Stock Traders Purchase High Volume of Call Options on Heron Therapeutics (NASDAQ:HRTX)

Heron Therapeutics, Inc. (NASDAQ:HRTX) saw unusually large options trading on Wednesday. Stock investors purchased 5,176 call options on the company. This represents an increase of 907% compared to the average daily volume of 514 call options.

Institutional Investors Weigh In On Heron Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of HRTX. nVerses Capital LLC purchased a new position in shares of Heron Therapeutics in the 2nd quarter valued at approximately $27,000. HB Wealth Management LLC purchased a new position in shares of Heron Therapeutics in the second quarter worth $35,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Heron Therapeutics during the second quarter worth $41,000. Sei Investments Co. purchased a new stake in shares of Heron Therapeutics during the second quarter valued at $44,000. Finally, Valeo Financial Advisors LLC acquired a new position in shares of Heron Therapeutics in the 2nd quarter valued at $45,000. Hedge funds and other institutional investors own 80.01% of the company’s stock.

Heron Therapeutics Stock Performance

NASDAQ:HRTX traded up $0.06 during trading hours on Wednesday, reaching $1.16. The company’s stock had a trading volume of 990,506 shares, compared to its average volume of 2,388,614. The company has a market capitalization of $176.44 million, a P/E ratio of -6.36 and a beta of 1.81. The stock has a 50 day moving average price of $1.72 and a two-hundred day moving average price of $2.43. Heron Therapeutics has a 12 month low of $1.04 and a 12 month high of $3.93.

Heron Therapeutics (NASDAQ:HRTX) last issued its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). The company had revenue of $32.81 million for the quarter, compared to the consensus estimate of $36.40 million. During the same period in the previous year, the business earned ($0.17) EPS. As a group, analysts predict that Heron Therapeutics will post -0.13 EPS for the current fiscal year.

Analysts Set New Price Targets

HRTX has been the topic of several analyst reports. Needham & Company LLC cut their price target on shares of Heron Therapeutics from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. StockNews.com lowered shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, November 21st.

Heron Therapeutics Company Profile

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.