Stonepine Capital Management LLC Invests $1.07 Million in Heron Therapeutics, Inc. (NASDAQ:HRTX)

Stonepine Capital Management LLC bought a new stake in Heron Therapeutics, Inc. (NASDAQ:HRTX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 700,000 shares of the biotechnology company’s stock, valued at approximately $1,071,000. Heron Therapeutics makes up 0.9% of Stonepine Capital Management LLC’s portfolio, making the stock its 29th largest holding. Stonepine Capital Management LLC owned about 0.46% of Heron Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Nicolet Advisory Services LLC bought a new stake in shares of Heron Therapeutics during the 4th quarter worth approximately $25,000. Argent Advisors Inc. acquired a new position in Heron Therapeutics in the 4th quarter valued at $31,000. Focus Partners Wealth acquired a new stake in shares of Heron Therapeutics during the 4th quarter worth $31,000. ProShare Advisors LLC grew its holdings in shares of Heron Therapeutics by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 33,063 shares of the biotechnology company’s stock worth $51,000 after purchasing an additional 10,880 shares in the last quarter. Finally, Cutter & CO Brokerage Inc. grew its holdings in shares of Heron Therapeutics by 69.6% during the 4th quarter. Cutter & CO Brokerage Inc. now owns 33,135 shares of the biotechnology company’s stock worth $51,000 after purchasing an additional 13,600 shares in the last quarter. Institutional investors own 80.01% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on HRTX shares. 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, April 11th. StockNews.com downgraded Heron Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th.

Heron Therapeutics Stock Performance

Shares of HRTX stock opened at $1.97 on Friday. The company has a market cap of $300.55 million, a P/E ratio of -10.94 and a beta of 1.33. The stock has a 50 day simple moving average of $2.14 and a two-hundred day simple moving average of $1.82. Heron Therapeutics, Inc. has a fifty-two week low of $1.04 and a fifty-two week high of $3.93.

Heron Therapeutics (NASDAQ:HRTX) last issued its earnings results on Tuesday, May 6th. The biotechnology company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The business had revenue of $38.90 million during the quarter, compared to the consensus estimate of $37.08 million. On average, research analysts predict that Heron Therapeutics, Inc. will post -0.13 earnings per share for the current year.

Heron Therapeutics Profile

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.