Heron Therapeutics, Inc. (NASDAQ:HRTX) Stock Has Consensus Target Price of $2.00

Key Points

• Analysts hold a cautious view: Heron Therapeutics has a consensus “Hold” rating from five analysts, with one sell, three hold, and one buy recommendation. The average 12-month price target is $2.00.
• Shares remain under pressure: HRTX opened at $0.29, versus a 52-week range of $0.26 to $1.57. The company reported a quarterly loss of $0.03 per share and revenue of $37.67 million, below analyst expectations of $42.19 million.
• Institutional ownership is significant: Hedge funds and other institutional investors own approximately 80.01% of Heron’s stock, with several firms recently increasing or initiating positions.

Heron Therapeutics, Inc. (NASDAQ:HRTX - Get Free Report) has been assigned a consensus rating of "Hold" from the five analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $2.00.

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

Heron Therapeutics Trading Down 0.3%

Shares of HRTX stock opened at $0.29 on Friday. The stock has a market capitalization of $55.06 million, a P/E ratio of -1.53 and a beta of 1.61. Heron Therapeutics has a fifty-two week low of $0.26 and a fifty-two week high of $1.57. 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 company has a 50 day moving average price of $0.37 and a 200 day moving average price of $0.62.

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

Institutional Investors Weigh In On Heron Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Clearline Capital LP raised its holdings 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 purchasing an additional 2,522,712 shares in the last quarter. BlackRock Inc. acquired a new stake in Heron Therapeutics during the 2nd quarter worth $4,503,000. Orbimed Advisors LLC purchased a new stake in Heron Therapeutics in the first quarter valued at $7,855,000. Tejara Capital Ltd purchased a new stake in Heron Therapeutics in the second quarter valued at $2,779,000. Finally, Pale Fire Capital SE boosted its stake in Heron Therapeutics by 84.8% in the first quarter. Pale Fire Capital SE now owns 2,716,328 shares of the biotechnology company's stock valued at $2,173,000 after acquiring an additional 1,246,673 shares in the last quarter. Hedge funds and other institutional investors own 80.01% of the company's stock.

About Heron Therapeutics

Heron Therapeutics, Inc is a commercial-stage biotechnology company focused on developing and commercializing medicines for acute care and oncology. The company uses its Biochronomer drug-delivery platform to formulate therapies intended to provide sustained drug release and improve treatment convenience, efficacy, or tolerability.

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

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