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

Shares of Heron Therapeutics, Inc. (NASDAQ:HRTX) have received a consensus recommendation of “Hold” from the five analysts that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $2.50.

HRTX has been the subject of a number of recent research reports. HC Wainwright cut their target price on shares of Heron Therapeutics to $2.00 and set a “buy” rating for the company in a report on Wednesday, June 3rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Heron Therapeutics in a research report on Tuesday, April 21st. Zacks Research cut shares of Heron Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Monday, April 27th. Wall Street Zen downgraded shares of Heron Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Needham & Company LLC cut shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 2nd.

Institutional Investors Weigh In On Heron Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC boosted its holdings in shares of Heron Therapeutics by 39.1% in the 4th quarter. SG Americas Securities LLC now owns 24,377 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 6,858 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Heron Therapeutics by 5.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 241,048 shares of the biotechnology company’s stock valued at $499,000 after buying an additional 11,716 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in Heron Therapeutics in the second quarter worth $26,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Heron Therapeutics by 19.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,756 shares of the biotechnology company’s stock worth $173,000 after buying an additional 13,544 shares during the last quarter. Finally, Advisory Services Network LLC boosted its stake in Heron Therapeutics by 2,383.4% during the fourth quarter. Advisory Services Network LLC now owns 18,874 shares of the biotechnology company’s stock worth $25,000 after buying an additional 18,114 shares during the period. 80.01% of the stock is currently owned by hedge funds and other institutional investors.

Heron Therapeutics Trading Up 8.4%

Shares of HRTX stock opened at $0.48 on Friday. The company has a current ratio of 2.53, a quick ratio of 1.51 and a debt-to-equity ratio of 17.51. The stock has a market capitalization of $90.10 million, a price-to-earnings ratio of -2.64 and a beta of 1.65. Heron Therapeutics has a 12-month low of $0.38 and a 12-month high of $2.05. The stock’s 50-day moving average price is $0.59 and its 200-day moving average price is $0.94.

Heron Therapeutics (NASDAQ:HRTX) last announced its quarterly earnings results on Monday, May 11th. The biotechnology company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). Heron Therapeutics had a negative net margin of 20.53% and a negative return on equity of 7,747.30%. The firm had revenue of $34.71 million for the quarter, compared to the consensus estimate of $36.72 million. Equities research analysts predict that Heron Therapeutics will post -0.09 EPS for the current fiscal year.

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.