Heron Therapeutics (NASDAQ:HRTX) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of Heron Therapeutics (NASDAQ:HRTX) from a sell rating to a hold rating in a report issued on Thursday.

Separately, Needham & Company LLC reduced their target price on shares of Heron Therapeutics from $5.00 to $4.00 and set a buy rating for the company in a research note on Wednesday.

Heron Therapeutics Stock Up 6.6 %

Heron Therapeutics stock opened at $0.92 on Thursday. The firm has a 50 day moving average price of $0.87 and a 200-day moving average price of $1.27. Heron Therapeutics has a twelve month low of $0.50 and a twelve month high of $3.41. The company has a market capitalization of $129.05 million, a P/E ratio of -0.96 and a beta of 1.12.

Heron Therapeutics (NASDAQ:HRTX) last issued its quarterly earnings results on Monday, August 14th. The biotechnology company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.12). Heron Therapeutics had a negative net margin of 115.80% and a negative return on equity of 21,127.62%. The firm had revenue of $31.76 million for the quarter, compared to analysts’ expectations of $31.75 million. Equities analysts expect that Heron Therapeutics will post -1.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Heron Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of HRTX. Rubric Capital Management LP increased its holdings in Heron Therapeutics by 127.3% during the 3rd quarter. Rubric Capital Management LP now owns 26,713,503 shares of the biotechnology company’s stock worth $27,515,000 after acquiring an additional 14,963,503 shares during the period. State Street Corp increased its holdings in shares of Heron Therapeutics by 26.4% in the second quarter. State Street Corp now owns 16,328,796 shares of the biotechnology company’s stock worth $45,557,000 after purchasing an additional 3,405,427 shares during the period. Vanguard Group Inc. raised its position in shares of Heron Therapeutics by 3.4% in the first quarter. Vanguard Group Inc. now owns 9,934,688 shares of the biotechnology company’s stock worth $56,827,000 after buying an additional 325,643 shares in the last quarter. BlackRock Inc. raised its position in shares of Heron Therapeutics by 5.3% in the third quarter. BlackRock Inc. now owns 9,258,303 shares of the biotechnology company’s stock worth $39,071,000 after buying an additional 462,403 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Heron Therapeutics by 4.9% during the first quarter. JPMorgan Chase & Co. now owns 7,086,791 shares of the biotechnology company’s stock worth $10,701,000 after buying an additional 332,792 shares in the last quarter. 81.77% of the stock is currently owned by institutional investors.

About Heron Therapeutics

Heron Therapeutics, Inc, a biotechnology company, engages in developing treatments to address unmet patient needs. 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.