Heron Therapeutics, Inc. (NASDAQ:HRTX) Receives Average Recommendation of “Hold” from Analysts

Shares of Heron Therapeutics, Inc. (NASDAQ:HRTX) have received an average recommendation of “Hold” from the five ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $2.50.

Several research analysts have recently issued reports on the company. Zacks Research raised Heron Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday. Needham & Company LLC lowered shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. HC Wainwright reduced their price objective on shares of Heron Therapeutics to $2.00 and set a “buy” rating for the company in a research report on Wednesday, June 3rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Heron Therapeutics in a research report on Friday, July 17th. Finally, Wall Street Zen downgraded shares of Heron Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th.

Heron Therapeutics Stock Down 1.3%

Shares of NASDAQ:HRTX opened at $0.50 on Thursday. Heron Therapeutics has a fifty-two week low of $0.38 and a fifty-two week high of $1.88. The firm’s 50 day moving average price is $0.47 and its 200 day moving average price is $0.85. The company has a quick ratio of 1.51, a current ratio of 2.53 and a debt-to-equity ratio of 17.51. The stock has a market cap of $95.55 million, a price-to-earnings ratio of -2.80 and a beta of 1.65.

Heron Therapeutics (NASDAQ:HRTX) last announced its quarterly earnings data on Monday, May 11th. The biotechnology company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). The firm had revenue of $34.71 million during the quarter, compared to analysts’ expectations of $36.72 million. Heron Therapeutics had a negative net margin of 20.53% and a negative return on equity of 7,747.30%. As a group, equities research analysts predict that Heron Therapeutics will post -0.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Heron Therapeutics

Institutional investors have recently modified their holdings of the business. Orbimed Advisors LLC purchased a new stake in Heron Therapeutics during the 1st quarter valued at approximately $7,855,000. Millennium Management LLC raised its stake in shares of Heron Therapeutics by 2,785.2% during the fourth quarter. Millennium Management LLC now owns 7,169,908 shares of the biotechnology company’s stock worth $9,321,000 after purchasing an additional 6,921,405 shares during the last quarter. Tang Capital Management LLC lifted its holdings in shares of Heron Therapeutics by 81.2% during the fourth quarter. Tang Capital Management LLC now owns 6,250,000 shares of the biotechnology company’s stock worth $8,125,000 after purchasing an additional 2,800,000 shares during the period. Clearline Capital LP grew its position in Heron Therapeutics by 26.0% in the 4th quarter. Clearline Capital LP now owns 12,235,239 shares of the biotechnology company’s stock valued at $15,906,000 after buying an additional 2,522,712 shares during the last quarter. Finally, Rubric Capital Management LP raised its position in Heron Therapeutics by 8.9% during the 3rd quarter. Rubric Capital Management LP now owns 29,100,728 shares of the biotechnology company’s stock worth $36,667,000 after buying an additional 2,387,225 shares during the last quarter. 80.01% of the stock is owned by institutional investors and hedge funds.

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.