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 report released on Wednesday.

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

Heron Therapeutics Stock Performance

Shares of HRTX opened at $1.70 on Wednesday. Heron Therapeutics has a one year low of $1.04 and a one year high of $3.93. The stock has a 50-day moving average price of $1.57 and a 200 day moving average price of $1.86. The company has a market capitalization of $258.56 million, a P/E ratio of -9.44 and a beta of 1.60.

Heron Therapeutics (NASDAQ:HRTX) last released its earnings results on Tuesday, November 12th. The biotechnology company reported ($0.03) EPS for the quarter, meeting 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 last year, the company posted ($0.17) earnings per share. As a group, equities research analysts forecast that Heron Therapeutics will post -0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Heron Therapeutics

A number of hedge funds have recently added to or reduced their stakes in HRTX. Cutter & CO Brokerage Inc. bought a new position in shares of Heron Therapeutics in the 3rd quarter worth about $39,000. Y Intercept Hong Kong Ltd bought a new position in Heron Therapeutics in the third quarter worth about $39,000. B. Riley Wealth Advisors Inc. acquired a new position in Heron Therapeutics in the second quarter valued at approximately $41,000. Sei Investments Co. bought a new position in shares of Heron Therapeutics during the second quarter valued at approximately $44,000. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of Heron Therapeutics during the 3rd quarter worth approximately $45,000. Institutional investors and hedge funds own 80.01% of the company’s stock.

About Heron Therapeutics

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.