Heron Therapeutics, Inc. (NASDAQ:HRTX) Given Average Recommendation of “Hold” by Brokerages

Heron Therapeutics, Inc. (NASDAQ:HRTX) has earned a consensus recommendation of “Hold” from the five ratings firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating and three have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $4.50.

HRTX has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Heron Therapeutics in a research note on Thursday, January 22nd. HC Wainwright reissued a “buy” rating and issued a $6.00 price target on shares of Heron Therapeutics in a research note on Friday, January 9th. Finally, Zacks Research lowered shares of Heron Therapeutics from a “hold” rating to a “strong sell” rating in a report on Thursday, February 26th.

Heron Therapeutics Price Performance

NASDAQ HRTX opened at $0.97 on Monday. The company has a market cap of $182.24 million, a price-to-earnings ratio of -7.44 and a beta of 1.26. The company has a debt-to-equity ratio of 10.59, a current ratio of 2.48 and a quick ratio of 1.51. The stock’s fifty day moving average price is $1.28 and its 200 day moving average price is $1.26. Heron Therapeutics has a 1 year low of $0.95 and a 1 year high of $2.61.

Heron Therapeutics (NASDAQ:HRTX) last issued its earnings results on Thursday, February 26th. The biotechnology company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. The firm had revenue of $40.59 million during the quarter, compared to analysts’ expectations of $39.53 million. As a group, equities research analysts forecast that Heron Therapeutics will post -0.13 earnings per share for the current year.

Hedge Funds Weigh In On Heron Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. ProShare Advisors LLC lifted its holdings in Heron Therapeutics by 23.4% in the second quarter. ProShare Advisors LLC now owns 31,368 shares of the biotechnology company’s stock valued at $65,000 after acquiring an additional 5,953 shares during the last quarter. SG Americas Securities LLC increased its stake in Heron Therapeutics by 39.1% during the fourth quarter. SG Americas Securities LLC now owns 24,377 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 6,858 shares during the last quarter. Richmond Brothers Inc. raised its position in Heron Therapeutics by 1.8% in the second quarter. Richmond Brothers Inc. now owns 554,469 shares of the biotechnology company’s stock valued at $1,148,000 after purchasing an additional 9,568 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Heron Therapeutics by 5.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 241,048 shares of the biotechnology company’s stock valued at $499,000 after purchasing an additional 11,716 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of Heron Therapeutics in the 2nd quarter valued at $26,000. 80.01% of the stock is currently owned by institutional investors and hedge funds.

Heron Therapeutics Company Profile

Heron Therapeutics, Inc is a commercial-stage biotechnology company focused on developing and commercializing therapies in pain management and supportive care for patients undergoing medical and surgical procedures. The company’s research is dedicated to addressing unmet needs in oncology supportive care and post-operative pain management through innovative drug formulations designed to improve patient outcomes and reduce reliance on opioids.

Heron’s first approved therapy, SUSTOL (granisetron) extended-release injection, received U.S.