Heron Therapeutics (NASDAQ:HRTX) Downgraded to Hold Rating by StockNews.com

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

Separately, Needham & Company LLC cut their price objective on Heron Therapeutics from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th.

Heron Therapeutics Price Performance

NASDAQ:HRTX opened at $1.12 on Thursday. The company’s 50-day moving average is $1.78 and its two-hundred day moving average is $2.48. Heron Therapeutics has a 1-year low of $1.04 and a 1-year high of $3.93. The firm has a market capitalization of $170.35 million, a price-to-earnings ratio of -6.22 and a beta of 1.81.

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, meeting the consensus estimate of ($0.03). The company had revenue of $32.81 million during the quarter, compared to analysts’ expectations of $36.40 million. During the same quarter last year, the firm posted ($0.17) earnings per share. As a group, equities analysts anticipate that Heron Therapeutics will post -0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HRTX. Barclays PLC lifted its stake in Heron Therapeutics by 29.8% during the third quarter. Barclays PLC now owns 218,455 shares of the biotechnology company’s stock worth $434,000 after purchasing an additional 50,109 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Heron Therapeutics during the 3rd quarter worth approximately $39,000. XTX Topco Ltd boosted its holdings in shares of Heron Therapeutics by 449.0% in the 3rd quarter. XTX Topco Ltd now owns 297,568 shares of the biotechnology company’s stock valued at $592,000 after buying an additional 243,363 shares in the last quarter. Zacks Investment Management grew its position in shares of Heron Therapeutics by 2.4% in the 3rd quarter. Zacks Investment Management now owns 475,575 shares of the biotechnology company’s stock valued at $946,000 after buying an additional 11,320 shares during the last quarter. Finally, Clearline Capital LP raised its stake in Heron Therapeutics by 48.9% during the 3rd quarter. Clearline Capital LP now owns 2,226,512 shares of the biotechnology company’s stock worth $4,431,000 after acquiring an additional 731,246 shares in the last quarter. 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.