Heron Therapeutics, Inc. $HRTX Stock: JW Asset Management LLC Lowers Position

JW Asset Management LLC reduced its stake in shares of Heron Therapeutics, Inc. (NASDAQ:HRTX) by 96.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 140,863 shares of the biotechnology company’s stock after selling 3,610,210 shares during the period. Heron Therapeutics makes up 0.0% of JW Asset Management LLC’s investment portfolio, making the stock its 29th biggest position. JW Asset Management LLC’s holdings in Heron Therapeutics were worth $44,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Heron Therapeutics during the 2nd quarter valued at $4,503,000. Tejara Capital Ltd bought a new stake in Heron Therapeutics during the 2nd quarter valued at approximately $2,779,000. Orbimed Advisors LLC purchased a new stake in Heron Therapeutics in the first quarter worth $7,855,000. Pale Fire Capital SE boosted its holdings in shares of Heron Therapeutics by 84.8% during the 1st quarter. Pale Fire Capital SE now owns 2,716,328 shares of the biotechnology company’s stock valued at $2,173,000 after buying an additional 1,246,673 shares in the last quarter. Finally, Ieq Capital LLC purchased a new stake in shares of Heron Therapeutics in the 2nd quarter worth about $41,000. 80.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on HRTX shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Heron Therapeutics in a research note on Thursday, October 15th. Wall Street Zen upgraded shares of Heron Therapeutics to a “sell” rating in a research note on Saturday, August 8th. HC Wainwright cut shares of Heron Therapeutics from a “buy” rating to a “neutral” rating in a report on Tuesday, August 11th. Finally, Zacks Research raised Heron Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, August 3rd. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $2.00.

Heron Therapeutics Stock Down 9.3%

NASDAQ HRTX opened at $0.33 on Friday. The company has a current ratio of 2.33, a quick ratio of 1.51 and a debt-to-equity ratio of 32.59. The stock’s 50 day moving average is $0.33 and its 200 day moving average is $0.65. Heron Therapeutics, Inc. has a 12 month low of $0.26 and a 12 month high of $1.57. The stock has a market cap of $62.01 million, a PE ratio of -2.72 and a beta of 1.65.

Heron Therapeutics (NASDAQ:HRTX) last issued its quarterly earnings data on Monday, November 9th. The biotechnology company reported ($0.03) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.03). Heron Therapeutics had a negative return on equity of 277.36% and a negative net margin of 14.55%. The business had revenue of $35.25 million for the quarter, compared to analysts’ expectations of $37.50 million. Research analysts predict that Heron Therapeutics, Inc. will post -0.14 EPS for the current fiscal year.

Heron Therapeutics Profile

Heron Therapeutics, Inc. is a commercial-stage biotechnology company focused on developing and marketing medicines for acute care and oncology supportive care. Its products are designed to address unmet needs such as postoperative pain and chemotherapy-induced nausea and vomiting. The company’s portfolio includes ZYNRELEF, an extended-release solution combining bupivacaine and meloxicam for the management of postoperative pain in adults. Heron also markets CINVANTI, an injectable formulation of aprepitant used as part of a combination regimen to help prevent acute and delayed nausea and vomiting associated with highly or moderately emetogenic cancer chemotherapy.