Heron Therapeutics (NASDAQ:HRTX) Rating Lowered to “Hold” at StockNews.com

Heron Therapeutics (NASDAQ:HRTX) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

Separately, Needham & Company LLC reiterated a “buy” rating and set a $4.00 price target on shares of Heron Therapeutics in a research report on Wednesday, December 4th.

Heron Therapeutics Stock Down 2.6 %

NASDAQ:HRTX opened at $1.51 on Tuesday. The stock has a market capitalization of $229.66 million, a price-to-earnings ratio of -8.39 and a beta of 1.67. Heron Therapeutics has a 52 week low of $1.04 and a 52 week high of $3.93. The firm has a 50 day moving average of $1.53 and a 200 day moving average of $2.12.

Heron Therapeutics (NASDAQ:HRTX) last posted its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). The company had revenue of $32.81 million for the quarter, compared to analyst estimates of $36.40 million. During the same quarter last year, the company earned ($0.17) EPS. As a group, analysts expect that Heron Therapeutics will post -0.13 EPS for the current year.

Hedge Funds Weigh In On Heron Therapeutics

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in Heron Therapeutics by 295.8% in the third quarter. JPMorgan Chase & Co. now owns 206,711 shares of the biotechnology company’s stock valued at $411,000 after purchasing an additional 154,487 shares during the period. Principal Financial Group Inc. grew its stake in shares of Heron Therapeutics by 456.5% in the third quarter. Principal Financial Group Inc. now owns 102,651 shares of the biotechnology company’s stock valued at $204,000 after buying an additional 84,205 shares in the last quarter. Barclays PLC raised its holdings in shares of Heron Therapeutics by 29.8% in the 3rd quarter. Barclays PLC now owns 218,455 shares of the biotechnology company’s stock valued at $434,000 after buying an additional 50,109 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Heron Therapeutics during the 3rd quarter worth about $39,000. Finally, XTX Topco Ltd boosted its holdings in Heron Therapeutics by 449.0% during the 3rd quarter. XTX Topco Ltd now owns 297,568 shares of the biotechnology company’s stock valued at $592,000 after acquiring an additional 243,363 shares during the period. Institutional investors and hedge funds 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.