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 report released on Wednesday.

Separately, Needham & Company LLC restated a “buy” rating and set a $4.00 price objective on shares of Heron Therapeutics in a research note on Wednesday, December 4th.

Heron Therapeutics Trading Down 1.7 %

NASDAQ HRTX opened at $1.70 on Wednesday. The company has a 50-day moving average price of $1.57 and a two-hundred day moving average price of $1.86. Heron Therapeutics has a 52 week low of $1.04 and a 52 week high of $3.93. The stock has a market cap of $258.56 million, a price-to-earnings ratio of -9.44 and a beta of 1.60.

Heron Therapeutics (NASDAQ:HRTX) last issued its quarterly earnings data 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 business had revenue of $32.81 million during the quarter, compared to the consensus estimate of $36.40 million. During the same period last year, the company earned ($0.17) earnings per share. As a group, equities research analysts expect that Heron Therapeutics will post -0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Heron Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. bought a new stake in shares of Heron Therapeutics in the 2nd quarter worth $44,000. Squarepoint Ops LLC raised its position in Heron Therapeutics by 369.0% in the second quarter. Squarepoint Ops LLC now owns 363,700 shares of the biotechnology company’s stock worth $1,273,000 after acquiring an additional 286,160 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Heron Therapeutics by 1,460.9% in the 2nd quarter. AQR Capital Management LLC now owns 607,135 shares of the biotechnology company’s stock valued at $2,125,000 after acquiring an additional 568,238 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Heron Therapeutics by 16.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 45,771 shares of the biotechnology company’s stock valued at $160,000 after acquiring an additional 6,328 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of Heron Therapeutics in the 2nd quarter worth approximately $41,000. 80.01% of the stock is currently 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.