Heron Therapeutics (NASDAQ:HRTX) Downgraded by Zacks Research to "Strong Sell"

Key Points

• Zacks Research downgraded Heron Therapeutics (HRTX) from a "hold" to a "strong sell," while analyst sentiment is mixed (three Buys, two Sells) leaving a consensus rating of Hold and a $4.50 consensus target price.
• Shares trade near $1.21 (1‑year range $0.74–$2.61) with a $228M market cap and negative PE (-9.31); the company modestly beat quarterly revenue and EPS estimates but is still forecast to report about -$0.05 EPS for the current fiscal year.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) was downgraded by research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Monday,Zacks.com reports.

A number of other brokerages also recently commented on HRTX. HC Wainwright reissued a "buy" rating and issued a $6.00 price objective on shares of Heron Therapeutics in a research report on Friday, January 9th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Heron Therapeutics in a research note on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $4.50.

Heron Therapeutics Stock Performance

Shares of HRTX opened at $1.21 on Monday. Heron Therapeutics has a 1 year low of $0.74 and a 1 year high of $2.61. The stock has a market capitalization of $228.25 million, a PE ratio of -9.31 and a beta of 1.42. The company has a debt-to-equity ratio of 10.59, a quick ratio of 1.51 and a current ratio of 2.48. The stock has a 50-day simple moving average of $0.96 and a 200-day simple moving average of $1.16.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last released its earnings results on Thursday, February 26th. The biotechnology company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.03) by $0.01. The firm had revenue of $40.59 million for the quarter, compared to analysts' expectations of $39.53 million. On average, analysts predict that Heron Therapeutics will post -0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Heron Therapeutics

Several large investors have recently modified their holdings of the company. PKS Advisory Services LLC purchased a new position in shares of Heron Therapeutics in the 3rd quarter valued at about $25,000. Advisory Services Network LLC lifted its position in shares of Heron Therapeutics by 2,383.4% during the 4th quarter. Advisory Services Network LLC now owns 18,874 shares of the biotechnology company's stock valued at $25,000 after acquiring an additional 18,114 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Heron Therapeutics during the 2nd quarter worth approximately $26,000. Jones Financial Companies Lllp grew its holdings in shares of Heron Therapeutics by 5,541.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 24,088 shares of the biotechnology company's stock worth $29,000 after acquiring an additional 23,661 shares during the period. Finally, SG Americas Securities LLC increased its stake in Heron Therapeutics by 39.1% in the 4th quarter. SG Americas Securities LLC now owns 24,377 shares of the biotechnology company's stock valued at $32,000 after purchasing an additional 6,858 shares in the last quarter. 80.01% of the stock is owned by institutional investors and hedge funds.

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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