Heron Therapeutics (NASDAQ:HRTX) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Heron Therapeutics, Inc. (NASDAQ:HRTX)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.82 and traded as high as $1.91. Heron Therapeutics shares last traded at $1.79, with a volume of 651,612 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on HRTX shares. StockNews.com downgraded shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $4.00 price objective on shares of Heron Therapeutics in a report on Wednesday, December 4th.

Heron Therapeutics Stock Performance

The firm has a market cap of $272.26 million, a price-to-earnings ratio of -9.94 and a beta of 1.60. The business’s 50-day moving average is $1.62 and its 200-day moving average is $1.82.

Heron Therapeutics (NASDAQ:HRTX) last announced its earnings results on Tuesday, November 12th. The biotechnology company reported ($0.03) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.03). The firm had revenue of $32.81 million for the quarter, compared to analyst estimates of $36.40 million. During the same quarter last year, the business earned ($0.17) EPS. Equities research analysts expect that Heron Therapeutics, Inc. will post -0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Heron Therapeutics

Several institutional investors have recently modified their holdings of HRTX. Congress Park Capital LLC boosted its stake in Heron Therapeutics by 25.3% during the 3rd quarter. Congress Park Capital LLC now owns 1,978,078 shares of the biotechnology company’s stock worth $3,936,000 after acquiring an additional 399,577 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Heron Therapeutics by 295.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 206,711 shares of the biotechnology company’s stock worth $411,000 after acquiring an additional 154,487 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Heron Therapeutics by 456.5% during the 3rd quarter. Principal Financial Group Inc. now owns 102,651 shares of the biotechnology company’s stock worth $204,000 after acquiring an additional 84,205 shares during the last quarter. Verition Fund Management LLC boosted its stake in Heron Therapeutics by 340.0% during the 3rd quarter. Verition Fund Management LLC now owns 108,115 shares of the biotechnology company’s stock worth $215,000 after acquiring an additional 83,542 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Heron Therapeutics by 16.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 45,771 shares of the biotechnology company’s stock worth $160,000 after acquiring an additional 6,328 shares during the last quarter. Institutional investors and hedge funds own 80.01% of the company’s stock.

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.