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 Monday morning.

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

Heron Therapeutics Price Performance

HRTX stock opened at $1.52 on Monday. Heron Therapeutics has a 12 month low of $1.04 and a 12 month high of $3.93. The firm’s 50-day moving average is $1.48 and its 200 day moving average is $1.97. The company has a market capitalization of $231.18 million, a PE ratio of -8.44 and a beta of 1.60.

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

Institutional Investors Weigh In On Heron Therapeutics

Hedge funds have recently modified their holdings of the business. Cutter & CO Brokerage Inc. bought a new position in Heron Therapeutics in the third quarter worth approximately $39,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Heron Therapeutics in the 3rd quarter valued at $39,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of Heron Therapeutics in the 2nd quarter valued at $41,000. Sei Investments Co. bought a new position in shares of Heron Therapeutics in the 2nd quarter worth $44,000. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Heron Therapeutics during the 3rd quarter worth $45,000. Hedge funds and other institutional investors own 80.01% of the company’s stock.

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.