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

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

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

Heron Therapeutics Stock Up 1.3 %

Heron Therapeutics stock opened at $1.53 on Tuesday. The company has a fifty day simple moving average of $1.52 and a 200-day simple moving average of $2.09. The firm has a market capitalization of $232.71 million, a price-to-earnings ratio of -8.50 and a beta of 1.67. Heron Therapeutics has a 52-week low of $1.04 and a 52-week high of $3.93.

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

Hedge Funds Weigh In On Heron Therapeutics

A number of institutional investors have recently bought and sold shares of HRTX. Bank of New York Mellon Corp increased its holdings in shares of Heron Therapeutics by 33.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 449,212 shares of the biotechnology company’s stock worth $1,572,000 after buying an additional 113,655 shares during the last quarter. nVerses Capital LLC acquired a new stake in Heron Therapeutics during the second quarter worth $27,000. Rhumbline Advisers raised its position in Heron Therapeutics by 31.5% in the second quarter. Rhumbline Advisers now owns 184,472 shares of the biotechnology company’s stock valued at $646,000 after purchasing an additional 44,230 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Heron Therapeutics in the 2nd quarter valued at $127,000. Finally, Headlands Technologies LLC lifted its stake in shares of Heron Therapeutics by 731.3% in the 2nd quarter. Headlands Technologies LLC now owns 90,495 shares of the biotechnology company’s stock valued at $317,000 after purchasing an additional 79,609 shares during the last quarter. 80.01% of the stock is owned by hedge funds and other 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.