Traders Purchase High Volume of Heron Therapeutics Put Options (NASDAQ:HRTX)

Heron Therapeutics Inc (NASDAQ:HRTX) was the recipient of unusually large options trading on Wednesday. Stock traders purchased 1,188 put options on the stock. This represents an increase of 1,700% compared to the typical volume of 66 put options.

A number of institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its holdings in Heron Therapeutics by 5.5% in the first quarter. FMR LLC now owns 8,473,847 shares of the biotechnology company’s stock valued at $207,101,000 after acquiring an additional 439,044 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Heron Therapeutics by 5.2% in the second quarter. Vanguard Group Inc. now owns 6,744,858 shares of the biotechnology company’s stock valued at $125,387,000 after acquiring an additional 330,351 shares during the last quarter. BlackRock Inc. boosted its holdings in Heron Therapeutics by 0.9% in the second quarter. BlackRock Inc. now owns 4,901,392 shares of the biotechnology company’s stock valued at $91,116,000 after acquiring an additional 42,657 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in Heron Therapeutics by 153.4% in the first quarter. Clearbridge Investments LLC now owns 2,180,577 shares of the biotechnology company’s stock valued at $53,293,000 after acquiring an additional 1,320,025 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Heron Therapeutics by 60.2% in the second quarter. JPMorgan Chase & Co. now owns 1,425,517 shares of the biotechnology company’s stock valued at $26,274,000 after acquiring an additional 535,821 shares during the last quarter.

Several research firms have issued reports on HRTX. Evercore ISI reiterated a “buy” rating and set a $75.00 price objective on shares of Heron Therapeutics in a research note on Tuesday, August 13th. Stifel Nicolaus reiterated a “buy” rating and set a $38.00 price objective on shares of Heron Therapeutics in a research note on Monday, August 5th. Northland Securities reiterated a “buy” rating and set a $55.00 price objective on shares of Heron Therapeutics in a research note on Monday, August 5th. ValuEngine upgraded Heron Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, BidaskClub upgraded Heron Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. Heron Therapeutics presently has an average rating of “Hold” and an average price target of $52.67.

Shares of NASDAQ:HRTX traded down $0.29 during midday trading on Thursday, reaching $20.45. The company’s stock had a trading volume of 143,947 shares, compared to its average volume of 947,795. Heron Therapeutics has a fifty-two week low of $15.68 and a fifty-two week high of $37.25. The company has a market capitalization of $1.66 billion, a P/E ratio of -8.38 and a beta of 1.47. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.01 and a quick ratio of 3.70. The business’s fifty day simple moving average is $17.75 and its 200-day simple moving average is $20.27.

Heron Therapeutics (NASDAQ:HRTX) last announced its earnings results on Monday, August 5th. The biotechnology company reported ($0.63) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.65) by $0.02. The company had revenue of $36.66 million during the quarter, compared to analyst estimates of $31.04 million. Heron Therapeutics had a negative return on equity of 56.89% and a negative net margin of 172.07%. On average, analysts forecast that Heron Therapeutics will post -2.73 earnings per share for the current fiscal year.

Heron Therapeutics Company Profile

Heron Therapeutics, Inc, a biotechnology company, engages in developing treatments to address unmet medical needs. The company's product candidates utilize its proprietary Biochronomer 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.

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