What is the 13F Pro Quality Score for HRTX?

13F Pro ranks HERON THERAPEUTICS, INC. /DE/ (HRTX) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View HRTX's current score at https://13fpro.ai/research/HRTX (free sign-up required for the full ranking).

Which hedge funds own the most HRTX stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of HRTX include Rubric Capital Management, Clearline Capital, BlackRock,. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/research/HRTX as soon as new 13F filings post.

Where does 13F Pro source HRTX data?

All HERON THERAPEUTICS, INC. /DE/ fundamentals and ownership data come directly from SEC EDGAR. HERON THERAPEUTICS, INC. /DE/ files with the SEC under CIK 818033. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is HRTX in?

HERON THERAPEUTICS, INC. /DE/ (HRTX) is classified in the Healthcare sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/healthcare.

How often is HRTX research updated on 13F Pro?

HRTX's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

HERON THERAPEUTICS, INC. /DE/(HRTX)Stock Analysis

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13F Pro Quality Score

30.6/100

Rank #2,347 of 2,879 stocks

View Healthcare peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

60.5/100

Profitability

21.1/100

Balance Sheet

17.6/100

Earnings Quality

30.0/100

Free Cash Flow

16.5/100

Institutional Flow

68.2/100

Revenue Scale

21.1/100

Dilution Risk

22.0/100

HRTX Stock Analysis & AI Quality Score

AI stock analysis and institutional research for HERON THERAPEUTICS, INC. /DE/ (HRTX), a Healthcare sector company. 13F Pro's AI-powered ranking engine scores HRTX at 30.6/100 on a 32-signal composite quality model, placing it at rank #2,347 of 2,879 stocks — the bottom half of the AI-ranked universe. Areas of concern include free cash flow (16.5) and balance sheet strength (17.6), which score below median versus the broader universe. Shareholder dilution risk is elevated at 22.0/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), HERON THERAPEUTICS, INC. /DE/ reports quarterly revenue of $34.7M, net income of $-8.1M, an operating margin of -13.7%. Top institutional holders of HRTX by reported 13-F value include Rubric Capital Management, Clearline Capital, BlackRock,, based on the most recent SEC filings. HRTX trades on the Nasdaq exchange and files with the SEC under CIK 818033. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate HRTX daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for HERON THERAPEUTICS, INC. /DE/ directly from SEC EDGAR. HERON THERAPEUTICS, INC. /DE/'s 13F Pro composite quality score has ranged between 30 and 31 since 2026, currently 30.6 — a stable long-term trajectory across 8 quarterly and live scoring snapshots.

✦

Fun facts about HERON THERAPEUTICS, INC. /DE/

Quirks, history, and lore behind HRTX — the kind of stuff that makes a stock memorable.

1
The Basics
U.S. specialty pharmaceutical company · small-cap · listed on Nasdaq · headquartered in San Diego, California.
2
The Numbers
Annual revenue in the low hundreds of millions of dollars, with a focus on keeping its commercial product count tight — this is not a sprawling drug empire, it's a specialist.
3
The History
Founded in the early 2000s, the company spent years in clinical development before building a commercial-stage oncology and pain management portfolio.
4
The Secret
Its niche is post-surgical and acute pain plus chemotherapy-induced nausea — drugs that hospitals reach for right after the scary stuff is over.
5
The Lore
Its drug SUSTOL was a novel extended-release formulation designed to outlast standard nausea meds, and ZYNRELEF aimed to reduce opioid use after surgery — two products trying to quietly fix medicine's messiest moments.
6
The Giveaway
Named after a wading bird, this San Diego biotech trades under the ticker HRTX and built its identity around making post-surgical recovery a little less miserable.

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Revenue

Q1 2026

$34.7M

Net Income

Q1 2026

$-8.1M

Free Cash Flow

Q1 2026

$-1.9M

Operating Margin

Q1 2026

-13.7%

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

+47.1% YoY

$127.0MFY 2023

FY19 $146.0MFY20 $88.6MFY21 $86.3MFY23 $127.0M

Net Income

+50.0% YoY

$-110.6MFY 2023

FY19 $-204.7MFY20 $-227.3MFY21 $-221.0MFY23 $-110.6M

Operating Income

+49.2% YoY

$-110.6MFY 2023

FY19 $-210.7MFY20 $-228.2MFY21 $-217.8MFY23 $-110.6M

EPS (Diluted)

