Traders Purchase Large Volume of Heron Therapeutics Call Options (NASDAQ:HRTX)

Heron Therapeutics, Inc. (NASDAQ:HRTX) was the recipient of unusually large options trading on Tuesday. Stock investors acquired 11,901 call options on the company. This represents an increase of 1,867% compared to the typical volume of 605 call options.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of HRTX. Point72 Asset Management L.P. purchased a new position in Heron Therapeutics during the fourth quarter worth approximately $4,706,000. AIGH Capital Management LLC purchased a new stake in shares of Heron Therapeutics during the first quarter worth about $6,112,000. Palisade Capital Management LP raised its position in shares of Heron Therapeutics by 34.7% during the 1st quarter. Palisade Capital Management LP now owns 5,286,931 shares of the biotechnology company’s stock worth $11,631,000 after purchasing an additional 1,360,542 shares during the last quarter. Stonepine Capital Management LLC purchased a new position in Heron Therapeutics in the 4th quarter valued at about $1,071,000. Finally, Congress Park Capital LLC increased its stake in Heron Therapeutics by 24.1% during the 4th quarter. Congress Park Capital LLC now owns 2,455,495 shares of the biotechnology company’s stock worth $3,757,000 after buying an additional 477,417 shares in the last quarter. 80.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on HRTX. StockNews.com lowered shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Needham & Company LLC restated a “buy” rating and issued a $4.00 target price on shares of Heron Therapeutics in a research note on Friday, April 11th.

Heron Therapeutics Stock Performance

Shares of HRTX stock opened at $2.26 on Thursday. The firm has a market capitalization of $343.96 million, a price-to-earnings ratio of -12.53 and a beta of 1.33. The stock’s 50-day simple moving average is $2.20 and its 200-day simple moving average is $1.81. Heron Therapeutics 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 quarterly earnings results on Tuesday, May 6th. The biotechnology company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The firm had revenue of $38.90 million for the quarter, compared to analyst estimates of $37.08 million. As a group, equities analysts forecast that Heron Therapeutics will post -0.13 earnings per share for the current year.

About Heron Therapeutics

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.