Heron Therapeutics during the 2nd quarter valued at about $211,000. Finally, Fox Run Management L.L.C. acquired a new position in Heron Therapeutics during the 3rd quarter valued at about $249,000.
Shares of NASDAQ HRTX traded up $0.67 during midday trading on Tuesday, reaching $31.67. The company’s stock had a trading volume of 221,035 shares, compared to its average volume of 1,182,795. Heron Therapeutics Inc has a 12-month low of $14.40 and a 12-month high of $42.90. The company has a market capitalization of $2.46 billion, a PE ratio of 8.68 and a beta of 1.59.
Heron Therapeutics (NASDAQ:HRTX) last announced its earnings results on Wednesday, August 8th. The biotechnology company reported ($0.54) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.14. Heron Therapeutics had a negative return on equity of 112.35% and a negative net margin of 411.41%. The firm had revenue of $17.28 million for the quarter, compared to the consensus estimate of $12.82 million. During the same quarter in the previous year, the business earned ($0.80) EPS. The company’s revenue was up 103.1% compared to the same quarter last year. Research analysts expect that Heron Therapeutics Inc will post -2.2 earnings per share for the current fiscal year.
HRTX has been the subject of a number of analyst reports. Evercore ISI lifted their price target on Heron Therapeutics from $56.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, June 21st. Cantor Fitzgerald reiterated a “buy” rating and set a $40.00 price target on shares of Heron Therapeutics in a research note on Thursday, June 21st. Needham & Company LLC lifted their price target on Heron Therapeutics to $66.00 and gave the company a “positive” rating in a research note on Thursday, June 21st. Cowen reiterated a “buy” rating and set a $54.00 price target on shares of Heron Therapeutics in a research note on Thursday, June 21st. Finally, Mizuho reiterated a “buy” rating and set a $41.00 price target on shares of Heron Therapeutics in a research note on Friday, June 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Heron Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $52.91.
In related news, Director Kevin C. Tang sold 2,695,000 shares of Heron Therapeutics stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $35.75, for a total value of $96,346,250.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Kimberly Manhard sold 6,000 shares of Heron Therapeutics stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $32.07, for a total transaction of $192,420.00. Following the completion of the sale, the vice president now directly owns 6,000 shares in the company, valued at approximately $192,420. The disclosure for this sale can be found here. 16.20% of the stock is owned by insiders.
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.
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