Heron Therapeutics (NASDAQ:HRTX) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded 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 reaffirmed a “buy” rating and set a $4.00 price target on shares of Heron Therapeutics in a research note on Wednesday, December 4th.

Heron Therapeutics Stock Performance

Shares of HRTX opened at $1.58 on Thursday. The firm has a market cap of $240.31 million, a PE ratio of -8.78 and a beta of 1.67. Heron Therapeutics has a 52-week low of $1.04 and a 52-week high of $3.93. The business’s 50 day moving average price is $1.56 and its two-hundred day moving average price is $2.21.

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

Institutional Investors Weigh In On Heron Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its position in Heron Therapeutics by 33.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 449,212 shares of the biotechnology company’s stock valued at $1,572,000 after acquiring an additional 113,655 shares in the last quarter. Legato Capital Management LLC purchased a new stake in shares of Heron Therapeutics in the second quarter worth approximately $837,000. HB Wealth Management LLC bought a new position in shares of Heron Therapeutics in the second quarter valued at approximately $35,000. Panagora Asset Management Inc. boosted its position in shares of Heron Therapeutics by 49.8% during the second quarter. Panagora Asset Management Inc. now owns 562,228 shares of the biotechnology company’s stock valued at $1,968,000 after buying an additional 186,802 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in Heron Therapeutics during the second quarter worth $27,000. 80.01% of the stock is 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.