Heron Therapeutics (NASDAQ:HRTX) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Heron Therapeutics, Inc. (NASDAQ:HRTX) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.34 and traded as high as $1.39. Heron Therapeutics shares last traded at $1.37, with a volume of 994,197 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Zacks Research upgraded shares of Heron Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 7th. Jefferies Financial Group reissued a “buy” rating on shares of Heron Therapeutics in a research report on Tuesday, November 4th. HC Wainwright restated a “buy” rating and set a $6.00 target price on shares of Heron Therapeutics in a research report on Friday, January 9th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Heron Therapeutics in a research note on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $4.50.

Heron Therapeutics Stock Down 0.7%

The firm has a market capitalization of $251.20 million, a PE ratio of -15.22 and a beta of 1.25. The company has a current ratio of 2.56, a quick ratio of 1.78 and a debt-to-equity ratio of 19.89. The firm has a 50-day moving average of $1.33 and a two-hundred day moving average of $1.34.

Heron Therapeutics (NASDAQ:HRTX) last announced its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The business had revenue of $38.21 million during the quarter, compared to the consensus estimate of $39.03 million. On average, equities research analysts forecast that Heron Therapeutics, Inc. will post -0.13 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Clearline Capital LP boosted its position in shares of Heron Therapeutics by 1,033.1% in the third quarter. Clearline Capital LP now owns 9,712,527 shares of the biotechnology company’s stock worth $12,238,000 after buying an additional 8,855,361 shares during the period. Baker BROS. Advisors LP purchased a new position in Heron Therapeutics in the 3rd quarter worth approximately $5,357,000. Citigroup Inc. grew its position in Heron Therapeutics by 4,666.9% in the third quarter. Citigroup Inc. now owns 2,476,529 shares of the biotechnology company’s stock valued at $3,120,000 after acquiring an additional 2,424,576 shares in the last quarter. Rubric Capital Management LP raised its stake in shares of Heron Therapeutics by 8.9% during the third quarter. Rubric Capital Management LP now owns 29,100,728 shares of the biotechnology company’s stock valued at $36,667,000 after purchasing an additional 2,387,225 shares during the period. Finally, Velan Capital Investment Management LP lifted its position in shares of Heron Therapeutics by 25.3% during the third quarter. Velan Capital Investment Management LP now owns 8,753,290 shares of the biotechnology company’s stock worth $11,029,000 after purchasing an additional 1,766,546 shares in the last quarter. 80.01% of the stock is owned by hedge funds and other institutional investors.

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.