Heron Therapeutics (NASDAQ:HRTX) Downgraded by StockNews.com to Hold

Heron Therapeutics (NASDAQ:HRTX) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.

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 Stock Performance

HRTX traded down $0.01 on Monday, hitting $1.54. 1,008,387 shares of the company were exchanged, compared to its average volume of 1,562,341. The firm has a fifty day simple moving average of $1.49 and a two-hundred day simple moving average of $1.99. The stock has a market capitalization of $234.23 million, a PE ratio of -8.56 and a beta of 1.60. Heron Therapeutics has a 12 month low of $1.04 and a 12 month high of $3.93.

Heron Therapeutics (NASDAQ:HRTX) last released its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). The company had revenue of $32.81 million for the quarter, compared to analysts’ expectations of $36.40 million. During the same period last year, the company posted ($0.17) EPS. On average, equities analysts expect that Heron Therapeutics will post -0.13 earnings per share for the current year.

Hedge Funds Weigh In On Heron Therapeutics

Several hedge funds have recently made changes to their positions in HRTX. Cutter & CO Brokerage Inc. bought a new stake in Heron Therapeutics during the 3rd quarter valued at approximately $39,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Heron Therapeutics in the 3rd quarter valued at approximately $39,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of Heron Therapeutics in the 2nd quarter valued at approximately $41,000. Sei Investments Co. purchased a new stake in Heron Therapeutics in the second quarter worth $44,000. Finally, Capstone Investment Advisors LLC purchased a new stake in Heron Therapeutics in the third quarter worth $45,000. 80.01% of the stock is owned by hedge funds and other institutional investors.

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.