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

Heron Therapeutics (NASDAQ:HRTX) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Separately, Needham & Company LLC cut their target price on shares of Heron Therapeutics from $5.00 to $4.00 and set a “buy” rating for the company in a report on Wednesday, November 13th.

Heron Therapeutics Stock Up 0.9 %

Shares of HRTX stock opened at $1.07 on Thursday. The stock has a market cap of $162.75 million, a P/E ratio of -5.94 and a beta of 1.81. The company’s fifty day simple moving average is $1.75 and its two-hundred day simple moving average is $2.46. Heron Therapeutics has a 52 week low of $1.04 and a 52 week high of $3.93.

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

Institutional Investors Weigh In On Heron Therapeutics

Several institutional investors have recently modified their holdings of the stock. nVerses Capital LLC bought a new stake in Heron Therapeutics in the second quarter worth $27,000. HB Wealth Management LLC bought a new stake in shares of Heron Therapeutics in the 2nd quarter worth about $35,000. Cutter & CO Brokerage Inc. purchased a new position in shares of Heron Therapeutics during the 3rd quarter worth about $39,000. Y Intercept Hong Kong Ltd bought a new position in Heron Therapeutics during the 3rd quarter valued at about $39,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in Heron Therapeutics in the 2nd quarter worth about $41,000. 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.