Tejara Capital Ltd Takes Position in Heron Therapeutics, Inc. $HRTX

Tejara Capital Ltd acquired a new position in shares of Heron Therapeutics, Inc. (NASDAQ:HRTX) during the second quarter, HoldingsChannel reports. The fund acquired 6,510,795 shares of the biotechnology company’s stock, valued at approximately $2,779,000. Heron Therapeutics makes up approximately 1.1% of Tejara Capital Ltd’s portfolio, making the stock its 28th largest position.

Other hedge funds also recently added to or reduced their stakes in the company. Rubric Capital Management LP lifted its position in shares of Heron Therapeutics by 3.3% during the 4th quarter. Rubric Capital Management LP now owns 30,046,828 shares of the biotechnology company’s stock valued at $39,061,000 after acquiring an additional 946,100 shares during the period. Clearline Capital LP increased its stake in Heron Therapeutics by 26.0% in the 4th quarter. Clearline Capital LP now owns 12,235,239 shares of the biotechnology company’s stock valued at $15,906,000 after purchasing an additional 2,522,712 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its stake in Heron Therapeutics by 9.2% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 11,185,325 shares of the biotechnology company’s stock valued at $14,541,000 after purchasing an additional 946,100 shares in the last quarter. BlackRock Inc. purchased a new stake in Heron Therapeutics during the second quarter worth $4,503,000. Finally, Orbimed Advisors LLC purchased a new stake in Heron Therapeutics during the first quarter worth $7,855,000. 80.01% of the stock is owned by hedge funds and other institutional investors.

Heron Therapeutics Stock Down 1.9%

HRTX opened at $0.31 on Friday. The company has a debt-to-equity ratio of 24.35, a current ratio of 2.49 and a quick ratio of 1.51. The stock has a market capitalization of $58.66 million, a price-to-earnings ratio of -1.63 and a beta of 1.65. The business has a 50-day moving average of $0.43 and a two-hundred day moving average of $0.77. Heron Therapeutics, Inc. has a 12 month low of $0.30 and a 12 month high of $1.57.

Heron Therapeutics (NASDAQ:HRTX) last announced its quarterly earnings data on Monday, August 10th. The biotechnology company reported ($0.03) earnings per share for the quarter. Heron Therapeutics had a negative return on equity of 293.02% and a negative net margin of 22.52%.The company had revenue of $37.67 million for the quarter, compared to analysts’ expectations of $42.19 million. On average, research analysts expect that Heron Therapeutics, Inc. will post -0.14 earnings per share for the current year.

Analysts Set New Price Targets

HRTX has been the subject of several research reports. HC Wainwright downgraded Heron Therapeutics from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 11th. Weiss Ratings restated a “sell (e+)” rating on shares of Heron Therapeutics in a research report on Friday, July 17th. Zacks Research raised shares of Heron Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, August 3rd. Needham & Company LLC cut shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. Finally, Wall Street Zen raised Heron Therapeutics to a “sell” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $2.00.

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.