Christopher Medlock Doesn’t Think Heron Therapeutics Inc (HRTX)’s Gains This Year Will Stop At A Mere 220%

The smart money is generally staying put with Heron Therapeutics Inc (NASDAQ:HRTX) despite the stock showing considerable gains this year. Among the funds that we track, 18 had a total investment of $234.65 million at the end of March compared to the same number funds holding $160.83 million in shares at the end of the previous quarter. While it may seem that the investment in the company increased considerably, in fact the stock appreciated by some 41.3% during the first three months, which explains most of the hiking in the funds’ investments in the company, which were raised by about 46%. However, the stock price didn’t just stop there and the current year-to-date gains now amount to more than 220% after a monster second quarter during which shares more than doubled in value. In comparison, the specialty & generic drug manufacturers industry has ‘only’ posted average gains of 21.88% so far this year, according to Morningstar data. Recently Cowen & Company initiated coverage on Heron Therapeutics Inc (NASDAQ:HRTX) with an ‘Outperform’ rating and a $40 price target, which provides an upside of about 25% to the current trading level.

Kevin C. Tang‘s Tang Capital Management and Broadfin Capital managed by Kevin Kotler are the two largest investors of Heron Therapeutics Inc (NASDAQ:HRTX), among those that we keep track of.  Their respective holdings stood at 4.92 million shares valued at $71.58 million and 2.81 million shares valued at $40.86 million, as of the end of the first trimester.

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