Heron Therapeutics, Inc. (NASDAQ:HRTX) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Analysts have a consensus “Hold” rating on Heron Therapeutics, with three holds, one sell and one buy; the average 12-month price target is $2.00.
• Institutional investors own approximately 80.01% of the company, with several major funds increasing their positions and BlackRock and Orbimed Advisors establishing new stakes.
• HRTX shares opened at $0.33, near their 52-week low, while the company reported a quarterly loss of $0.03 per share and revenue of $37.67 million, below analyst expectations of $42.19 million.

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

A number of research analysts recently commented on HRTX shares. Weiss Ratings reiterated a "sell (e+)" rating on shares of Heron Therapeutics in a research note on Friday, July 17th. Zacks Research raised Heron Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Monday, August 3rd. Needham & Company LLC cut Heron Therapeutics from a "buy" rating to a "hold" rating in a research note on Tuesday, June 2nd. Wall Street Zen upgraded shares of Heron Therapeutics to a "sell" rating in a research report on Saturday, August 8th. Finally, HC Wainwright lowered shares of Heron Therapeutics from a "buy" rating to a "neutral" rating in a research report on Tuesday, August 11th.

Institutional Trading of Heron Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Rubric Capital Management LP raised its stake in Heron Therapeutics by 3.3% in the fourth quarter. Rubric Capital Management LP now owns 30,046,828 shares of the biotechnology company's stock valued at $39,061,000 after buying an additional 946,100 shares during the period. Clearline Capital LP lifted its position in Heron Therapeutics by 26.0% during the fourth quarter. Clearline Capital LP now owns 12,235,239 shares of the biotechnology company's stock worth $15,906,000 after acquiring an additional 2,522,712 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its position 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 valued at $14,541,000 after purchasing an additional 946,100 shares during the last quarter. BlackRock Inc. acquired a new stake in Heron Therapeutics during the 2nd quarter worth approximately $4,503,000. Finally, Orbimed Advisors LLC acquired a new position in Heron Therapeutics in the 1st quarter valued at $7,855,000. Institutional investors own 80.01% of the company's stock.

Heron Therapeutics Price Performance

Shares of HRTX opened at $0.33 on Monday. The company has a debt-to-equity ratio of 24.35, a current ratio of 2.49 and a quick ratio of 1.51. The company's fifty day moving average price is $0.42 and its 200-day moving average price is $0.73. Heron Therapeutics has a 1-year low of $0.30 and a 1-year high of $1.57. The firm has a market capitalization of $62.01 million, a PE ratio of -1.72 and a beta of 1.65.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The biotechnology company reported ($0.03) earnings per share (EPS) for the quarter. The firm had revenue of $37.67 million for the quarter, compared to analysts' expectations of $42.19 million. Heron Therapeutics had a negative return on equity of 293.02% and a negative net margin of 22.52%. On average, equities research analysts predict that Heron Therapeutics will post -0.14 EPS for the current 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.

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