Heron Therapeutics (NASDAQ:HRTX) Earns Overweight Rating from Analysts at Capital One Financial

Capital One Financial assumed coverage on shares of Heron Therapeutics (NASDAQ:HRTX) in a research note issued to investors on Tuesday, Marketbeat reports. The firm issued an overweight rating and a $6.00 target price on the biotechnology company’s stock. Capital One Financial also issued estimates for Heron Therapeutics’ Q1 2024 earnings at ($0.09) EPS, Q2 2024 earnings at ($0.07) EPS, Q3 2024 earnings at ($0.06) EPS, Q4 2024 earnings at ($0.05) EPS, FY2024 earnings at ($0.28) EPS, FY2025 earnings at ($0.06) EPS, FY2026 earnings at $0.16 EPS, FY2027 earnings at $0.33 EPS and FY2028 earnings at $0.47 EPS.

A number of other analysts have also recently weighed in on the company. StockNews.com upgraded Heron Therapeutics from a sell rating to a hold rating in a research note on Tuesday, January 16th. Needham & Company LLC restated a buy rating and set a $5.00 price objective on shares of Heron Therapeutics in a research report on Thursday, April 11th.

Heron Therapeutics Price Performance

HRTX stock opened at $2.55 on Tuesday. Heron Therapeutics has a 1 year low of $0.50 and a 1 year high of $3.22. The firm has a market capitalization of $383.34 million, a P/E ratio of -2.97 and a beta of 1.68. The business’s 50-day moving average is $2.75 and its two-hundred day moving average is $1.96.

Heron Therapeutics (NASDAQ:HRTX) last issued its earnings results on Tuesday, March 12th. The biotechnology company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.08. The firm had revenue of $34.23 million during the quarter, compared to analyst estimates of $30.98 million. On average, analysts expect that Heron Therapeutics will post -0.22 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Diversified Trust Co purchased a new position in shares of Heron Therapeutics during the first quarter worth approximately $66,000. Orchard Capital Management LLC boosted its stake in Heron Therapeutics by 4.7% during the 4th quarter. Orchard Capital Management LLC now owns 2,243,426 shares of the biotechnology company’s stock worth $3,814,000 after purchasing an additional 100,603 shares during the period. Richmond Brothers Inc. grew its position in Heron Therapeutics by 188.0% during the 4th quarter. Richmond Brothers Inc. now owns 296,706 shares of the biotechnology company’s stock worth $504,000 after purchasing an additional 193,697 shares during the last quarter. Panagora Asset Management Inc. acquired a new position in Heron Therapeutics in the fourth quarter valued at $236,000. Finally, Monaco Asset Management SAM increased its stake in Heron Therapeutics by 219.5% in the fourth quarter. Monaco Asset Management SAM now owns 2,226,475 shares of the biotechnology company’s stock valued at $3,785,000 after purchasing an additional 1,529,567 shares during the period. Institutional investors and hedge funds 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.