Heron Therapeutics (NASDAQ:HRTX) Stock Rating Lowered by StockNews.com

Heron Therapeutics (NASDAQ:HRTX) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Separately, Needham & Company LLC lowered their price objective on shares of 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 Price Performance

NASDAQ:HRTX traded down $0.04 during trading hours on Tuesday, reaching $1.18. 10,652,628 shares of the company were exchanged, compared to its average volume of 1,946,921. The business has a 50 day moving average of $1.66 and a 200 day moving average of $2.38. Heron Therapeutics has a 1-year low of $1.04 and a 1-year high of $3.93. The company has a market capitalization of $179.48 million, a P/E ratio of -6.56 and a beta of 1.67.

Heron Therapeutics (NASDAQ:HRTX) last released its earnings results on Tuesday, November 12th. The biotechnology company reported ($0.03) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.03). The company had revenue of $32.81 million for the quarter, compared to analyst estimates of $36.40 million. During the same period last year, the company posted ($0.17) earnings per share. As a group, equities research analysts anticipate 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 institutional investors and hedge funds have recently bought and sold shares of HRTX. nVerses Capital LLC acquired a new stake in Heron Therapeutics during the 2nd quarter worth approximately $27,000. HB Wealth Management LLC acquired a new position in shares of Heron Therapeutics in the 2nd quarter valued at about $35,000. Cutter & CO Brokerage Inc. acquired a new position in Heron Therapeutics in the third quarter valued at approximately $39,000. Y Intercept Hong Kong Ltd bought a new position in shares of Heron Therapeutics during the 3rd quarter worth approximately $39,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in Heron Therapeutics during the second quarter worth $41,000. 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.