Investors Purchase Large Volume of Call Options on Heron Therapeutics (NASDAQ:HRTX)

Heron Therapeutics, Inc. (NASDAQ:HRTX) was the target of some unusual options trading on Wednesday. Stock traders purchased 5,176 call options on the company. This represents an increase of 907% compared to the average daily volume of 514 call options.

Heron Therapeutics Trading Up 5.5 %

NASDAQ HRTX traded up $0.06 on Wednesday, reaching $1.16. 990,506 shares of the stock were exchanged, compared to its average volume of 2,388,614. The firm has a market capitalization of $176.44 million, a PE ratio of -6.36 and a beta of 1.81. Heron Therapeutics has a one year low of $1.04 and a one year high of $3.93. The company’s 50-day simple moving average is $1.72 and its two-hundred day simple moving average is $2.43.

Heron Therapeutics (NASDAQ:HRTX) last released its earnings results on Tuesday, November 12th. The biotechnology company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). The firm had revenue of $32.81 million for the quarter, compared to analysts’ expectations of $36.40 million. During the same quarter last year, the firm posted ($0.17) EPS. Sell-side analysts forecast that Heron Therapeutics will post -0.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on HRTX shares. Needham & Company LLC reduced their target price on shares of Heron Therapeutics from $5.00 to $4.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. StockNews.com lowered Heron Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, November 21st.

Hedge Funds Weigh In On Heron Therapeutics

Several hedge funds have recently modified their holdings of the stock. Marshall Wace LLP increased its stake in Heron Therapeutics by 256.2% in the 2nd quarter. Marshall Wace LLP now owns 1,761,051 shares of the biotechnology company’s stock worth $6,164,000 after acquiring an additional 1,266,697 shares during the last quarter. Clearline Capital LP lifted its position in Heron Therapeutics by 48.9% during the third quarter. Clearline Capital LP now owns 2,226,512 shares of the biotechnology company’s stock valued at $4,431,000 after purchasing an additional 731,246 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Heron Therapeutics by 1,460.9% in the 2nd quarter. AQR Capital Management LLC now owns 607,135 shares of the biotechnology company’s stock worth $2,125,000 after buying an additional 568,238 shares in the last quarter. Congress Park Capital LLC increased its holdings in shares of Heron Therapeutics by 25.3% in the 3rd quarter. Congress Park Capital LLC now owns 1,978,078 shares of the biotechnology company’s stock worth $3,936,000 after buying an additional 399,577 shares during the last quarter. Finally, Squarepoint Ops LLC raised its position in shares of Heron Therapeutics by 369.0% during the 2nd quarter. Squarepoint Ops LLC now owns 363,700 shares of the biotechnology company’s stock valued at $1,273,000 after buying an additional 286,160 shares in the last quarter. Hedge funds and other institutional investors own 80.01% of the company’s stock.

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.