Heron Therapeutics (NASDAQ:HRTX) Lowered to “Hold” Rating by StockNews.com

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

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

Heron Therapeutics Stock Up 3.3 %

Shares of HRTX stock opened at $1.58 on Thursday. The firm has a 50 day moving average of $1.56 and a 200-day moving average of $2.23. The company has a market cap of $240.31 million, a price-to-earnings ratio of -8.78 and a beta of 1.67. Heron Therapeutics has a 52 week low of $1.04 and a 52 week high of $3.93.

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 during the quarter, compared to the consensus estimate of $36.40 million. During the same period last year, the firm posted ($0.17) earnings per share. Analysts anticipate that Heron Therapeutics will post -0.13 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Marshall Wace LLP raised its holdings in shares of Heron Therapeutics by 256.2% in the 2nd quarter. Marshall Wace LLP now owns 1,761,051 shares of the biotechnology company’s stock worth $6,164,000 after acquiring an additional 1,266,697 shares during the last quarter. Clearline Capital LP increased its holdings in Heron Therapeutics by 48.9% during the 3rd quarter. Clearline Capital LP now owns 2,226,512 shares of the biotechnology company’s stock worth $4,431,000 after purchasing an additional 731,246 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Heron Therapeutics by 1,460.9% in the second quarter. AQR Capital Management LLC now owns 607,135 shares of the biotechnology company’s stock worth $2,125,000 after purchasing an additional 568,238 shares during the last quarter. Congress Park Capital LLC lifted its holdings in shares of Heron Therapeutics by 25.3% in the third quarter. Congress Park Capital LLC now owns 1,978,078 shares of the biotechnology company’s stock valued at $3,936,000 after purchasing an additional 399,577 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its position in shares of Heron Therapeutics by 369.0% during the second quarter. Squarepoint Ops LLC now owns 363,700 shares of the biotechnology company’s stock valued at $1,273,000 after buying an additional 286,160 shares during the last quarter. 80.01% of the stock is currently owned by institutional investors and hedge funds.

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.