StockNews.com Downgrades Heron Therapeutics (NASDAQ:HRTX) to Hold

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

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

Heron Therapeutics Stock Performance

NASDAQ HRTX opened at $2.39 on Friday. The stock’s fifty day moving average is $1.77 and its two-hundred day moving average is $1.73. The firm 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 fifty-two week low of $1.04 and a fifty-two week high of $3.93.

Heron Therapeutics (NASDAQ:HRTX) last posted its earnings results on Thursday, February 27th. The biotechnology company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.05. The business had revenue of $40.78 million during the quarter, compared to analysts’ expectations of $37.37 million. As a group, sell-side analysts forecast that Heron Therapeutics will post -0.13 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. acquired a new position in Heron Therapeutics during the 4th quarter worth $4,706,000. Congress Park Capital LLC grew its stake in Heron Therapeutics by 24.1% during the 4th quarter. Congress Park Capital LLC now owns 2,455,495 shares of the biotechnology company’s stock worth $3,757,000 after purchasing an additional 477,417 shares in the last quarter. Clearline Capital LP grew its stake in Heron Therapeutics by 48.9% during the 3rd quarter. Clearline Capital LP now owns 2,226,512 shares of the biotechnology company’s stock worth $4,431,000 after purchasing an additional 731,246 shares in the last quarter. Tang Capital Management LLC boosted its position in shares of Heron Therapeutics by 15.7% during the 4th quarter. Tang Capital Management LLC now owns 2,140,271 shares of the biotechnology company’s stock worth $3,275,000 after acquiring an additional 290,271 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of Heron Therapeutics by 3.2% during the 4th quarter. New York State Common Retirement Fund now owns 1,321,006 shares of the biotechnology company’s stock worth $2,021,000 after acquiring an additional 41,062 shares in the last quarter. 80.01% of the stock is owned by institutional investors and hedge funds.

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.