9,816,940 Shares in Heron Therapeutics, Inc. $HRTX Acquired by Orbimed Advisors LLC

Orbimed Advisors LLC acquired a new stake in Heron Therapeutics, Inc. (NASDAQ:HRTX) in the 1st quarter, Holdings Channel reports. The firm acquired 9,816,940 shares of the biotechnology company’s stock, valued at approximately $7,855,000. Orbimed Advisors LLC owned 0.05% of Heron Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HRTX. Advisory Services Network LLC boosted its position in Heron Therapeutics by 2,383.4% during the fourth quarter. Advisory Services Network LLC now owns 18,874 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 18,114 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in shares of Heron Therapeutics in the second quarter valued at $26,000. R Squared Ltd purchased a new position in shares of Heron Therapeutics in the first quarter valued at $27,000. SG Americas Securities LLC raised its stake in shares of Heron Therapeutics by 39.1% during the 4th quarter. SG Americas Securities LLC now owns 24,377 shares of the biotechnology company’s stock worth $32,000 after buying an additional 6,858 shares during the last quarter. Finally, HORAN Wealth LLC acquired a new position in shares of Heron Therapeutics during the 1st quarter worth $33,000. 80.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HRTX has been the topic of several recent research reports. Needham & Company LLC lowered shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Weiss Ratings restated a “sell (e+)” rating on shares of Heron Therapeutics in a research report on Friday, July 17th. Wall Street Zen downgraded shares of Heron Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. HC Wainwright lowered their price target on shares of Heron Therapeutics to $2.00 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. Finally, Zacks Research cut shares of Heron Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Heron Therapeutics currently has a consensus rating of “Hold” and an average price target of $2.50.

Heron Therapeutics Price Performance

Shares of NASDAQ:HRTX opened at $0.46 on Monday. The company has a quick ratio of 1.51, a current ratio of 2.53 and a debt-to-equity ratio of 17.51. The company has a market capitalization of $86.27 million, a P/E ratio of -2.53 and a beta of 1.65. Heron Therapeutics, Inc. has a 52-week low of $0.38 and a 52-week high of $1.93. The stock’s fifty day simple moving average is $0.53 and its 200-day simple moving average is $0.90.

Heron Therapeutics (NASDAQ:HRTX) last posted its quarterly earnings data on Monday, May 11th. The biotechnology company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). Heron Therapeutics had a negative return on equity of 7,747.30% and a negative net margin of 20.53%.The company had revenue of $34.71 million for the quarter, compared to analysts’ expectations of $36.72 million. As a group, equities research analysts forecast that Heron Therapeutics, Inc. will post -0.09 earnings per share for the current fiscal year.

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.