Heron Therapeutics (NASDAQ:HRTX) Lowered to “Hold” Rating by StockNews.com

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

Separately, Needham & Company LLC reduced their price target on Heron Therapeutics from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th.

Heron Therapeutics Stock Down 3.3 %

HRTX stock traded down $0.04 during midday trading on Tuesday, reaching $1.18. 10,652,628 shares of the company’s stock traded hands, compared to its average volume of 1,946,921. The company has a 50-day simple moving average of $1.66 and a two-hundred day simple 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 cap of $179.48 million, a price-to-earnings ratio of -6.56 and a beta of 1.67.

Heron Therapeutics (NASDAQ:HRTX) last announced its earnings results on Tuesday, November 12th. The biotechnology company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). The business had revenue of $32.81 million during the quarter, compared to analyst estimates of $36.40 million. During the same quarter last year, the business posted ($0.17) earnings per share. Equities research analysts forecast that Heron Therapeutics will post -0.13 EPS for the current year.

Institutional Trading of Heron Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. nVerses Capital LLC acquired a new stake in Heron Therapeutics in the second quarter valued at $27,000. HB Wealth Management LLC acquired a new stake in Heron Therapeutics during the 2nd quarter valued at $35,000. Cutter & CO Brokerage Inc. acquired a new stake in Heron Therapeutics during the 3rd quarter valued at $39,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Heron Therapeutics during the 3rd quarter worth about $39,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of Heron Therapeutics in the second quarter valued at approximately $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.