Heron Therapeutics (NASDAQ:HRTX) Stock Passes Below Two Hundred Day Moving Average – Here’s What Happened

Shares of Heron Therapeutics, Inc. (NASDAQ:HRTX) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $0.98 and traded as low as $0.4112. Heron Therapeutics shares last traded at $0.4257, with a volume of 2,632,062 shares traded.

Analyst Ratings Changes

HRTX has been the topic of several recent analyst reports. Zacks Research lowered shares of Heron Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Monday, April 27th. Wall Street Zen cut shares of Heron Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Heron Therapeutics in a research report on Tuesday, April 21st. HC Wainwright reduced their price target on shares of Heron Therapeutics to $2.00 and set a “buy” rating for the company in a research report on Wednesday, June 3rd. Finally, Needham & Company LLC downgraded shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $2.50.

Heron Therapeutics Trading Down 1.9%

The business’s 50 day simple moving average is $0.70 and its 200 day simple moving average is $0.98. The company has a debt-to-equity ratio of 17.51, a current ratio of 2.53 and a quick ratio of 1.51. The company has a market capitalization of $80.58 million, a price-to-earnings ratio of -2.37 and a beta of 1.65.

Heron Therapeutics (NASDAQ:HRTX) last released its quarterly earnings results on Monday, May 11th. The biotechnology company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.01). Heron Therapeutics had a negative return on equity of 7,747.30% and a negative net margin of 20.53%.The company had revenue of $34.71 million for the quarter, compared to analysts’ expectations of $36.72 million. Research analysts anticipate that Heron Therapeutics, Inc. will post -0.09 EPS for the current year.

Institutional Trading of Heron Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rubric Capital Management LP increased its stake in shares of Heron Therapeutics by 3.3% during the fourth quarter. Rubric Capital Management LP now owns 30,046,828 shares of the biotechnology company’s stock worth $39,061,000 after acquiring an additional 946,100 shares during the period. Clearline Capital LP lifted its position in Heron Therapeutics by 26.0% in the fourth quarter. Clearline Capital LP now owns 12,235,239 shares of the biotechnology company’s stock valued at $15,906,000 after purchasing an additional 2,522,712 shares during the period. Adage Capital Partners GP L.L.C. lifted its position in Heron Therapeutics by 9.2% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 11,185,325 shares of the biotechnology company’s stock valued at $14,541,000 after purchasing an additional 946,100 shares during the period. Orbimed Advisors LLC purchased a new stake in Heron Therapeutics in the 1st quarter valued at approximately $7,855,000. Finally, Velan Capital Investment Management LP increased its position in Heron Therapeutics by 25.3% during the 3rd quarter. Velan Capital Investment Management LP now owns 8,753,290 shares of the biotechnology company’s stock worth $11,029,000 after purchasing an additional 1,766,546 shares during the period. Hedge funds and other institutional investors own 80.01% of the company’s stock.

Heron Therapeutics Company Profile

Heron Therapeutics, Inc is a commercial-stage biotechnology company focused on developing and commercializing therapies in pain management and supportive care for patients undergoing medical and surgical procedures. The company’s research is dedicated to addressing unmet needs in oncology supportive care and post-operative pain management through innovative drug formulations designed to improve patient outcomes and reduce reliance on opioids.

Heron’s first approved therapy, SUSTOL (granisetron) extended-release injection, received U.S.