Short Interest in Heron Therapeutics Inc. (HRTX) Increases By 18.5%
Heron Therapeutics Inc. (NASDAQ:HRTX) saw a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 14,778,780 shares, an increase of 18.5% from the September 15th total of 12,476,147 shares. Currently, 38.2% of the shares of the stock are sold short. Based on an average daily volume of 509,083 shares, the short-interest ratio is presently 29.0 days.
In other news, insider Robert Rosen sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $23.30, for a total value of $2,330,000.00. Following the sale, the insider now directly owns 102,640 shares in the company, valued at approximately $2,391,512. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 20.31% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Group LTD boosted its position in shares of Heron Therapeutics by 9.0% in the second quarter. BlackRock Group LTD now owns 10,816 shares of the biotechnology company’s stock worth $195,000 after buying an additional 897 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in Heron Therapeutics by 8.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 16,739 shares of the biotechnology company’s stock worth $302,000 after buying an additional 1,283 shares during the last quarter. American International Group Inc. boosted its stake in Heron Therapeutics by 8.1% in the second quarter. American International Group Inc. now owns 18,293 shares of the biotechnology company’s stock worth $330,000 after buying an additional 1,369 shares during the last quarter. Swiss National Bank boosted its stake in Heron Therapeutics by 3.0% in the second quarter. Swiss National Bank now owns 51,900 shares of the biotechnology company’s stock worth $937,000 after buying an additional 1,500 shares during the last quarter. Finally, BlackRock Advisors LLC boosted its stake in Heron Therapeutics by 13.3% in the second quarter. BlackRock Advisors LLC now owns 15,104 shares of the biotechnology company’s stock worth $273,000 after buying an additional 1,769 shares during the last quarter.
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Several equities research analysts have recently weighed in on HRTX shares. Brean Capital started coverage on Heron Therapeutics in a research note on Tuesday, October 4th. They issued a “buy” rating and a $41.00 price objective on the stock. Lake Street Capital reissued a “buy” rating and issued a $45.00 target price on shares of Heron Therapeutics in a report on Tuesday, September 6th. JMP Securities reissued a “buy” rating on shares of Heron Therapeutics in a report on Friday, September 9th. Jefferies Group reduced their target price on Heron Therapeutics from $46.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, October 3rd. Finally, Zacks Investment Research downgraded Heron Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, October 5th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $42.29.
Heron Therapeutics (NASDAQ:HRTX) opened at 15.70 on Thursday. The firm’s 50-day moving average price is $18.23 and its 200 day moving average price is $18.89. Heron Therapeutics has a 12-month low of $15.13 and a 12-month high of $31.32.
Heron Therapeutics (NASDAQ:HRTX) last announced its quarterly earnings data on Monday, August 8th. The biotechnology company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.96) by $0.21. Equities research analysts predict that Heron Therapeutics will post ($4.39) earnings per share for the current year.
About Heron Therapeutics
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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