HC Wainwright Issues Pessimistic Forecast for Heron Therapeutics (NASDAQ:HRTX) Stock Price

Heron Therapeutics (NASDAQ:HRTX) had its target price lowered by equities research analysts at HC Wainwright to $2.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price would suggest a potential upside of 344.44% from the stock’s current price.

Several other brokerages also recently commented on HRTX. Needham & Company LLC downgraded shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday. Zacks Research downgraded 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 Heron Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Heron Therapeutics in a report on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $2.50.

Heron Therapeutics Trading Down 45.6%

Shares of NASDAQ:HRTX opened at $0.45 on Wednesday. The company has a debt-to-equity ratio of 17.51, a quick ratio of 1.51 and a current ratio of 2.53. The stock has a market capitalization of $85.18 million, a price-to-earnings ratio of -2.50 and a beta of 1.58. Heron Therapeutics has a 1-year low of $0.45 and a 1-year high of $2.30. The company has a 50 day moving average price of $0.93 and a 200 day moving average price of $1.12.

Heron Therapeutics (NASDAQ:HRTX) last posted its quarterly earnings results on Monday, May 11th. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.01). Heron Therapeutics had a negative net margin of 20.53% and a negative return on equity of 7,747.30%. The company had revenue of $34.71 million during the quarter, compared to the consensus estimate of $36.72 million. On average, research analysts anticipate that Heron Therapeutics will post -0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Heron Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its stake in Heron Therapeutics by 57.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,028,678 shares of the biotechnology company’s stock valued at $2,263,000 after purchasing an additional 373,518 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Heron Therapeutics by 36.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 953,080 shares of the biotechnology company’s stock worth $1,973,000 after purchasing an additional 256,637 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Heron Therapeutics by 29.3% during the 2nd quarter. Rhumbline Advisers now owns 222,438 shares of the biotechnology company’s stock valued at $460,000 after buying an additional 50,344 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of Heron Therapeutics by 231.0% during the 2nd quarter. Prudential Financial Inc. now owns 36,465 shares of the biotechnology company’s stock valued at $75,000 after buying an additional 25,450 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in shares of Heron Therapeutics in the 2nd quarter valued at approximately $43,000. 80.01% of the stock is currently owned by hedge funds and other institutional investors.

About Heron Therapeutics

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.