Heron Therapeutics (NASDAQ:HRTX) Stock Passes Below Two Hundred Day Moving Average – Here’s What Happened

Heron Therapeutics, Inc. (NASDAQ:HRTX) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.98 and traded as low as $0.4112. Heron Therapeutics shares last traded at $0.4257, with a volume of 2,632,062 shares changing hands.

Wall Street Analyst Weigh In

HRTX has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Heron Therapeutics in a research note on Tuesday, April 21st. HC Wainwright decreased their target price on shares of Heron Therapeutics to $2.00 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. Wall Street Zen cut shares of Heron Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Zacks Research downgraded shares of Heron Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Monday, April 27th. Finally, Needham & Company LLC downgraded shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Heron Therapeutics has an average rating of “Hold” and an average price target of $2.50.

Heron Therapeutics Price Performance

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 firm has a market cap of $80.58 million, a price-to-earnings ratio of -2.37 and a beta of 1.65. The company’s 50-day moving average price is $0.70 and its 200-day moving average price is $0.98.

Heron Therapeutics (NASDAQ:HRTX) last posted its quarterly earnings data on Monday, May 11th. The biotechnology company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $34.71 million for the quarter, compared to analysts’ expectations of $36.72 million. On average, equities research analysts forecast that Heron Therapeutics, Inc. will post -0.09 EPS for the current year.

Hedge Funds Weigh In On Heron Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in HRTX. B. Riley Wealth Advisors Inc. acquired a new stake in Heron Therapeutics in the second quarter valued at approximately $26,000. Advisory Services Network LLC grew its holdings in Heron Therapeutics by 2,383.4% during the 4th quarter. Advisory Services Network LLC now owns 18,874 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 18,114 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Heron Therapeutics in the 2nd quarter valued at approximately $43,000. SG Americas Securities LLC increased its holdings in Heron Therapeutics by 39.1% in the fourth quarter. SG Americas Securities LLC now owns 24,377 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 6,858 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in Heron Therapeutics during the 3rd quarter worth about $34,000. 80.01% of the stock is owned by institutional investors and hedge funds.

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.