Brokerages Set Heron Therapeutics, Inc. (NASDAQ:HRTX) Target Price at $4.50

Shares of Heron Therapeutics, Inc. (NASDAQ:HRTX) have been given an average recommendation of “Hold” by the five ratings firms that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $4.50.

HRTX has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Heron Therapeutics in a research report on Thursday, January 22nd. Zacks Research downgraded Heron Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 26th. Finally, HC Wainwright restated a “buy” rating and issued a $6.00 target price on shares of Heron Therapeutics in a report on Friday, January 9th.

Hedge Funds Weigh In On Heron Therapeutics

Large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. grew its stake in shares of 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 worth $2,263,000 after acquiring an additional 373,518 shares in the last quarter. Prospera Financial Services Inc bought a new position in shares of Heron Therapeutics during the second quarter valued at about $103,000. Los Angeles Capital Management LLC boosted its holdings in Heron Therapeutics by 292.5% during the second quarter. Los Angeles Capital Management LLC now owns 266,128 shares of the biotechnology company’s stock worth $551,000 after purchasing an additional 198,325 shares during the last quarter. Monaco Asset Management SAM grew its position in Heron Therapeutics by 12.5% in the 2nd quarter. Monaco Asset Management SAM now owns 1,080,000 shares of the biotechnology company’s stock worth $2,236,000 after purchasing an additional 120,000 shares in the last quarter. Finally, ProShare Advisors LLC grew its position in Heron Therapeutics by 23.4% in the 2nd quarter. ProShare Advisors LLC now owns 31,368 shares of the biotechnology company’s stock worth $65,000 after purchasing an additional 5,953 shares in the last quarter. 80.01% of the stock is currently owned by institutional investors.

Heron Therapeutics Stock Performance

HRTX opened at $0.97 on Monday. The company has a current ratio of 2.48, a quick ratio of 1.51 and a debt-to-equity ratio of 10.59. The company’s fifty day moving average price is $1.26 and its two-hundred day moving average price is $1.25. Heron Therapeutics has a 1-year low of $0.91 and a 1-year high of $2.61. The company has a market cap of $182.88 million, a price-to-earnings ratio of -7.46 and a beta of 1.26.

Heron Therapeutics (NASDAQ:HRTX) last issued its quarterly earnings data on Thursday, February 26th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. The business had revenue of $40.59 million for the quarter, compared to analyst estimates of $39.53 million. On average, analysts expect that Heron Therapeutics will post -0.13 EPS for the current fiscal year.

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.