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

StockNews.com cut shares of Heron Therapeutics (NASDAQ:HRTX - Free Report) from a buy rating to a hold rating in a research report report published on Thursday morning.

Separately, Needham & Company LLC reduced their price target on Heron Therapeutics from $5.00 to $4.00 and set a "buy" rating for the company in a research report on Wednesday, November 13th.

Heron Therapeutics Stock Down 5.9 %

Shares of NASDAQ:HRTX opened at $1.12 on Thursday. The firm has a market cap of $170.35 million, a price-to-earnings ratio of -6.22 and a beta of 1.81. Heron Therapeutics has a 12 month low of $1.04 and a 12 month high of $3.93. The company's fifty day simple moving average is $1.78 and its 200 day simple moving average is $2.48.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). The firm had revenue of $32.81 million during the quarter, compared to analyst estimates of $36.40 million. During the same period in the prior year, the business earned ($0.17) EPS. Research analysts expect that Heron Therapeutics will post -0.13 earnings per share for the current fiscal year.

Institutional Trading of Heron Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. nVerses Capital LLC bought a new stake in shares of Heron Therapeutics during the 2nd quarter valued at $27,000. HB Wealth Management LLC bought a new position in shares of Heron Therapeutics in the second quarter worth about $35,000. Cutter & CO Brokerage Inc. bought a new stake in shares of Heron Therapeutics during the 3rd quarter valued at approximately $39,000. Y Intercept Hong Kong Ltd bought a new position in Heron Therapeutics in the 3rd quarter valued at approximately $39,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in Heron Therapeutics in the second quarter valued at approximately $41,000. Institutional investors own 80.01% of the company's stock.

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.