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

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

Separately, Needham & Company LLC restated a "buy" rating and set a $4.00 target price on shares of Heron Therapeutics in a report on Friday, February 28th.

Heron Therapeutics Price Performance

NASDAQ:HRTX traded up $0.07 on Friday, hitting $2.29. 2,029,920 shares of the company's stock were exchanged, compared to its average volume of 1,875,926. The firm has a 50-day moving average price of $1.78 and a 200-day moving average price of $1.73. Heron Therapeutics has a 52 week low of $1.04 and a 52 week high of $3.93. The company has a market cap of $348.84 million, a P/E ratio of -12.72 and a beta of 1.55.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last released its earnings results on Thursday, February 27th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.05. The company had revenue of $40.78 million for the quarter, compared to the consensus estimate of $37.37 million. On average, research analysts expect that Heron Therapeutics will post -0.13 earnings per share for the current fiscal year.

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Institutional Investors Weigh In On Heron Therapeutics

Institutional investors have recently made changes to their positions in the company. Nicolet Advisory Services LLC acquired a new stake in Heron Therapeutics during the 4th quarter worth approximately $25,000. Argent Advisors Inc. acquired a new stake in shares of Heron Therapeutics during the fourth quarter worth $31,000. Focus Partners Wealth acquired a new stake in shares of Heron Therapeutics during the fourth quarter worth $31,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Heron Therapeutics in the third quarter valued at about $39,000. Finally, Capstone Investment Advisors LLC acquired a new position in shares of Heron Therapeutics in the third quarter valued at about $45,000. 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.