Heron Therapeutics (NASDAQ:HRTX) Upgraded at Zacks Research

Heron Therapeutics (NASDAQ:HRTX) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Other research analysts have also issued research reports about the stock. HC Wainwright lowered their price objective on shares of Heron Therapeutics to $2.00 and set a “buy” rating for the company in a research note on Wednesday, June 3rd. Wall Street Zen downgraded shares of Heron Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Heron Therapeutics in a report on Friday, July 17th. Finally, Needham & Company LLC cut shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Heron Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $2.50.

Heron Therapeutics Trading Up 0.0%

HRTX opened at $0.51 on Monday. Heron Therapeutics has a 52 week low of $0.38 and a 52 week high of $1.88. The company has a quick ratio of 1.51, a current ratio of 2.53 and a debt-to-equity ratio of 17.51. The business has a fifty day simple moving average of $0.48 and a 200-day simple moving average of $0.86. The firm has a market cap of $96.82 million, a P/E ratio of -2.84 and a beta of 1.65.

Heron Therapeutics (NASDAQ:HRTX) last posted its earnings results on Monday, May 11th. The biotechnology company reported ($0.04) earnings per share (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 firm had revenue of $34.71 million for the quarter, compared to analyst estimates of $36.72 million. On average, equities analysts expect that Heron Therapeutics will post -0.09 earnings per share for the current year.

Hedge Funds Weigh In On Heron Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Rubric Capital Management LP increased its holdings in Heron Therapeutics by 3.3% in the fourth quarter. Rubric Capital Management LP now owns 30,046,828 shares of the biotechnology company’s stock valued at $39,061,000 after buying an additional 946,100 shares during the last quarter. Clearline Capital LP lifted its holdings in Heron Therapeutics by 26.0% during the 4th quarter. Clearline Capital LP now owns 12,235,239 shares of the biotechnology company’s stock worth $15,906,000 after buying an additional 2,522,712 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in shares of Heron Therapeutics by 9.2% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 11,185,325 shares of the biotechnology company’s stock valued at $14,541,000 after acquiring an additional 946,100 shares during the last quarter. Orbimed Advisors LLC purchased a new position in shares of Heron Therapeutics in the 1st quarter valued at about $7,855,000. Finally, Velan Capital Investment Management LP raised its position in shares of Heron Therapeutics by 25.3% during the 3rd quarter. Velan Capital Investment Management LP now owns 8,753,290 shares of the biotechnology company’s stock worth $11,029,000 after acquiring an additional 1,766,546 shares in 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.