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

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Wednesday.

Separately, Needham & Company LLC reissued a "buy" rating and issued a $4.00 target price on shares of Heron Therapeutics in a research report on Wednesday, December 4th.

Heron Therapeutics Stock Performance

Shares of NASDAQ HRTX traded down $0.03 during midday trading on Wednesday, reaching $1.70. 1,126,279 shares of the company's stock were exchanged, compared to its average volume of 1,361,514. Heron Therapeutics has a 52-week low of $1.04 and a 52-week high of $3.93. The business's fifty day moving average price is $1.57 and its two-hundred day moving average price is $1.85. The stock has a market capitalization of $258.57 million, a PE ratio of -9.44 and a beta of 1.60.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last released its earnings results on Tuesday, November 12th. The biotechnology company reported ($0.03) EPS for the quarter, meeting 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 last year, the company posted ($0.17) earnings per share. Analysts predict that Heron Therapeutics will post -0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Heron Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. New York State Common Retirement Fund raised its holdings in shares of Heron Therapeutics by 3.2% during the fourth quarter. New York State Common Retirement Fund now owns 1,321,006 shares of the biotechnology company's stock worth $2,021,000 after purchasing an additional 41,062 shares during the period. Principal Financial Group Inc. raised its stake in Heron Therapeutics by 10.6% during the fourth quarter. Principal Financial Group Inc. now owns 113,560 shares of the biotechnology company's stock worth $174,000 after acquiring an additional 10,909 shares during the period. Apeiron RIA LLC lifted its holdings in Heron Therapeutics by 7.8% in the fourth quarter. Apeiron RIA LLC now owns 262,542 shares of the biotechnology company's stock worth $402,000 after acquiring an additional 19,000 shares during the last quarter. Capital Planning Advisors LLC lifted its holdings in Heron Therapeutics by 41.0% in the fourth quarter. Capital Planning Advisors LLC now owns 106,565 shares of the biotechnology company's stock worth $163,000 after acquiring an additional 31,003 shares during the last quarter. Finally, Arkadios Wealth Advisors acquired a new position in Heron Therapeutics in the fourth quarter valued at approximately $76,000. Institutional investors and hedge funds 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.