Heron Therapeutics (NASDAQ:HRTX) Price Target Lowered to $2.00 at HC Wainwright

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

A number of other brokerages also recently weighed in on HRTX. Weiss Ratings reissued a “sell (e+)” rating on shares of Heron Therapeutics in a research note on Tuesday, April 21st. Zacks Research downgraded Heron Therapeutics from a “hold” rating to a “strong sell” rating in a report on Monday, April 27th. Wall Street Zen lowered shares of Heron Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Needham & Company LLC cut shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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 current ratio of 2.53, a quick ratio of 1.51 and a debt-to-equity ratio of 17.51. The stock has a market capitalization of $85.18 million, a PE 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 firm has a fifty day moving average price of $0.93 and a 200 day moving average price of $1.12.

Heron Therapeutics (NASDAQ:HRTX) last posted its earnings results on Monday, May 11th. The biotechnology company reported ($0.04) earnings per share 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 for the quarter, compared to the consensus estimate of $36.72 million. Analysts expect that Heron Therapeutics will post -0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Heron Therapeutics

Large investors have recently made changes to their positions in the business. PKS Advisory Services LLC bought a new stake in Heron Therapeutics during the 3rd quarter valued at approximately $25,000. Advisory Services Network LLC lifted its holdings in shares of Heron Therapeutics by 2,383.4% during the fourth quarter. Advisory Services Network LLC now owns 18,874 shares of the biotechnology company’s stock worth $25,000 after buying an additional 18,114 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in shares of Heron Therapeutics during the second quarter worth approximately $26,000. R Squared Ltd bought a new stake in shares of Heron Therapeutics in the first quarter valued at approximately $27,000. Finally, Jones Financial Companies Lllp grew its stake in shares of Heron Therapeutics by 5,541.2% in the third quarter. Jones Financial Companies Lllp now owns 24,088 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 23,661 shares during the last quarter. Institutional investors and hedge funds own 80.01% of the company’s stock.

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.