Heron Therapeutics (NASDAQ:HRTX) Cut to Hold at StockNews.com

StockNews.com lowered shares of Heron Therapeutics (NASDAQ:HRTX) from a buy rating to a hold rating in a research report report published on Tuesday.

Separately, Needham & Company LLC reissued a “buy” rating and issued a $4.00 target price on shares of Heron Therapeutics in a report on Wednesday, December 4th.

Heron Therapeutics Stock Performance

Shares of HRTX stock opened at $1.60 on Tuesday. The stock has a fifty day simple moving average of $1.51 and a two-hundred day simple moving average of $2.08. Heron Therapeutics has a 52-week low of $1.04 and a 52-week high of $3.93. The firm has a market capitalization of $243.35 million, a PE ratio of -8.89 and a beta of 1.67.

Heron Therapeutics (NASDAQ:HRTX) last released its earnings results on Tuesday, November 12th. The biotechnology company reported ($0.03) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.03). The business had revenue of $32.81 million for the quarter, compared to analysts’ expectations of $36.40 million. During the same quarter in the prior year, the business posted ($0.17) EPS. On average, sell-side analysts forecast that Heron Therapeutics will post -0.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Heron Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings in shares of Heron Therapeutics by 33.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 449,212 shares of the biotechnology company’s stock worth $1,572,000 after acquiring an additional 113,655 shares in the last quarter. nVerses Capital LLC purchased a new stake in Heron Therapeutics during the second quarter valued at $27,000. Rhumbline Advisers raised its stake in Heron Therapeutics by 31.5% during the second quarter. Rhumbline Advisers now owns 184,472 shares of the biotechnology company’s stock valued at $646,000 after purchasing an additional 44,230 shares in the last quarter. Acadian Asset Management LLC bought a new position in Heron Therapeutics during the second quarter valued at $127,000. Finally, Headlands Technologies LLC grew its stake in shares of Heron Therapeutics by 731.3% in the 2nd quarter. Headlands Technologies LLC now owns 90,495 shares of the biotechnology company’s stock worth $317,000 after buying an additional 79,609 shares in the last quarter. 80.01% of the stock is owned by institutional investors.

Heron Therapeutics Company Profile

Heron Therapeutics, Inc, a commercial-stage biotechnology company, focuses on enhancing the lives of patients by developing and commercializing therapeutic that enhances medical care. The company's product candidates utilize its proprietary Biochronomer, a drug delivery technology, which delivers therapeutic levels of a range of short-acting pharmacological agents over a period from days to weeks with a single administration.