Broadfin Capital LLC Acquires 749,587 Shares of Heron Therapeutics, Inc. (HRTX)
Broadfin Capital LLC raised its stake in Heron Therapeutics, Inc. (NASDAQ:HRTX) by 23.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,899,587 shares of the biotechnology company’s stock after buying an additional 749,587 shares during the period. Heron Therapeutics comprises approximately 5.7% of Broadfin Capital LLC’s holdings, making the stock its 4th largest position. Broadfin Capital LLC’s holdings in Heron Therapeutics were worth $51,085,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Highland Capital Management LP boosted its position in Heron Therapeutics by 140.2% in the fourth quarter. Highland Capital Management LP now owns 1,562,817 shares of the biotechnology company’s stock valued at $20,473,000 after buying an additional 912,086 shares in the last quarter. Trexquant Investment LP acquired a new position in Heron Therapeutics during the fourth quarter valued at about $353,000. FMR LLC boosted its position in Heron Therapeutics by 0.4% in the fourth quarter. FMR LLC now owns 5,872,839 shares of the biotechnology company’s stock valued at $76,934,000 after buying an additional 20,545 shares in the last quarter. State Street Corp boosted its position in Heron Therapeutics by 24.6% in the fourth quarter. State Street Corp now owns 1,367,565 shares of the biotechnology company’s stock valued at $17,913,000 after buying an additional 270,022 shares in the last quarter. Finally, Rubric Capital Management LP acquired a new position in Heron Therapeutics during the fourth quarter valued at about $7,205,000.
Shares of Heron Therapeutics, Inc. (NASDAQ:HRTX) traded down 2.67% during mid-day trading on Thursday, hitting $14.60. The company had a trading volume of 961,415 shares. The stock’s 50-day moving average is $13.26 and its 200-day moving average is $16.24. Heron Therapeutics, Inc. has a 52-week low of $12.21 and a 52-week high of $25.46.
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HRTX has been the subject of a number of research analyst reports. Cantor Fitzgerald reissued a “buy” rating and issued a $34.00 target price on shares of Heron Therapeutics in a research report on Thursday, November 10th. Zacks Investment Research raised Heron Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 23rd. JMP Securities reissued a “buy” rating on shares of Heron Therapeutics in a research report on Wednesday, November 9th. Aegis initiated coverage on Heron Therapeutics in a research report on Wednesday, October 26th. They issued a “buy” rating and a $41.00 target price for the company. Finally, Cowen and Company reissued a “buy” rating and issued a $40.00 target price on shares of Heron Therapeutics in a research report on Sunday, December 11th. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $37.75.
In related news, Director Kevin C. Tang acquired 2,459,016 shares of the business’s stock in a transaction on Thursday, January 19th. The shares were bought at an average cost of $12.20 per share, with a total value of $29,999,995.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 20.31% of the company’s stock.
About Heron Therapeutics
Heron Therapeutics, Inc is a biotechnology company engaged in developing pharmaceutical products for patients suffering from cancer or pain. The Company’s product candidates include SUSTOL, HTX-019 and HTX-011. All of its product candidates utilize science and technology platforms, including its Biochronomer drug delivery technology.
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