Heron Therapeutics (NASDAQ:HRTX) Downgraded by StockNews.com to “Hold”

Heron Therapeutics (NASDAQ:HRTX) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.

Separately, Needham & Company LLC cut their price objective on Heron Therapeutics from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th.

Heron Therapeutics Price Performance

HRTX opened at $1.12 on Thursday. The stock has a market cap of $170.35 million, a P/E ratio of -6.22 and a beta of 1.81. The firm has a fifty day moving average price of $1.78 and a 200 day moving average price of $2.48. Heron Therapeutics has a 1 year low of $1.04 and a 1 year high of $3.93.

Heron Therapeutics (NASDAQ:HRTX) last posted its earnings results on Tuesday, November 12th. The biotechnology company reported ($0.03) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.03). The firm had revenue of $32.81 million for the quarter, compared to analysts’ expectations of $36.40 million. During the same period in the previous year, the company earned ($0.17) earnings per share. Equities analysts expect that Heron Therapeutics will post -0.13 EPS for the current year.

Institutional Trading of Heron Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its holdings in Heron Therapeutics by 80.7% in the 1st quarter. BNP Paribas Financial Markets now owns 51,296 shares of the biotechnology company’s stock worth $142,000 after buying an additional 22,904 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Heron Therapeutics by 51.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 40,705 shares of the biotechnology company’s stock worth $113,000 after acquiring an additional 13,811 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Heron Therapeutics by 15.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,922 shares of the biotechnology company’s stock worth $83,000 after acquiring an additional 3,991 shares during the last quarter. Valeo Financial Advisors LLC purchased a new stake in shares of Heron Therapeutics during the second quarter worth approximately $45,000. Finally, SG Americas Securities LLC acquired a new position in Heron Therapeutics in the 2nd quarter valued at $694,000. Hedge funds and other institutional investors own 80.01% of the company’s stock.

About Heron Therapeutics

Heron Therapeutics, Inc, a commercial-stage biotechnology company, focuses on enhancing the lives of patients by developing and commercializing therapeutic that enhances medical care. The company's product candidates utilize its proprietary Biochronomer, a drug delivery technology, which delivers therapeutic levels of a range of short-acting pharmacological agents over a period from days to weeks with a single administration.