Orbimed Advisors LLC Makes New Investment in Heron Therapeutics, Inc. $HRTX

Orbimed Advisors LLC acquired a new stake in Heron Therapeutics, Inc. (NASDAQ:HRTX) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,816,940 shares of the biotechnology company’s stock, valued at approximately $7,855,000. Orbimed Advisors LLC owned 5.19% of Heron Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in HRTX. SG Americas Securities LLC grew its holdings in shares of Heron Therapeutics by 39.1% during the fourth quarter. SG Americas Securities LLC now owns 24,377 shares of the biotechnology company’s stock worth $32,000 after buying an additional 6,858 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Heron Therapeutics by 5.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 241,048 shares of the biotechnology company’s stock valued at $499,000 after acquiring an additional 11,716 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in Heron Therapeutics during the 2nd quarter valued at approximately $26,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Heron Therapeutics by 19.3% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,756 shares of the biotechnology company’s stock worth $173,000 after acquiring an additional 13,544 shares during the period. Finally, Advisory Services Network LLC lifted its position in Heron Therapeutics by 2,383.4% during the 4th quarter. Advisory Services Network LLC now owns 18,874 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 18,114 shares during the period. 80.01% of the stock is owned by hedge funds and other institutional investors.

Heron Therapeutics Stock Performance

Shares of HRTX stock opened at $0.46 on Monday. The business’s fifty day moving average price is $0.53 and its 200 day moving average price is $0.90. The firm has a market capitalization of $86.27 million, a PE ratio of -2.53 and a beta of 1.65. The company has a debt-to-equity ratio of 17.51, a current ratio of 2.53 and a quick ratio of 1.51. Heron Therapeutics, Inc. has a 1-year low of $0.38 and a 1-year high of $1.93.

Heron Therapeutics (NASDAQ:HRTX) last released its earnings results on Monday, May 11th. The biotechnology company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). Heron Therapeutics had a negative net margin of 20.53% and a negative return on equity of 7,747.30%. The business had revenue of $34.71 million during the quarter, compared to analyst estimates of $36.72 million. As a group, sell-side analysts forecast that Heron Therapeutics, Inc. will post -0.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

HRTX has been the topic of a number of recent research reports. Zacks Research lowered Heron Therapeutics from a “hold” rating to a “strong sell” rating in a report on Monday, April 27th. Needham & Company LLC downgraded Heron Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, June 2nd. Wall Street Zen lowered shares of Heron Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. HC Wainwright dropped their price objective on shares of Heron Therapeutics to $2.00 and set a “buy” rating on the stock in a research note on Wednesday, June 3rd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Heron Therapeutics in a research report on Friday, July 17th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $2.50.

About Heron Therapeutics

Heron Therapeutics, Inc is a commercial-stage biotechnology company focused on developing and commercializing therapies in pain management and supportive care for patients undergoing medical and surgical procedures. The company’s research is dedicated to addressing unmet needs in oncology supportive care and post-operative pain management through innovative drug formulations designed to improve patient outcomes and reduce reliance on opioids.

Heron’s first approved therapy, SUSTOL (granisetron) extended-release injection, received U.S.