Highland Capital Management LP reduced its position in Heron Therapeutics Inc (NASDAQ:HRTX) by 6.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 845,042 shares of the biotechnology company’s stock after selling 58,815 shares during the period. Heron Therapeutics comprises approximately 1.5% of Highland Capital Management LP’s holdings, making the stock its 10th biggest holding. Highland Capital Management LP’s holdings in Heron Therapeutics were worth $26,746,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in HRTX. Cubist Systematic Strategies LLC purchased a new stake in Heron Therapeutics in the 2nd quarter worth approximately $151,000. Jefferies Group LLC purchased a new stake in Heron Therapeutics in the 3rd quarter worth approximately $202,000. Public Employees Retirement Association of Colorado purchased a new stake in Heron Therapeutics in the 3rd quarter worth approximately $224,000. Great West Life Assurance Co. Can grew its stake in Heron Therapeutics by 65.6% in the 3rd quarter. Great West Life Assurance Co. Can now owns 7,611 shares of the biotechnology company’s stock worth $240,000 after acquiring an additional 3,016 shares during the period. Finally, Fox Run Management L.L.C. purchased a new stake in Heron Therapeutics in the 3rd quarter worth approximately $249,000.

Shares of NASDAQ HRTX opened at $27.88 on Friday. Heron Therapeutics Inc has a 52-week low of $15.00 and a 52-week high of $42.90. The firm has a market cap of $2.18 billion, a PE ratio of 7.64 and a beta of 1.48.

Heron Therapeutics (NASDAQ:HRTX) last announced its quarterly earnings data on Wednesday, November 7th. The biotechnology company reported ($0.49) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.44) by ($0.05). Heron Therapeutics had a negative net margin of 326.79% and a negative return on equity of 72.23%. The company had revenue of $19.79 million for the quarter, compared to analysts’ expectations of $19.84 million. During the same period in the prior year, the firm earned ($0.77) earnings per share. The firm’s quarterly revenue was up 130.9% on a year-over-year basis. As a group, sell-side analysts predict that Heron Therapeutics Inc will post -2.34 earnings per share for the current fiscal year.

HRTX has been the subject of several recent analyst reports. Cantor Fitzgerald set a $50.00 target price on shares of Heron Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, October 30th. BidaskClub raised shares of Heron Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, December 1st. Zacks Investment Research cut shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, November 13th. ValuEngine cut shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, September 4th. Finally, Stifel Nicolaus initiated coverage on shares of Heron Therapeutics in a research note on Thursday, September 13th. They issued a “buy” rating and a $55.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $52.09.

In related news, VP Kimberly Manhard sold 6,000 shares of Heron Therapeutics stock in a transaction on Monday, October 1st. The shares were sold at an average price of $32.07, for a total transaction of $192,420.00. Following the transaction, the vice president now owns 6,000 shares in the company, valued at approximately $192,420. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kevin C. Tang sold 2,695,000 shares of Heron Therapeutics stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $35.75, for a total transaction of $96,346,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,701,494 shares of company stock worth $96,553,796 in the last 90 days. Company insiders own 16.20% of the company’s stock.

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About Heron Therapeutics

Heron Therapeutics, Inc, a biotechnology company, engages in developing medicines to address unmet medical needs. The company's product candidates utilize its proprietary Biochronomer 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.

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Institutional Ownership by Quarter for Heron Therapeutics (NASDAQ:HRTX)

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