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

Heron Therapeutics (NASDAQ:HRTX) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

Separately, Needham & Company LLC reaffirmed 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 Stock Performance

Heron Therapeutics stock opened at $1.47 on Monday. Heron Therapeutics has a 1 year low of $1.04 and a 1 year high of $3.93. The firm’s 50 day moving average price is $1.49 and its two-hundred day moving average price is $1.99. The firm has a market cap of $223.58 million, a price-to-earnings ratio of -8.17 and a beta of 1.60.

Heron Therapeutics (NASDAQ:HRTX) last announced its earnings results 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 company had revenue of $32.81 million for the quarter, compared to analyst estimates of $36.40 million. During the same period last year, the firm earned ($0.17) earnings per share. As a group, equities analysts predict that Heron Therapeutics will post -0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of HRTX. Cutter & CO Brokerage Inc. acquired a new stake in Heron Therapeutics during the 3rd quarter worth about $39,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Heron Therapeutics in the third quarter worth approximately $39,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Heron Therapeutics during the second quarter worth approximately $41,000. Sei Investments Co. purchased a new position in Heron Therapeutics during the second quarter valued at approximately $44,000. Finally, Capstone Investment Advisors LLC purchased a new position in Heron Therapeutics during the third quarter valued at approximately $45,000. Hedge funds and other institutional investors own 80.01% of the company’s stock.

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.