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

StockNews.com downgraded shares of Heron Therapeutics (NASDAQ:HRTX) from a buy rating to a hold rating in a report released on Wednesday.

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Heron Therapeutics in a research note on Wednesday, December 4th.

Heron Therapeutics Stock Performance

NASDAQ:HRTX opened at $1.67 on Wednesday. The stock has a 50-day simple moving average of $1.54 and a two-hundred day simple moving average of $1.88. The firm has a market capitalization of $254.01 million, a PE ratio of -9.28 and a beta of 1.60. 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, hitting analysts’ consensus estimates of ($0.03). The firm had revenue of $32.81 million during the quarter, compared to the consensus estimate of $36.40 million. During the same quarter in the previous year, the company earned ($0.17) earnings per share. Equities analysts forecast that Heron Therapeutics will post -0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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