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

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.

Separately, Needham & Company LLC cut their price objective on shares of Heron Therapeutics from $5.00 to $4.00 and set a “buy” rating for the company in a report on Wednesday, November 13th.

Heron Therapeutics Stock Performance

HRTX stock opened at $1.07 on Thursday. Heron Therapeutics has a one year low of $1.04 and a one year high of $3.93. The firm’s fifty day moving average is $1.75 and its 200 day moving average is $2.45. The firm has a market cap of $162.75 million, a PE ratio of -5.94 and a beta of 1.81.

Heron Therapeutics (NASDAQ:HRTX) last issued its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). The firm had revenue of $32.81 million for the quarter, compared to analysts’ expectations of $36.40 million. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. Research analysts predict that Heron Therapeutics will post -0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Heron Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Capital Investment Counsel Inc grew its holdings in shares of Heron Therapeutics by 27.2% in the second quarter. Capital Investment Counsel Inc now owns 14,625 shares of the biotechnology company’s stock valued at $51,000 after purchasing an additional 3,125 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Heron Therapeutics by 15.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,922 shares of the biotechnology company’s stock worth $83,000 after acquiring an additional 3,991 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Heron Therapeutics by 16.0% during the second 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 period. nVerses Capital LLC acquired a new position in shares of Heron Therapeutics during the second quarter worth about $27,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Heron Therapeutics by 21.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 45,273 shares of the biotechnology company’s stock worth $90,000 after purchasing an additional 7,927 shares during the last quarter. 80.01% of the stock is owned by hedge funds and other institutional investors.

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.