Heron Therapeutics (NASDAQ:HRTX) Releases Earnings Results

Heron Therapeutics (NASDAQ:HRTX) issued its earnings results on Monday. The biotechnology company reported ($0.03) earnings per share for the quarter, FiscalAI reports. Heron Therapeutics had a negative return on equity of 7,747.30% and a negative net margin of 20.53%.The business had revenue of $37.67 million for the quarter, compared to analyst estimates of $42.19 million.

Heron Therapeutics Price Performance

Shares of Heron Therapeutics stock opened at $0.49 on Monday. The company has a debt-to-equity ratio of 17.51, a current ratio of 2.53 and a quick ratio of 1.51. Heron Therapeutics has a 1-year low of $0.38 and a 1-year high of $1.57. The business’s fifty day moving average price is $0.45 and its two-hundred day moving average price is $0.84. The company has a market capitalization of $92.90 million, a P/E ratio of -2.73 and a beta of 1.65.

Institutional Investors Weigh In On Heron Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of HRTX. Invesco Ltd. lifted its holdings in Heron Therapeutics by 33.0% in the fourth quarter. Invesco Ltd. now owns 307,861 shares of the biotechnology company’s stock worth $400,000 after purchasing an additional 76,466 shares during the period. XTX Topco Ltd increased its stake in Heron Therapeutics by 687.6% during the 4th quarter. XTX Topco Ltd now owns 240,197 shares of the biotechnology company’s stock valued at $312,000 after buying an additional 209,700 shares during the period. Tang Capital Management LLC raised its position in shares of Heron Therapeutics by 81.2% during the 4th quarter. Tang Capital Management LLC now owns 6,250,000 shares of the biotechnology company’s stock worth $8,125,000 after buying an additional 2,800,000 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Heron Therapeutics during the 4th quarter worth about $296,000. Finally, Millennium Management LLC lifted its stake in shares of Heron Therapeutics by 2,785.2% in the 4th quarter. Millennium Management LLC now owns 7,169,908 shares of the biotechnology company’s stock worth $9,321,000 after acquiring an additional 6,921,405 shares during the period. 80.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Zacks Research raised shares of Heron Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, August 3rd. Wall Street Zen upgraded Heron Therapeutics to a “sell” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Heron Therapeutics in a report on Friday, July 17th. HC Wainwright lowered their target price on Heron Therapeutics to $2.00 and set a “buy” rating for the company in a report on Wednesday, June 3rd. Finally, Needham & Company LLC downgraded Heron Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, June 2nd. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Heron Therapeutics currently has an average rating of “Hold” and an average target price of $2.00.

About Heron Therapeutics

Heron Therapeutics, Inc is a commercial-stage biotechnology company focused on developing and commercializing therapies in pain management and supportive care for patients undergoing medical and surgical procedures. The company’s research is dedicated to addressing unmet needs in oncology supportive care and post-operative pain management through innovative drug formulations designed to improve patient outcomes and reduce reliance on opioids.

Heron’s first approved therapy, SUSTOL (granisetron) extended-release injection, received U.S.