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

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

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

Heron Therapeutics Trading Down 4.8 %

NASDAQ:HRTX opened at $1.57 on Thursday. The company has a market capitalization of $238.79 million, a P/E ratio of -8.72 and a beta of 1.67. The firm has a 50-day moving average price of $1.57 and a two-hundred day moving average price of $2.24. Heron Therapeutics has a twelve month low of $1.04 and a twelve month high of $3.93.

Heron Therapeutics (NASDAQ:HRTX) last issued its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates 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 last year, the business earned ($0.17) earnings per share. On average, equities research analysts predict that Heron Therapeutics will post -0.13 earnings per share for the current year.

Institutional Trading of Heron Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of HRTX. The Manufacturers Life Insurance Company boosted its holdings in shares of Heron Therapeutics by 16.0% during the second 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. nVerses Capital LLC purchased a new position in Heron Therapeutics during the second quarter worth about $27,000. Wealth Enhancement Advisory Services LLC boosted its stake 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 worth $90,000 after buying an additional 7,927 shares during the last quarter. King Wealth Management Group grew 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 buying an additional 8,000 shares during the period. Finally, HB Wealth Management LLC acquired a new position in shares of Heron Therapeutics during the 2nd quarter valued at about $35,000. 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.