Broadfin Capital LLC Upped Its Heron Therapeutics INC (HRTX) Stake by $50.48 Million; Share Price Declined

February 21, 2018 - By Rodney Autry

Kevin Kotler increased its stake in Heron Therapeutics Inc (HRTX) by 1048.46% based on its latest 2017Q3 regulatory filing with the SEC. Broadfin Capital Llc bought 3.15 million shares as the company’s stock declined 1.40% while stock markets rallied. The hedge fund run by Kevin Kotler held 3.46M shares of the health care company at the end of 2017Q3, valued at $55.81 million, up from 300,900 at the end of the previous reported quarter. Broadfin Capital Llc who had been investing in Heron Therapeutics Inc for a number of months, seems to be bullish on the $1.46 billion market cap company. The stock increased 0.44% or $0.1 during the last trading session, reaching $22.6. About 828,702 shares traded. Heron Therapeutics, Inc. (NASDAQ:HRTX) has declined 20.92% since February 21, 2017 and is downtrending. It has underperformed by 37.62% the S&P500.

Broadfin Capital Llc, which manages about $1.26 billion and $676.01 million US Long portfolio, decreased its stake in Avadel Pharmaceuticals Plc by 565,342 shares to 3.57M shares, valued at $37.47M in 2017Q3, according to the filing. It also reduced its holding in Alnylam Pharmaceuticals Inc (NASDAQ:ALNY) by 106,992 shares in the quarter, leaving it with 74,208 shares, and cut its stake in Zogenix Inc.

More recent Heron Therapeutics, Inc. (NASDAQ:HRTX) news were published by: Seekingalpha.com which released: “Heron Therapeutics: Updates To Thesis And Catalysts Coming Up” on February 19, 2018. Also Seekingalpha.com published the news titled: “Biotech Forum Daily Digest For January 29th” on January 29, 2018. Seekingalpha.com‘s news article titled: “Is There Further Upside In Heron Therapeutics?” with publication date: January 31, 2018 was also an interesting one.

Heron Therapeutics, Inc. (NASDAQ:HRTX) Ratings Coverage

Among 13 analysts covering Heron Therapeutics (NASDAQ:HRTX), 13 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Heron Therapeutics had 33 analyst reports since August 3, 2015 according to SRatingsIntel. As per Wednesday, September 2, the company rating was initiated by Bank of America. Cowen & Co maintained Heron Therapeutics, Inc. (NASDAQ:HRTX) rating on Wednesday, December 6. Cowen & Co has “Buy” rating and $40.0 target. The firm earned “Buy” rating on Wednesday, September 23 by Jefferies. As per Thursday, December 14, the company rating was maintained by Oppenheimer. The rating was maintained by Cowen & Co on Thursday, August 3 with “Buy”. Cowen & Co maintained Heron Therapeutics, Inc. (NASDAQ:HRTX) on Monday, November 6 with “Buy” rating. The firm earned “Buy” rating on Thursday, July 13 by Jefferies. Jefferies maintained Heron Therapeutics, Inc. (NASDAQ:HRTX) on Tuesday, August 15 with “Buy” rating. Jefferies maintained the stock with “Buy” rating in Monday, June 12 report. As per Wednesday, October 26, the company rating was initiated by Aegis Capital.

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