Heron Therapeutics, Inc. (NASDAQ:HRTX) Sees Significant Increase in Short Interest

Heron Therapeutics, Inc. (NASDAQ:HRTX) was the recipient of a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 35,660,000 shares, a growth of 8.7% from the June 30th total of 32,820,000 shares. Based on an average daily volume of 2,430,000 shares, the days-to-cover ratio is currently 14.7 days.

Analyst Upgrades and Downgrades

Several research firms have issued reports on HRTX. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price target on shares of Heron Therapeutics in a research note on Thursday, May 16th. Rodman & Renshaw began coverage on shares of Heron Therapeutics in a research report on Thursday, June 13th. They set a “buy” rating and a $7.00 target price on the stock. Finally, Capital One Financial initiated coverage on Heron Therapeutics in a report on Tuesday, April 23rd. They issued an “overweight” rating and a $6.00 price target for the company.

Institutional Investors Weigh In On Heron Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in HRTX. Monaco Asset Management SAM lifted its stake in shares of Heron Therapeutics by 219.5% in the 4th quarter. Monaco Asset Management SAM now owns 2,226,475 shares of the biotechnology company’s stock valued at $3,785,000 after purchasing an additional 1,529,567 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in Heron Therapeutics by 49.9% in the fourth quarter. Los Angeles Capital Management LLC now owns 514,377 shares of the biotechnology company’s stock valued at $874,000 after buying an additional 171,250 shares during the period. Orchard Capital Management LLC lifted its position in Heron Therapeutics by 4.7% during the fourth quarter. Orchard Capital Management LLC now owns 2,243,426 shares of the biotechnology company’s stock valued at $3,814,000 after buying an additional 100,603 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Heron Therapeutics by 80.7% during the first quarter. BNP Paribas Financial Markets now owns 51,296 shares of the biotechnology company’s stock worth $142,000 after buying an additional 22,904 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Heron Therapeutics during the first quarter worth approximately $32,000. 80.01% of the stock is currently owned by institutional investors and hedge funds.

Heron Therapeutics Stock Down 2.4 %

HRTX traded down $0.07 during midday trading on Tuesday, hitting $2.86. The company’s stock had a trading volume of 556,957 shares, compared to its average volume of 2,580,918. Heron Therapeutics has a 52-week low of $0.50 and a 52-week high of $3.93. The firm has a 50-day moving average price of $3.33 and a two-hundred day moving average price of $2.90.

Heron Therapeutics (NASDAQ:HRTX) last announced its quarterly earnings data on Tuesday, May 7th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.06. The company had revenue of $34.67 million for the quarter, compared to analysts’ expectations of $32.50 million. On average, research analysts expect that Heron Therapeutics will post -0.1 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.