Heron Therapeutics (NASDAQ:HRTX) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Heron Therapeutics, Inc. (NASDAQ:HRTX) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.82 and traded as high as $1.91. Heron Therapeutics shares last traded at $1.79, with a volume of 651,612 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $4.00 price target on shares of Heron Therapeutics in a research note on Wednesday, December 4th. StockNews.com downgraded shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th.

Heron Therapeutics Price Performance

The company’s 50-day simple moving average is $1.62 and its 200-day simple moving average is $1.82. The stock has a market capitalization of $272.26 million, a P/E ratio of -9.94 and a beta of 1.60.

Heron Therapeutics (NASDAQ:HRTX) last released its quarterly earnings data 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 in the previous year, the business earned ($0.17) earnings per share. On average, analysts forecast that Heron Therapeutics, Inc. will post -0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Anfield Capital Management LLC raised its holdings in Heron Therapeutics by 5.6% in the 4th quarter. Anfield Capital Management LLC now owns 118,976 shares of the biotechnology company’s stock valued at $182,000 after acquiring an additional 6,264 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Heron Therapeutics by 16.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 45,771 shares of the biotechnology company’s stock valued at $160,000 after acquiring an additional 6,328 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Heron Therapeutics by 21.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 45,273 shares of the biotechnology company’s stock valued at $90,000 after acquiring an additional 7,927 shares in the last quarter. King Wealth Management Group raised its holdings in Heron Therapeutics by 52.3% in the 3rd quarter. King Wealth Management Group now owns 23,299 shares of the biotechnology company’s stock valued at $46,000 after acquiring an additional 8,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Heron Therapeutics by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,105,803 shares of the biotechnology company’s stock valued at $1,692,000 after acquiring an additional 9,418 shares in the last quarter. 80.01% of the stock is currently owned by institutional investors.

About Heron Therapeutics

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.