Heron Therapeutics, Inc. (NASDAQ:HRTX) saw a significant drop in short interest in the month of August. As of August 15th, there was short interest totalling 12,723,565 shares, a drop of 8.6% from the July 31st total of 13,920,842 shares. Based on an average daily volume of 505,331 shares, the short-interest ratio is presently 25.2 days. Approximately 23.9% of the company’s shares are sold short.
Shares of Heron Therapeutics (NASDAQ:HRTX) opened at 16.40 on Friday. The stock’s 50 day moving average is $15.77 and its 200 day moving average is $14.76. Heron Therapeutics has a 12 month low of $12.21 and a 12 month high of $20.85.
Heron Therapeutics (NASDAQ:HRTX) last announced its quarterly earnings data on Wednesday, August 9th. The biotechnology company reported ($0.80) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.10. The firm had revenue of $8.51 million for the quarter, compared to analysts’ expectations of $4.53 million. On average, analysts anticipate that Heron Therapeutics will post ($3.51) earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the stock. Mesirow Financial Investment Management Inc. purchased a new position in shares of Heron Therapeutics during the second quarter valued at approximately $509,000. National Asset Management Inc. purchased a new position in shares of Heron Therapeutics during the second quarter valued at approximately $650,000. The Manufacturers Life Insurance Company raised its position in shares of Heron Therapeutics by 30.6% in the second quarter. The Manufacturers Life Insurance Company now owns 34,741 shares of the biotechnology company’s stock valued at $482,000 after buying an additional 8,135 shares in the last quarter. BlueCrest Capital Management Ltd purchased a new position in shares of Heron Therapeutics during the second quarter valued at approximately $948,000. Finally, Janus Henderson Group PLC purchased a new position in shares of Heron Therapeutics during the second quarter valued at approximately $78,134,000.
Several research firms have weighed in on HRTX. BidaskClub upgraded shares of Heron Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday. Cantor Fitzgerald set a $31.00 price objective on shares of Heron Therapeutics and gave the stock a “buy” rating in a research report on Friday, August 18th. Jefferies Group LLC reissued a “buy” rating on shares of Heron Therapeutics in a research report on Wednesday, August 16th. ValuEngine raised shares of Heron Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 22nd. Finally, Cowen and Company reissued a “buy” rating and set a $40.00 price objective on shares of Heron Therapeutics in a research report on Friday, May 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $31.00.
Heron Therapeutics Company Profile
Heron Therapeutics, Inc is a biotechnology company engaged in developing pharmaceutical products for patients suffering from cancer or pain. The Company’s product candidates include SUSTOL, HTX-019 and HTX-011. All of its product candidates utilize science and technology platforms, including its Biochronomer drug delivery technology.
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