Heron Therapeutics, Inc. (NASDAQ:HRTX) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Heron Therapeutics, Inc. (NASDAQ:HRTX) have earned an average rating of “Hold” from the five brokerages that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $2.50.

A number of research firms recently commented on HRTX. Needham & Company LLC downgraded Heron Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, June 2nd. Wall Street Zen lowered shares of Heron Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Heron Therapeutics in a research report on Tuesday, April 21st. Zacks Research lowered shares of Heron Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Monday, April 27th. Finally, HC Wainwright dropped their price target on Heron Therapeutics to $2.00 and set a “buy” rating for the company in a research report on Wednesday, June 3rd.

Heron Therapeutics Stock Down 3.3%

Shares of HRTX traded down $0.01 during midday trading on Friday, reaching $0.41. 2,679,071 shares of the stock were exchanged, compared to its average volume of 3,127,314. The company has a market capitalization of $78.44 million, a P/E ratio of -2.30 and a beta of 1.65. The company has a current ratio of 2.53, a quick ratio of 1.51 and a debt-to-equity ratio of 17.51. Heron Therapeutics has a 52 week low of $0.38 and a 52 week high of $2.25. The company’s 50 day moving average is $0.65 and its two-hundred day moving average is $0.96.

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 during the quarter, compared to the consensus estimate of $36.72 million. On average, sell-side analysts anticipate that Heron Therapeutics will post -0.09 earnings per share for the current year.

Hedge Funds Weigh In On Heron Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC grew its position in shares of Heron Therapeutics by 2,383.4% in the 4th quarter. Advisory Services Network LLC now owns 18,874 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 18,114 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Heron Therapeutics during the 2nd quarter worth $26,000. R Squared Ltd acquired a new stake in shares of Heron Therapeutics in the 1st quarter worth approximately $27,000. SG Americas Securities LLC increased its holdings in Heron Therapeutics by 39.1% during the 4th quarter. SG Americas Securities LLC now owns 24,377 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 6,858 shares in the last quarter. Finally, HORAN Wealth LLC purchased a new stake in Heron Therapeutics during the 1st quarter worth about $33,000. 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.