Heron Therapeutics (NASDAQ:HRTX) Stock Rating Lowered by StockNews.com

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

Separately, Needham & Company LLC reissued a “buy” rating and set a $4.00 target price on shares of Heron Therapeutics in a research note on Friday, February 28th.

Heron Therapeutics Price Performance

NASDAQ HRTX opened at $2.22 on Friday. Heron Therapeutics has a 12 month low of $1.04 and a 12 month high of $3.93. The company has a market capitalization of $338.17 million, a P/E ratio of -12.33 and a beta of 1.55. The company’s 50 day simple moving average is $1.78 and its 200 day simple moving average is $1.73.

Heron Therapeutics (NASDAQ:HRTX) last announced its earnings results on Thursday, February 27th. The biotechnology company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.05. The company had revenue of $40.78 million for the quarter, compared to analysts’ expectations of $37.37 million. On average, analysts anticipate that Heron Therapeutics will post -0.13 earnings per share for the current year.

Institutional Trading of Heron Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Nicolet Advisory Services LLC acquired a new position in shares of Heron Therapeutics during the 4th quarter worth about $25,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Heron Therapeutics in the third quarter valued at approximately $39,000. Argent Advisors Inc. acquired a new position in Heron Therapeutics during the 4th quarter valued at $31,000. Focus Partners Wealth bought a new stake in shares of Heron Therapeutics in the fourth quarter valued at about $31,000. Finally, Capstone Investment Advisors LLC acquired a new stake in Heron Therapeutics during the third quarter worth $45,000. 80.01% of the stock is currently owned by institutional investors and hedge funds.

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.