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

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

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

Heron Therapeutics Price Performance

Shares of Heron Therapeutics stock opened at $1.47 on Monday. The firm has a market cap of $223.58 million, a price-to-earnings ratio of -8.17 and a beta of 1.60. The stock has a 50-day simple moving average of $1.49 and a 200-day simple moving average of $1.99. 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 earnings results on Tuesday, November 12th. The biotechnology company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). The business had revenue of $32.81 million during the quarter, compared to analyst estimates of $36.40 million. During the same quarter last year, the firm earned ($0.17) earnings per share. As a group, equities research analysts predict that Heron Therapeutics will post -0.13 earnings per share for the current year.

Institutional Trading of Heron Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Cutter & CO Brokerage Inc. acquired a new position in Heron Therapeutics in the 3rd quarter valued at $39,000. Y Intercept Hong Kong Ltd bought a new stake in Heron Therapeutics during the third quarter valued at about $39,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Heron Therapeutics in the second quarter valued at about $41,000. Sei Investments Co. acquired a new stake in shares of Heron Therapeutics in the second quarter valued at about $44,000. Finally, Capstone Investment Advisors LLC bought a new position in shares of Heron Therapeutics in the third quarter worth about $45,000. 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.