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

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

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $4.00 target price on shares of Heron Therapeutics in a research report on Friday, February 28th.

Heron Therapeutics Price Performance

Shares of NASDAQ HRTX opened at $2.39 on Friday. The stock has a market capitalization of $364.07 million, a P/E ratio of -13.28 and a beta of 1.55. Heron Therapeutics has a 1-year low of $1.04 and a 1-year high of $3.93. The business has a fifty day moving average price of $1.77 and a 200 day moving average price of $1.73.

Heron Therapeutics (NASDAQ:HRTX) last issued its quarterly earnings data on Thursday, February 27th. The biotechnology company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.05. The company had revenue of $40.78 million for the quarter, compared to analysts’ expectations of $37.37 million. 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

Several hedge funds have recently added to or reduced their stakes in the business. Anfield Capital Management LLC increased its position in Heron Therapeutics by 5.6% during the 4th quarter. Anfield Capital Management LLC now owns 118,976 shares of the biotechnology company’s stock valued at $182,000 after buying an additional 6,264 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Heron Therapeutics by 21.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 45,273 shares of the biotechnology company’s stock worth $90,000 after buying an additional 7,927 shares during the last quarter. King Wealth Management Group boosted its stake in shares of Heron Therapeutics by 52.3% in the third quarter. King Wealth Management Group now owns 23,299 shares of the biotechnology company’s stock worth $46,000 after buying an additional 8,000 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Heron Therapeutics by 23.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 46,179 shares of the biotechnology company’s stock worth $71,000 after buying an additional 8,684 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Heron Therapeutics by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,105,803 shares of the biotechnology company’s stock worth $1,692,000 after buying an additional 9,418 shares during the last quarter. 80.01% of the stock is 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.