Heron Therapeutics, Inc. (NASDAQ:HRTX) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Shares have a consensus analyst rating of Hold from five analysts (1 sell, 1 hold, 3 buy) with an average 1‑year price target of $4.50.
• Heron slightly beat quarterly estimates, reporting EPS of ($0.02) vs. ($0.03) expected and revenue of $40.59M vs. $39.53M, while the stock trades around $1.19 with a 52‑week range of $0.74–$2.61 and a market cap near $224M.
• 80.01% institutional ownership and recent sizable position increases by firms including Goldman Sachs and JPMorgan indicate notable hedge fund/institutional interest.

Shares of Heron Therapeutics, Inc. (NASDAQ:HRTX - Get Free Report) have earned a consensus recommendation of "Hold" from the five analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $4.50.

A number of research analysts have weighed in on the stock. Weiss Ratings reiterated a "sell (e+)" rating on shares of Heron Therapeutics in a research report on Tuesday, April 21st. Zacks Research upgraded shares of Heron Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Friday, March 27th. Finally, HC Wainwright reiterated a "buy" rating and set a $6.00 price objective on shares of Heron Therapeutics in a research report on Friday, January 9th.

Heron Therapeutics Price Performance

Heron Therapeutics stock opened at $1.19 on Tuesday. The company has a quick ratio of 1.51, a current ratio of 2.48 and a debt-to-equity ratio of 10.59. Heron Therapeutics has a 52-week low of $0.74 and a 52-week high of $2.61. The company has a market cap of $224.48 million, a price-to-earnings ratio of -9.15 and a beta of 1.42. The firm's fifty day moving average is $0.96 and its 200 day moving average is $1.16.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The biotechnology company reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.03) by $0.01. The firm had revenue of $40.59 million for the quarter, compared to the consensus estimate of $39.53 million. Sell-side analysts forecast that Heron Therapeutics will post -0.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of HRTX. Goldman Sachs Group Inc. increased its position in Heron Therapeutics by 57.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,028,678 shares of the biotechnology company's stock valued at $2,263,000 after acquiring an additional 373,518 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Heron Therapeutics by 36.8% in the second quarter. JPMorgan Chase & Co. now owns 953,080 shares of the biotechnology company's stock worth $1,973,000 after purchasing an additional 256,637 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Heron Therapeutics by 29.3% in the second quarter. Rhumbline Advisers now owns 222,438 shares of the biotechnology company's stock worth $460,000 after purchasing an additional 50,344 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of Heron Therapeutics by 231.0% in the second quarter. Prudential Financial Inc. now owns 36,465 shares of the biotechnology company's stock worth $75,000 after purchasing an additional 25,450 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new position in shares of Heron Therapeutics in the second quarter worth about $43,000. 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 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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