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

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

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

Heron Therapeutics Stock Up 3.3 %

HRTX opened at $1.58 on Thursday. Heron Therapeutics has a twelve month low of $1.04 and a twelve month high of $3.93. The stock has a market capitalization of $240.31 million, a price-to-earnings ratio of -8.78 and a beta of 1.67. The company has a 50-day simple moving average of $1.56 and a 200 day simple moving average of $2.21.

Heron Therapeutics (NASDAQ:HRTX) last posted its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($0.03) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.03). The firm 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 posted ($0.17) EPS. Sell-side analysts anticipate that Heron Therapeutics will post -0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HRTX. Bank of New York Mellon Corp increased its stake in shares of Heron Therapeutics by 33.9% in the second quarter. Bank of New York Mellon Corp now owns 449,212 shares of the biotechnology company’s stock valued at $1,572,000 after buying an additional 113,655 shares during the period. Legato Capital Management LLC bought a new position in Heron Therapeutics during the 2nd quarter worth approximately $837,000. HB Wealth Management LLC acquired a new position in shares of Heron Therapeutics in the 2nd quarter worth approximately $35,000. Panagora Asset Management Inc. boosted its stake in shares of Heron Therapeutics by 49.8% in the 2nd quarter. Panagora Asset Management Inc. now owns 562,228 shares of the biotechnology company’s stock valued at $1,968,000 after purchasing an additional 186,802 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of Heron Therapeutics in the 2nd quarter valued at $27,000. 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.