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

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

Separately, Needham & Company LLC cut their price target on 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 Trading Up 4.9 %

Shares of Heron Therapeutics stock opened at $1.72 on Tuesday. Heron Therapeutics has a 1 year low of $1.04 and a 1 year high of $3.93. The company’s fifty day simple moving average is $1.64 and its 200-day simple moving average is $2.36. The company has a market cap of $261.61 million, a price-to-earnings ratio of -9.11 and a beta of 1.67.

Heron Therapeutics (NASDAQ:HRTX) last posted its quarterly 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 during the quarter, compared to analyst estimates of $36.40 million. During the same quarter in the prior year, the business earned ($0.17) earnings per share. As a group, research analysts forecast that Heron Therapeutics will post -0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Heron Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its position in 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 purchasing an additional 3,991 shares in the last quarter. Valeo Financial Advisors LLC bought a new position in shares of Heron Therapeutics during the 2nd quarter worth approximately $45,000. SG Americas Securities LLC bought a new position in shares of Heron Therapeutics during the 2nd quarter worth approximately $694,000. Apeiron RIA LLC boosted its stake in Heron Therapeutics by 52.1% in the 2nd quarter. Apeiron RIA LLC now owns 188,635 shares of the biotechnology company’s stock valued at $660,000 after buying an additional 64,635 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft bought a new stake in Heron Therapeutics in the second quarter valued at $126,000. 80.01% of the stock is owned by 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.