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

StockNews.com downgraded shares of Heron Therapeutics (NASDAQ:HRTX) from a buy rating to a hold rating in a research report report published on Thursday.

Separately, Needham & Company LLC reduced their target price on Heron Therapeutics from $5.00 to $4.00 and set a “buy” rating for the company in a report on Wednesday, November 13th.

Heron Therapeutics Stock Up 0.9 %

Shares of Heron Therapeutics stock opened at $1.07 on Thursday. Heron Therapeutics has a 52 week low of $1.04 and a 52 week high of $3.93. The firm’s 50 day moving average is $1.75 and its two-hundred day moving average is $2.46. The firm has a market capitalization of $162.75 million, a P/E ratio of -5.94 and a beta of 1.81.

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

Institutional Trading of Heron Therapeutics

A number of large investors have recently bought and sold shares of HRTX. Capital Investment Counsel Inc boosted its stake in shares of Heron Therapeutics by 27.2% during the second quarter. Capital Investment Counsel Inc now owns 14,625 shares of the biotechnology company’s stock worth $51,000 after buying an additional 3,125 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Heron Therapeutics by 15.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,922 shares of the biotechnology company’s stock valued at $83,000 after acquiring an additional 3,991 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in 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 acquiring an additional 6,328 shares during the period. nVerses Capital LLC purchased a new position in shares of Heron Therapeutics in the 2nd quarter valued at approximately $27,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Heron Therapeutics by 21.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 45,273 shares of the biotechnology company’s stock valued at $90,000 after purchasing an additional 7,927 shares during the period. Institutional investors and hedge funds 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.