Laurion Capital Management LP Buys New Position in Heron Therapeutics Inc (HRTX)
Laurion Capital Management LP purchased a new stake in shares of Heron Therapeutics Inc (NASDAQ:HRTX) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 87,103 shares of the biotechnology company’s stock, valued at approximately $2,757,000.
Other institutional investors have also recently made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new stake in shares of Heron Therapeutics during the 2nd quarter valued at about $151,000. Public Employees Retirement Association of Colorado acquired a new stake in shares of Heron Therapeutics during the 3rd quarter valued at about $224,000. Great West Life Assurance Co. Can lifted its holdings in shares of Heron Therapeutics by 65.6% during the 3rd quarter. Great West Life Assurance Co. Can now owns 7,611 shares of the biotechnology company’s stock valued at $240,000 after buying an additional 3,016 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Heron Therapeutics during the 3rd quarter valued at about $249,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Heron Therapeutics during the 3rd quarter valued at about $255,000.
In related news, Director Kevin C. Tang sold 2,695,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $35.75, for a total value of $96,346,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Kimberly Manhard sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $32.07, for a total value of $192,420.00. Following the completion of the sale, the vice president now owns 6,000 shares of the company’s stock, valued at $192,420. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,701,494 shares of company stock valued at $96,553,796. Corporate insiders own 16.20% of the company’s stock.
Heron Therapeutics (NASDAQ:HRTX) last posted its earnings results on Wednesday, November 7th. The biotechnology company reported ($0.49) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.44) by ($0.05). Heron Therapeutics had a negative return on equity of 72.23% and a negative net margin of 326.79%. The company had revenue of $19.79 million during the quarter, compared to analyst estimates of $19.84 million. During the same quarter last year, the firm posted ($0.77) earnings per share. The firm’s revenue for the quarter was up 130.9% compared to the same quarter last year. On average, analysts anticipate that Heron Therapeutics Inc will post -2.34 EPS for the current fiscal year.
Several brokerages have recently issued reports on HRTX. BidaskClub upgraded Heron Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, December 1st. Zacks Investment Research lowered Heron Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, November 13th. Cantor Fitzgerald set a $50.00 price target on Heron Therapeutics and gave the company a “buy” rating in a report on Tuesday, October 30th. Stifel Nicolaus began coverage on Heron Therapeutics in a report on Thursday, September 13th. They set a “buy” rating and a $55.00 price target for the company. Finally, ValuEngine lowered Heron Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $52.09.
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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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