Heron Therapeutics (NASDAQ:HRTX) Cut 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 note issued to investors on Thursday morning.

Separately, Needham & Company LLC reiterated 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 Price Performance

Shares of NASDAQ HRTX opened at $1.53 on Thursday. The stock has a market capitalization of $232.71 million, a PE ratio of -8.50 and a beta of 1.67. Heron Therapeutics has a one year low of $1.04 and a one year high of $3.93. The business’s fifty day moving average price is $1.56 and its 200-day moving average price is $2.23.

Heron Therapeutics (NASDAQ:HRTX) last released 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 business had revenue of $32.81 million for the quarter, compared to analysts’ expectations of $36.40 million. During the same period last year, the company earned ($0.17) earnings per share. As a group, equities analysts expect that Heron Therapeutics will post -0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Heron Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of HRTX. nVerses Capital LLC bought a new position in shares of Heron Therapeutics in the second quarter valued at approximately $27,000. HB Wealth Management LLC bought a new position in Heron Therapeutics in the 2nd quarter valued at $35,000. B. Riley Wealth Advisors Inc. bought a new position in Heron Therapeutics in the 2nd quarter valued at $41,000. Sei Investments Co. purchased a new position in shares of Heron Therapeutics during the 2nd quarter valued at $44,000. Finally, E Fund Management Co. Ltd. bought a new position in shares of Heron Therapeutics in the second quarter worth $55,000. 80.01% of the stock is currently owned by 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.