Clearline Capital LP Increases Holdings in Heron Therapeutics, Inc. $HRTX

Clearline Capital LP lifted its holdings in Heron Therapeutics, Inc. (NASDAQ:HRTX) by 1,033.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,712,527 shares of the biotechnology company’s stock after acquiring an additional 8,855,361 shares during the period. Clearline Capital LP owned 5.30% of Heron Therapeutics worth $12,238,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. PKS Advisory Services LLC purchased a new position in Heron Therapeutics in the 3rd quarter worth approximately $25,000. B. Riley Wealth Advisors Inc. bought a new position in Heron Therapeutics in the 2nd quarter worth approximately $26,000. Jones Financial Companies Lllp grew its holdings in Heron Therapeutics by 5,541.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 24,088 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 23,661 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Heron Therapeutics during the second quarter valued at approximately $43,000. Finally, CWM LLC lifted its holdings in shares of Heron Therapeutics by 738.0% in the third quarter. CWM LLC now owns 45,015 shares of the biotechnology company’s stock worth $57,000 after buying an additional 39,643 shares in the last quarter. Hedge funds and other institutional investors own 80.01% of the company’s stock.

Heron Therapeutics Trading Down 5.0%

Shares of HRTX opened at $0.88 on Friday. The stock has a market capitalization of $166.24 million, a PE ratio of -6.78 and a beta of 1.26. The company’s fifty day moving average is $1.25 and its 200 day moving average is $1.25. The company has a debt-to-equity ratio of 10.59, a quick ratio of 1.51 and a current ratio of 2.48. Heron Therapeutics, Inc. has a fifty-two week low of $0.88 and a fifty-two week high of $2.61.

Heron Therapeutics (NASDAQ:HRTX) last released its quarterly earnings results on Thursday, February 26th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. The business had revenue of $40.59 million for the quarter, compared to analysts’ expectations of $39.53 million. Sell-side analysts expect that Heron Therapeutics, Inc. will post -0.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HRTX has been the subject of a number of research reports. Zacks Research lowered shares of Heron Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 26th. HC Wainwright reiterated a “buy” rating and issued a $6.00 price target on shares of Heron Therapeutics in a research note on Friday, January 9th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Heron Therapeutics in a report on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Heron Therapeutics presently has an average rating of “Hold” and a consensus target price of $4.50.

About Heron Therapeutics

Heron Therapeutics, Inc is a commercial-stage biotechnology company focused on developing and commercializing therapies in pain management and supportive care for patients undergoing medical and surgical procedures. The company’s research is dedicated to addressing unmet needs in oncology supportive care and post-operative pain management through innovative drug formulations designed to improve patient outcomes and reduce reliance on opioids.

Heron’s first approved therapy, SUSTOL (granisetron) extended-release injection, received U.S.