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

Heron Therapeutics (NASDAQ:HRTX) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Separately, Needham & Company LLC reiterated a “buy” rating and set a $4.00 target price on shares of Heron Therapeutics in a research report on Wednesday, December 4th.

Heron Therapeutics Stock Performance

NASDAQ HRTX opened at $1.80 on Wednesday. The business has a 50 day simple moving average of $1.53 and a 200 day simple moving average of $1.88. Heron Therapeutics has a 52-week low of $1.04 and a 52-week high of $3.93. The stock has a market cap of $273.78 million, a price-to-earnings ratio of -10.00 and a beta of 1.60.

Heron Therapeutics (NASDAQ:HRTX) last released its earnings results on Tuesday, November 12th. The biotechnology company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). The firm had revenue of $32.81 million during the quarter, compared to the consensus estimate of $36.40 million. During the same period in the prior year, the business posted ($0.17) earnings per share. On average, analysts predict that Heron Therapeutics will post -0.13 EPS for the current year.

Institutional Investors Weigh In On Heron Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of HRTX. Clearline Capital LP increased its holdings 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 purchasing an additional 731,246 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Heron Therapeutics by 1,460.9% during the 2nd quarter. AQR Capital Management LLC now owns 607,135 shares of the biotechnology company’s stock worth $2,125,000 after acquiring an additional 568,238 shares during the period. Congress Park Capital LLC boosted its holdings in Heron Therapeutics by 24.1% in the 4th quarter. Congress Park Capital LLC now owns 2,455,495 shares of the biotechnology company’s stock worth $3,757,000 after buying an additional 477,417 shares during the period. Squarepoint Ops LLC increased its position in shares of Heron Therapeutics by 369.0% during the second quarter. Squarepoint Ops LLC now owns 363,700 shares of the biotechnology company’s stock valued at $1,273,000 after buying an additional 286,160 shares during the period. Finally, XTX Topco Ltd increased its holdings in shares of Heron Therapeutics by 449.0% in the third quarter. XTX Topco Ltd now owns 297,568 shares of the biotechnology company’s stock worth $592,000 after purchasing an additional 243,363 shares during the period. 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.