Heron Therapeutics Target of Unusually High Options Trading (NASDAQ:HRTX)
by Kim Johansen · The Markets DailyHeron Therapeutics, Inc. (NASDAQ:HRTX – Get Free Report) was the target of unusually large options trading on Wednesday. Traders purchased 41,952 put options on the company. This represents an increase of approximately 22,951% compared to the average daily volume of 182 put options.
Institutional Investors Weigh In On Heron Therapeutics
A number of large investors have recently added to or reduced their stakes in HRTX. R Squared Ltd bought a new stake in shares of Heron Therapeutics in the first quarter worth $27,000. HORAN Wealth LLC bought a new position in Heron Therapeutics in the first quarter valued at about $33,000. Ieq Capital LLC purchased a new position in Heron Therapeutics in the second quarter worth about $41,000. Deutsche Bank AG purchased a new position in Heron Therapeutics in the second quarter worth about $41,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Heron Therapeutics by 335.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 35,106 shares of the biotechnology company’s stock valued at $46,000 after purchasing an additional 27,040 shares during the period. Institutional investors own 80.01% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on HRTX. Wall Street Zen upgraded shares of Heron Therapeutics to a “sell” rating in a report on Saturday, August 8th. Zacks Research upgraded shares of Heron Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, August 3rd. HC Wainwright cut shares of Heron Therapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of Heron Therapeutics in a research note on Friday, July 17th. Finally, Needham & Company LLC downgraded shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $2.00.
Get Our Latest Stock Analysis on HRTX
Heron Therapeutics Stock Up 1.6%
Shares of HRTX stock traded up $0.01 during mid-day trading on Wednesday, hitting $0.32. The company’s stock had a trading volume of 277,342 shares, compared to its average volume of 2,493,484. Heron Therapeutics has a 52-week low of $0.30 and a 52-week high of $1.57. The business has a 50-day moving average price of $0.39 and a 200 day moving average price of $0.66. The company has a debt-to-equity ratio of 24.35, a quick ratio of 1.51 and a current ratio of 2.49. The stock has a market cap of $60.56 million, a price-to-earnings ratio of -1.68 and a beta of 1.61.
Heron Therapeutics (NASDAQ:HRTX – Get Free Report) last posted its earnings results on Monday, August 10th. The biotechnology company reported ($0.03) earnings per share (EPS) for the quarter. Heron Therapeutics had a negative net margin of 22.52% and a negative return on equity of 293.02%. The company had revenue of $37.67 million for the quarter, compared to the consensus estimate of $42.19 million. Research analysts predict that Heron Therapeutics will post -0.14 EPS for the current fiscal year.
Heron Therapeutics Company Profile
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.