+64.3% YoY

$-0.80FY 2023

FY19 —FY20 —FY21 $-2.24FY23 $-0.80

Total Assets

-27.2% YoY

$222.5MFY 2023

FY19 $512.8MFY20 $353.6MFY21 $305.7MFY23 $222.5M

Op. Cash Flow

+71.1% YoY

$-58.8MFY 2023

FY19 $-124.6MFY20 $-184.8MFY21 $-203.4MFY23 $-58.8M

Metric	FY 2023	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Revenue	$127.0M +47.1%	$86.3M -2.6%	$88.6M -39.3%	$146.0M +88.4%	$77.5M +151.8%	$30.8M
Net Income	$-110.6M +50.0%	$-221.0M +2.8%	$-227.3M -11.0%	$-204.7M -14.5%	$-178.8M +9.4%	$-197.5M
Operating Income	$-110.6M +49.2%	$-217.8M +4.5%	$-228.2M -8.3%	$-210.7M -14.5%	$-183.9M +5.5%	$-194.6M
EPS (Diluted)	$-0.80 +64.3%	$-2.24	—	—	—	—
Total Assets	$222.5M -27.2%	$305.7M -13.5%	$353.6M -31.1%	$512.8M +10.9%	$462.2M +97.3%	$234.3M
Operating Cash Flow	$-58.8M +71.1%	$-203.4M -10.0%	$-184.8M -48.4%	$-124.6M +35.0%	$-191.8M -12.6%	$-170.3M

AI Insight: HRTX Ratio Trends

HRTX margin trajectory remains deeply erratic, with Q1 2026 operating margin collapsing to -13.7% after two briefly profitable quarters in late 2024.

• Operating margin swung from -17.9% in Q2 2024 to a peak of 10.2% in Q4 2024, then deteriorated sharply to -13.7% in Q1 2026.

• Net profit margin plunged to -45.8% in Q3 2025 before partially recovering to -23.4% in Q1 2026 — still deeply negative.

• ROA turned positive at 6.3% in Q4 2024 and 4.5% in Q1 2025 but has since reverted to -13.2% in Q1 2026.

⚠ Profitability appears highly seasonal or driven by one-off items; sustainability of any positive quarter remains unproven.

⚠ ROE, ROIC, and D/E data are largely absent, leaving capital efficiency and leverage picture almost entirely opaque.

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Available Research

13F Pro tracks comprehensive data for HERON THERAPEUTICS, INC. /DE/ including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of HRTX

Rubric Capital Management LP
$24.0M30,046,828 sh
Clearline Capital LP
$9.8M12,235,239 sh
BlackRock, Inc.
$8.1M10,106,422 sh
ORBIMED ADVISORS LLC
$7.9M9,816,940 sh
Velan Capital Investment Management LP
$7.0M8,753,290 sh
VANGUARD CAPITAL MANAGEMENT LLC
$6.2M7,810,329 sh
MILLENNIUM MANAGEMENT LLC
$6.1M7,630,527 sh
Tejara Capital Ltd
$5.1M6,336,755 sh
TANG CAPITAL MANAGEMENT LLC
$5.0M6,250,000 sh
PALISADE CAPITAL MANAGEMENT, LP
$4.9M6,140,639 sh

Fund	Value	Shares
Rubric Capital Management LP	$24.0M	30,046,828
Clearline Capital LP	$9.8M	12,235,239
BlackRock, Inc.	$8.1M	10,106,422
ORBIMED ADVISORS LLC	$7.9M	9,816,940
Velan Capital Investment Management LP	$7.0M	8,753,290
VANGUARD CAPITAL MANAGEMENT LLC	$6.2M	7,810,329
MILLENNIUM MANAGEMENT LLC	$6.1M	7,630,527
Tejara Capital Ltd	$5.1M	6,336,755
TANG CAPITAL MANAGEMENT LLC	$5.0M	6,250,000
PALISADE CAPITAL MANAGEMENT, LP	$4.9M	6,140,639

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Is HRTX a good stock to buy?

13F Pro's AI-powered analysis of HERON THERAPEUTICS, INC. /DE/ (HRTX) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Healthcare sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for HRTX are available on the HRTX stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own HRTX?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling HRTX. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of HERON THERAPEUTICS, INC. /DE/'s investment landscape.