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

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

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

Heron Therapeutics Stock Performance

NASDAQ HRTX opened at $1.53 on Tuesday. The firm has a market capitalization of $232.71 million, a P/E ratio of -8.50 and a beta of 1.67. The stock has a 50-day simple moving average of $1.52 and a two-hundred day simple moving average of $2.09. Heron Therapeutics has a fifty-two week low of $1.04 and a fifty-two week high of $3.93.

Heron Therapeutics (NASDAQ:HRTX) last announced its quarterly 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 company had revenue of $32.81 million for the quarter, compared to analysts’ expectations of $36.40 million. During the same quarter in the prior year, the business posted ($0.17) earnings per share. As a group, analysts forecast that Heron Therapeutics will post -0.13 earnings per share for the current year.

Institutional Trading of Heron Therapeutics

Institutional investors have recently bought and sold shares of the business. Congress Park Capital LLC grew its stake in Heron Therapeutics by 25.3% in the 3rd quarter. Congress Park Capital LLC now owns 1,978,078 shares of the biotechnology company’s stock valued at $3,936,000 after acquiring an additional 399,577 shares during the period. Verition Fund Management LLC grew its position in shares of Heron Therapeutics by 340.0% in the third quarter. Verition Fund Management LLC now owns 108,115 shares of the biotechnology company’s stock valued at $215,000 after purchasing an additional 83,542 shares during the period. Squarepoint Ops LLC grew its position in shares of Heron Therapeutics by 369.0% in the second quarter. Squarepoint Ops LLC now owns 363,700 shares of the biotechnology company’s stock valued at $1,273,000 after purchasing an additional 286,160 shares during the period. Marshall Wace LLP increased its stake in shares of Heron Therapeutics by 256.2% during the second quarter. Marshall Wace LLP now owns 1,761,051 shares of the biotechnology company’s stock worth $6,164,000 after purchasing an additional 1,266,697 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Heron Therapeutics by 16.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 45,771 shares of the biotechnology company’s stock worth $160,000 after purchasing an additional 6,328 shares during the last quarter. 80.01% of the stock is owned by institutional investors and hedge funds.

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.