Heron Therapeutics (NASDAQ:HRTX) Rating Lowered 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 released on Thursday.

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

Heron Therapeutics Price Performance

Shares of NASDAQ HRTX opened at $1.07 on Thursday. Heron Therapeutics has a 1 year low of $1.04 and a 1 year high of $3.93. The stock has a market capitalization of $162.75 million, a P/E ratio of -5.94 and a beta of 1.81. The company has a 50-day moving average price of $1.75 and a 200-day moving average price of $2.45.

Heron Therapeutics (NASDAQ:HRTX) last posted its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). The firm had revenue of $32.81 million during the quarter, compared to analysts’ expectations of $36.40 million. During the same quarter last year, the business posted ($0.17) EPS. As a group, equities research analysts anticipate that Heron Therapeutics will post -0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. nVerses Capital LLC purchased a new position in shares of Heron Therapeutics in the 2nd quarter worth approximately $27,000. HB Wealth Management LLC purchased a new position in Heron Therapeutics during the 2nd quarter worth $35,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of Heron Therapeutics during the second quarter valued at $41,000. Sei Investments Co. purchased a new stake in Heron Therapeutics in the second quarter worth about $44,000. Finally, Valeo Financial Advisors LLC bought a new position in Heron Therapeutics during the 2nd quarter worth about $45,000. 80.01% of the stock is owned by hedge funds and other institutional investors.

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.