Heron Therapeutics (NASDAQ:HRTX) Hits New 12-Month Low at $8.22

Heron Therapeutics, Inc. (NASDAQ:HRTX)’s share price hit a new 52-week low during trading on Friday . The company traded as low as $8.22 and last traded at $8.22, with a volume of 18882 shares trading hands. The stock had previously closed at $8.30.

Separately, Zacks Investment Research raised Heron Therapeutics from a “sell” rating to a “buy” rating and set a $9.75 target price for the company in a research report on Tuesday.

The company has a debt-to-equity ratio of 1.25, a quick ratio of 3.78 and a current ratio of 4.36. The business has a 50 day simple moving average of $9.76 and a 200-day simple moving average of $11.16.

Heron Therapeutics (NASDAQ:HRTX) last released its quarterly earnings results on Wednesday, November 3rd. The biotechnology company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.09. The business had revenue of $23.23 million during the quarter, compared to the consensus estimate of $25.04 million. Heron Therapeutics had a negative return on equity of 128.33% and a negative net margin of 264.58%. During the same quarter in the previous year, the business earned ($0.64) EPS. Equities research analysts expect that Heron Therapeutics, Inc. will post -2.3 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in HRTX. Point72 Asset Management L.P. boosted its stake in shares of Heron Therapeutics by 557.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,600,486 shares of the biotechnology company’s stock worth $17,109,000 after buying an additional 1,357,037 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Heron Therapeutics by 37.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,510,102 shares of the biotechnology company’s stock worth $69,997,000 after buying an additional 1,236,981 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Heron Therapeutics by 131.2% in the 3rd quarter. Goldman Sachs Group Inc. now owns 1,601,856 shares of the biotechnology company’s stock worth $17,125,000 after buying an additional 908,890 shares during the last quarter. Vanguard Group Inc. lifted its stake in Heron Therapeutics by 9.8% in the second quarter. Vanguard Group Inc. now owns 9,319,728 shares of the biotechnology company’s stock valued at $144,643,000 after purchasing an additional 828,512 shares during the last quarter. Finally, Palisade Capital Management LLC NJ lifted its stake in Heron Therapeutics by 71.0% in the second quarter. Palisade Capital Management LLC NJ now owns 1,819,131 shares of the biotechnology company’s stock valued at $28,233,000 after purchasing an additional 755,397 shares during the last quarter.

About Heron Therapeutics (NASDAQ:HRTX)

Heron Therapeutics, Inc is a biotechnology company, which engages in the development of pharmaceutical products for patients suffering from cancer. Its products portfolio include SUSTOL, Cinvanti, HTX-011 and HTX-034. The company was founded in February 1983 and is headquartered in San Diego, CA.

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