Heron Therapeutics (NASDAQ:HRTX) Lowered to “Hold” Rating by StockNews.com

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

Separately, Needham & Company LLC reissued a “buy” rating and issued a $4.00 price objective on shares of Heron Therapeutics in a report on Wednesday, December 4th.

Heron Therapeutics Trading Down 2.6 %

Shares of NASDAQ:HRTX opened at $1.51 on Tuesday. Heron Therapeutics has a 52 week low of $1.04 and a 52 week high of $3.93. The company’s 50 day moving average is $1.53 and its two-hundred day moving average is $2.12. The company has a market cap of $229.66 million, a PE ratio of -8.39 and a beta of 1.67.

Heron Therapeutics (NASDAQ:HRTX) last announced its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). The business had revenue of $32.81 million during the quarter, compared to analyst estimates of $36.40 million. During the same period last year, the company earned ($0.17) earnings per share. As a group, equities research analysts expect that Heron Therapeutics will post -0.13 EPS for the current year.

Hedge Funds Weigh In On Heron Therapeutics

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in shares of Heron Therapeutics by 295.8% during the third quarter. JPMorgan Chase & Co. now owns 206,711 shares of the biotechnology company’s stock worth $411,000 after purchasing an additional 154,487 shares during the last quarter. Principal Financial Group Inc. lifted its position in Heron Therapeutics by 456.5% during the third quarter. Principal Financial Group Inc. now owns 102,651 shares of the biotechnology company’s stock worth $204,000 after buying an additional 84,205 shares during the period. Barclays PLC boosted its stake in Heron Therapeutics by 29.8% in the 3rd quarter. Barclays PLC now owns 218,455 shares of the biotechnology company’s stock worth $434,000 after buying an additional 50,109 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Heron Therapeutics in the 3rd quarter valued at about $39,000. Finally, XTX Topco Ltd increased its stake in shares of Heron Therapeutics by 449.0% during the 3rd quarter. XTX Topco Ltd now owns 297,568 shares of the biotechnology company’s stock valued at $592,000 after acquiring an additional 243,363 shares during the last quarter. 80.01% of the stock is 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.