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

Heron Therapeutics, Inc. (NASDAQ:HRTX) has received a consensus recommendation of “Hold” from the five ratings firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating and three have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $4.50.

HRTX has been the subject of a number of research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Heron Therapeutics in a report on Thursday, January 22nd. HC Wainwright reaffirmed a “buy” rating and set a $6.00 price target on shares of Heron Therapeutics in a report on Friday, January 9th. Finally, Zacks Research cut Heron Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 26th.

Institutional Trading of Heron Therapeutics

A number of large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its holdings in shares of Heron Therapeutics by 57.0% during 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 during the last quarter. Prospera Financial Services Inc bought a new stake in Heron Therapeutics in the 2nd quarter worth approximately $103,000. Los Angeles Capital Management LLC raised its stake in Heron Therapeutics by 292.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 266,128 shares of the biotechnology company’s stock valued at $551,000 after buying an additional 198,325 shares during the last quarter. Monaco Asset Management SAM raised its stake in Heron Therapeutics by 12.5% during the 2nd quarter. Monaco Asset Management SAM now owns 1,080,000 shares of the biotechnology company’s stock valued at $2,236,000 after buying an additional 120,000 shares during the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of Heron Therapeutics by 23.4% during the 2nd quarter. ProShare Advisors LLC now owns 31,368 shares of the biotechnology company’s stock valued at $65,000 after buying an additional 5,953 shares during the period. 80.01% of the stock is currently owned by institutional investors.

Heron Therapeutics Trading Down 5.0%

Shares of NASDAQ HRTX opened at $0.88 on Monday. The firm’s 50 day moving average price is $1.25 and its 200-day moving average price is $1.25. The company has a market cap of $166.24 million, a PE ratio of -6.78 and a beta of 1.26. Heron Therapeutics has a 52-week low of $0.88 and a 52-week high of $2.61. The company has a debt-to-equity ratio of 10.59, a quick ratio of 1.51 and a current ratio of 2.48.

Heron Therapeutics (NASDAQ:HRTX) last announced its quarterly earnings results on Thursday, February 26th. The biotechnology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.01. The firm had revenue of $40.59 million for the quarter, compared to the consensus estimate of $39.53 million. On average, equities research analysts expect that Heron Therapeutics will post -0.13 EPS for the current fiscal year.

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.