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

Shares of Heron Therapeutics, Inc. (NASDAQ:HRTX) have earned an average recommendation of “Hold” from the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $2.50.

HRTX has been the subject of several recent analyst reports. Wall Street Zen cut shares of Heron Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Zacks Research upgraded shares of Heron Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday. Needham & Company LLC cut shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, June 2nd. HC Wainwright reduced their price target on shares of Heron Therapeutics to $2.00 and set a “buy” rating for the company in a research report on Wednesday, June 3rd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Heron Therapeutics in a report on Friday, July 17th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Bank of America Corp DE raised its stake in shares of Heron Therapeutics by 19.7% during the 1st quarter. Bank of America Corp DE now owns 160,979 shares of the biotechnology company’s stock worth $129,000 after buying an additional 26,534 shares during the last quarter. Excelsior Advisor Network LLC acquired a new position in Heron Therapeutics during the first quarter worth about $229,000. Orbimed Advisors LLC purchased a new stake in shares of Heron Therapeutics in the first quarter valued at about $7,855,000. Pale Fire Capital SE grew its position in shares of Heron Therapeutics by 84.8% in the first quarter. Pale Fire Capital SE now owns 2,716,328 shares of the biotechnology company’s stock valued at $2,173,000 after purchasing an additional 1,246,673 shares during the last quarter. Finally, HORAN Wealth LLC purchased a new position in shares of Heron Therapeutics during the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 80.01% of the company’s stock.

Heron Therapeutics Trading Down 1.3%

Shares of HRTX stock opened at $0.50 on Thursday. The business’s fifty day moving average price is $0.47 and its 200 day moving average price is $0.85. Heron Therapeutics has a 1-year low of $0.38 and a 1-year high of $1.88. The firm has a market capitalization of $95.55 million, a PE ratio of -2.80 and a beta of 1.65. The company has a debt-to-equity ratio of 17.51, a current ratio of 2.53 and a quick ratio of 1.51.

Heron Therapeutics (NASDAQ:HRTX) last released its earnings results on Monday, May 11th. The biotechnology company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). The business had revenue of $34.71 million during the quarter, compared to analyst estimates of $36.72 million. Heron Therapeutics had a negative net margin of 20.53% and a negative return on equity of 7,747.30%. As a group, sell-side analysts forecast that Heron Therapeutics will post -0.09 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.