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

Shares of Heron Therapeutics, Inc. (NASDAQ:HRTX) have earned an average recommendation of “Hold” from the five research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $2.00.

Several research analysts have recently weighed in on HRTX shares. Zacks Research upgraded Heron Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, August 3rd. Wall Street Zen upgraded shares of Heron Therapeutics to a “sell” rating in a research note on Saturday, August 8th. 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 cut shares of Heron Therapeutics from a “buy” rating to a “neutral” rating in a report on Tuesday, August 11th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Heron Therapeutics in a research report on Friday, July 17th.

Institutional Trading of Heron Therapeutics

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Heron Therapeutics during the 2nd quarter worth approximately $4,503,000. Orbimed Advisors LLC purchased a new position in Heron Therapeutics during the first quarter valued at approximately $7,855,000. Millennium Management LLC lifted its holdings in Heron Therapeutics by 2,785.2% in the fourth quarter. Millennium Management LLC now owns 7,169,908 shares of the biotechnology company’s stock valued at $9,321,000 after acquiring an additional 6,921,405 shares during the period. Tejara Capital Ltd purchased a new stake in Heron Therapeutics in the 2nd quarter worth approximately $2,779,000. Finally, Tang Capital Management LLC grew its stake in shares of Heron Therapeutics by 81.2% during the 4th 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. Hedge funds and other institutional investors own 80.01% of the company’s stock.

Heron Therapeutics Price Performance

Shares of NASDAQ:HRTX opened at $0.33 on Monday. The company has a current ratio of 2.49, a quick ratio of 1.51 and a debt-to-equity ratio of 24.35. The stock has a market cap of $62.01 million, a PE ratio of -1.72 and a beta of 1.65. The stock’s fifty day simple moving average is $0.42 and its two-hundred day simple moving average is $0.73. Heron Therapeutics has a 1-year low of $0.30 and a 1-year high of $1.57.

Heron Therapeutics (NASDAQ:HRTX) last announced its quarterly earnings results on Monday, August 10th. The biotechnology company reported ($0.03) earnings per share for the quarter. Heron Therapeutics had a negative net margin of 22.52% and a negative return on equity of 293.02%. The firm had revenue of $37.67 million for the quarter, compared to the consensus estimate of $42.19 million. As a group, analysts forecast that Heron Therapeutics will post -0.14 EPS for the current fiscal year.

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.