Healthcare firm Heron Therapeutics (NASDAQ:HRTX) shot up substantially in Monday afternoon trading thanks to details emerging about new investors. The latest jump focused on Rubric Capital, which recently disclosed an ownership stake of roughly 10% in Heron Therapeutics. Currently, reports note that Heron Therapeutics stock is a “high-risk investment.” That’s thanks largely to how Heron “…continues to accumulate excessive ongoing losses…”
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However, Heron’s current release slate proves attractive nonetheless. Its drug delivery system, Biochronomer, as well as its local anesthetic Zynrelef, among others, are drawing further interest. Early efforts proved disappointing at Heron, but it has since put particular effort into expanding the line. These efforts proved successful, and based on current analyst consensus, Heron Therapeutics stock has as much as 176.07% upside potential.
In fact, it was just last week that BlackRock filed a 13 G/A form that revealed it had an ownership stake just a bit smaller than Rubric Capital’s. BlackRock’s stake came in at 8.1% of the company, which was up from 7.5% as of a previous filing.
Interestingly, more hedge funds are taking active positions in Heron Therapeutics. Hedge fund confidence in Heron is considered Very Positive, having added 882,800 shares to their holdings last quarter.
