Heron Therapeutics, Inc. (HRTX) - What Are Investment Firms Thinking About This Stock?

Key Points

• Analyst sentiment is neutral: Heron Therapeutics has a consensus “Hold” rating from five analysts, with one sell, three hold and one buy rating. The average 12-month price target is $2.00.
• Financial performance remains weak: Heron reported quarterly revenue of $37.67 million, below the $42.19 million estimate, and a loss of $0.03 per share. Analysts expect a full-year loss of approximately $0.14 per share.
• Institutional ownership is substantial: Hedge funds and other institutional investors own about 80% of HRTX shares, with firms including BlackRock, Orbimed Advisors and Tejara Capital recently establishing or increasing positions.

Shares of Heron Therapeutics, Inc. (NASDAQ:HRTX - Get Free Report) have received a consensus rating of "Hold" from the five brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $2.00.

HRTX has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Heron Therapeutics to a "sell" rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Heron Therapeutics in a report on Thursday. HC Wainwright downgraded shares of Heron Therapeutics from a "buy" rating to a "neutral" rating in a research note on Tuesday, August 11th. Finally, Zacks Research raised shares of Heron Therapeutics from a "strong sell" rating to a "hold" rating in a report on Monday, August 3rd.

Heron Therapeutics Price Performance

Shares of HRTX stock opened at $0.36 on Tuesday. Heron Therapeutics has a fifty-two week low of $0.26 and a fifty-two week high of $1.57. The firm has a market capitalization of $68.52 million, a price-to-earnings ratio of -1.90 and a beta of 1.62. The company has a debt-to-equity ratio of 24.35, a quick ratio of 1.51 and a current ratio of 2.49. The stock's 50-day simple moving average is $0.33 and its 200-day simple moving average is $0.56.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The biotechnology company reported ($0.03) earnings per share (EPS) for the quarter. The company had revenue of $37.67 million for the quarter, compared to analyst estimates of $42.19 million. Heron Therapeutics had a negative net margin of 22.52% and a negative return on equity of 293.02%. As a group, equities analysts forecast that Heron Therapeutics will post -0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Heron Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HRTX. BlackRock Inc. acquired a new position in shares of Heron Therapeutics in the second quarter valued at about $4,503,000. Orbimed Advisors LLC purchased a new position in shares of Heron Therapeutics in the first quarter worth about $7,855,000. Tejara Capital Ltd purchased a new position in shares of Heron Therapeutics in the second quarter worth about $2,779,000. Pale Fire Capital SE lifted its holdings in shares of Heron Therapeutics by 84.8% during the first quarter. Pale Fire Capital SE now owns 2,716,328 shares of the biotechnology company's stock worth $2,173,000 after purchasing an additional 1,246,673 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in shares of Heron Therapeutics during the second quarter worth about $445,000. Hedge funds and other institutional investors own 80.01% of the company's stock.

Heron Therapeutics Company Profile

Heron Therapeutics, Inc is a commercial-stage biotechnology company focused on developing and commercializing medicines for acute care and oncology-related supportive care. The company's products are designed to address patient needs in areas such as postsurgical pain and chemotherapy-induced nausea and vomiting.

Heron's portfolio includes ZYNRELEF, an extended-release solution combining bupivacaine and meloxicam for the management of postsurgical pain, and APONVIE, an injectable formulation of aprepitant used to help prevent postoperative nausea and vomiting.

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