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

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) was downgraded by stock analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued 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 Trading Down 0.6 %

Shares of HRTX traded down $0.01 during mid-day trading on Monday, reaching $1.54. 1,008,387 shares of the stock traded hands, compared to its average volume of 1,562,341. The company has a market cap of $234.23 million, a price-to-earnings ratio of -8.56 and a beta of 1.60. Heron Therapeutics has a 1 year low of $1.04 and a 1 year high of $3.93. The firm has a fifty day moving average price of $1.49 and a 200 day moving average price of $1.99.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last posted its earnings results on Tuesday, November 12th. The biotechnology company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). The business had revenue of $32.81 million for the quarter, compared to analysts' expectations of $36.40 million. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. On average, sell-side analysts anticipate that Heron Therapeutics will post -0.13 EPS for the current year.

Institutional Investors Weigh In On Heron Therapeutics

A number of large investors have recently added to or reduced their stakes in HRTX. JPMorgan Chase & Co. boosted its holdings in shares of Heron Therapeutics by 295.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 206,711 shares of the biotechnology company's stock worth $411,000 after purchasing an additional 154,487 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Heron Therapeutics by 456.5% in the third quarter. Principal Financial Group Inc. now owns 102,651 shares of the biotechnology company's stock worth $204,000 after buying an additional 84,205 shares in the last quarter. Barclays PLC boosted its stake in Heron Therapeutics by 29.8% in the third quarter. Barclays PLC now owns 218,455 shares of the biotechnology company's stock worth $434,000 after buying an additional 50,109 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Heron Therapeutics during the third quarter valued at approximately $39,000. Finally, XTX Topco Ltd raised its stake in shares of Heron Therapeutics by 449.0% during the third quarter. XTX Topco Ltd now owns 297,568 shares of the biotechnology company's stock worth $592,000 after acquiring an additional 243,363 shares in the last quarter. Hedge funds and other institutional investors own 80.01% of the company's stock.

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.

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