Geode Capital Management LLC Decreases Stock Position in Heron Therapeutics, Inc. (NASDAQ:HRTX)

Geode Capital Management LLC decreased its position in shares of Heron Therapeutics, Inc. (NASDAQ:HRTX) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,045,361 shares of the biotechnology company’s stock after selling 66,974 shares during the period. Geode Capital Management LLC’s holdings in Heron Therapeutics were worth $6,062,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. nVerses Capital LLC purchased a new stake in shares of Heron Therapeutics during the 2nd quarter worth approximately $27,000. Cutter & CO Brokerage Inc. purchased a new position in shares of Heron Therapeutics in the third quarter valued at $39,000. Y Intercept Hong Kong Ltd bought a new stake in Heron Therapeutics in the third quarter worth $39,000. B. Riley Wealth Advisors Inc. purchased a new stake in Heron Therapeutics during the second quarter valued at $41,000. Finally, Sei Investments Co. bought a new position in Heron Therapeutics during the second quarter valued at $44,000. 80.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. StockNews.com downgraded shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday. Needham & Company LLC reiterated a “buy” rating and issued a $4.00 price target on shares of Heron Therapeutics in a research report on Wednesday, December 4th.

Heron Therapeutics Price Performance

NASDAQ:HRTX opened at $1.66 on Friday. Heron Therapeutics, Inc. has a 1-year low of $1.04 and a 1-year high of $3.93. The company has a 50-day moving average of $1.51 and a 200 day moving average of $2.07. The firm has a market cap of $252.48 million, a PE ratio of -9.22 and a beta of 1.60.

Heron Therapeutics (NASDAQ:HRTX) last announced its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). The company had revenue of $32.81 million during the quarter, compared to analysts’ expectations of $36.40 million. During the same quarter in the prior year, the business posted ($0.17) earnings per share. Sell-side analysts anticipate that Heron Therapeutics, Inc. will post -0.13 EPS for the current fiscal 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.