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

Heron Therapeutics, Inc. (NASDAQ:HRTX) has earned an average recommendation of “Hold” from the five ratings firms that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $2.50.

Several research firms recently issued reports on HRTX. Zacks Research downgraded shares of Heron Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Monday, April 27th. 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. Wall Street Zen downgraded shares of Heron Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Heron Therapeutics in a research report on Tuesday, April 21st. Finally, Needham & Company LLC downgraded shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 2nd.

Heron Therapeutics Stock Performance

NASDAQ HRTX opened at $0.38 on Wednesday. The company has a fifty day simple moving average of $0.85 and a 200 day simple moving average of $1.07. Heron Therapeutics has a 12-month low of $0.38 and a 12-month high of $2.30. The company has a current ratio of 2.53, a quick ratio of 1.51 and a debt-to-equity ratio of 17.51. The company has a market cap of $72.30 million, a P/E ratio of -2.12 and a beta of 1.58.

Heron Therapeutics (NASDAQ:HRTX) last posted its quarterly 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 net margin of 20.53% and a negative return on equity of 7,747.30%. The business had revenue of $34.71 million during the quarter, compared to analyst estimates of $36.72 million. Sell-side analysts predict that Heron Therapeutics will post -0.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Heron Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of HRTX. Goldman Sachs Group Inc. raised its position in Heron Therapeutics by 57.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,028,678 shares of the biotechnology company’s stock valued at $2,263,000 after buying an additional 373,518 shares during the last quarter. JPMorgan Chase & Co. raised its position in Heron Therapeutics by 36.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 953,080 shares of the biotechnology company’s stock valued at $1,973,000 after buying an additional 256,637 shares during the last quarter. Rhumbline Advisers raised its position in Heron Therapeutics by 29.3% in the 2nd quarter. Rhumbline Advisers now owns 222,438 shares of the biotechnology company’s stock valued at $460,000 after buying an additional 50,344 shares during the last quarter. Prudential Financial Inc. raised its position in Heron Therapeutics by 231.0% in the 2nd quarter. Prudential Financial Inc. now owns 36,465 shares of the biotechnology company’s stock valued at $75,000 after buying an additional 25,450 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in Heron Therapeutics in the 2nd quarter valued at $43,000. 80.01% of the stock is owned by hedge funds and other institutional investors.

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.