Clearline Capital LP Sells 1,280,938 Shares of Heron Therapeutics, Inc. (NASDAQ:HRTX)

Clearline Capital LP decreased its position in Heron Therapeutics, Inc. (NASDAQ:HRTX) by 46.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,495,266 shares of the biotechnology company’s stock after selling 1,280,938 shares during the period. Clearline Capital LP’s holdings in Heron Therapeutics were worth $5,233,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of HRTX. nVerses Capital LLC purchased a new stake in shares of Heron Therapeutics during the second quarter valued at approximately $27,000. Headlands Technologies LLC bought a new position in shares of Heron Therapeutics during the first quarter valued at $30,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Heron Therapeutics during the first quarter valued at $32,000. HB Wealth Management LLC purchased a new position in Heron Therapeutics in the 2nd quarter worth about $35,000. Finally, Sei Investments Co. bought a new position in Heron Therapeutics during the 2nd quarter valued at about $44,000. 80.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HRTX. Rodman & Renshaw began coverage on shares of Heron Therapeutics in a report on Thursday, June 13th. They set a “buy” rating and a $7.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 target price on shares of Heron Therapeutics in a research report on Wednesday.

Heron Therapeutics Stock Down 2.9 %

Heron Therapeutics stock opened at $1.99 on Friday. Heron Therapeutics, Inc. has a 52-week low of $0.50 and a 52-week high of $3.93. The company has a market cap of $299.80 million, a P/E ratio of -3.26 and a beta of 1.80. The business has a 50-day simple moving average of $2.17 and a two-hundred day simple moving average of $2.76.

Heron Therapeutics (NASDAQ:HRTX) last announced its earnings results on Tuesday, August 6th. The biotechnology company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The company had revenue of $36.02 million for the quarter, compared to the consensus estimate of $35.35 million. During the same period last year, the business earned ($0.35) EPS. Research analysts anticipate that Heron Therapeutics, Inc. will post -0.1 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.