Heron Therapeutics (NASDAQ:HRTX) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Heron Therapeutics (NASDAQ:HRTX) from a strong sell rating to a hold rating in a report released on Monday,Zacks.com reports.

HRTX has been the subject of a number of other research reports. Needham & Company LLC cut shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Wall Street Zen lowered shares of Heron Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Heron Therapeutics in a research report on Friday, July 17th. Finally, HC Wainwright decreased their price objective on Heron Therapeutics to $2.00 and set a “buy” rating for the company in a report on Wednesday, June 3rd. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Heron Therapeutics presently has a consensus rating of “Hold” and an average price target of $2.50.

Heron Therapeutics Stock Performance

Shares of Heron Therapeutics stock opened at $0.51 on Monday. The company has a market capitalization of $96.82 million, a PE ratio of -2.84 and a beta of 1.65. The company has a 50-day simple moving average of $0.48 and a two-hundred day simple moving average of $0.86. Heron Therapeutics has a one year low of $0.38 and a one year high of $1.88. The company has a debt-to-equity ratio of 17.51, a quick ratio of 1.51 and a current ratio of 2.53.

Heron Therapeutics (NASDAQ:HRTX) last released its quarterly earnings results 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 net margin of 20.53% and a negative return on equity of 7,747.30%. The firm had revenue of $34.71 million during the quarter, compared to the consensus estimate of $36.72 million. Research analysts expect that Heron Therapeutics will post -0.09 EPS for the current fiscal year.

Institutional Trading of Heron Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Rubric Capital Management LP grew its position in Heron Therapeutics by 3.3% during the 4th quarter. Rubric Capital Management LP now owns 30,046,828 shares of the biotechnology company’s stock worth $39,061,000 after purchasing an additional 946,100 shares during the last quarter. Clearline Capital LP raised its holdings in shares of Heron Therapeutics by 26.0% in the fourth quarter. Clearline Capital LP now owns 12,235,239 shares of the biotechnology company’s stock worth $15,906,000 after buying an additional 2,522,712 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in shares of Heron Therapeutics by 9.2% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 11,185,325 shares of the biotechnology company’s stock worth $14,541,000 after buying an additional 946,100 shares during the last quarter. Orbimed Advisors LLC purchased a new position in shares of Heron Therapeutics in the first quarter worth $7,855,000. Finally, Velan Capital Investment Management LP lifted its stake in shares of Heron Therapeutics by 25.3% during the third quarter. Velan Capital Investment Management LP now owns 8,753,290 shares of the biotechnology company’s stock worth $11,029,000 after buying an additional 1,766,546 shares during the period. 80.01% of the stock is currently 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.