Heron Therapeutics (NASDAQ:HRTX) Stock Price Passes Above 200 Day Moving Average - What's Next?

Heron Therapeutics, Inc. (NASDAQ:HRTX - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.96 and traded as high as $2.23. Heron Therapeutics shares last traded at $2.20, with a volume of 1,054,068 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Needham & Company LLC reissued a "buy" rating and set a $4.00 price objective on shares of Heron Therapeutics in a research report on Friday, April 11th. HC Wainwright assumed coverage on Heron Therapeutics in a research report on Monday, June 9th. They set a "buy" rating and a $6.00 price objective for the company. Finally, Wall Street Zen raised Heron Therapeutics from a "hold" rating to a "buy" rating in a research report on Friday, June 6th.

Heron Therapeutics Price Performance

The company has a fifty day simple moving average of $2.04 and a two-hundred day simple moving average of $1.98. The company has a market capitalization of $332.58 million, a P/E ratio of -36.33 and a beta of 1.18.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The biotechnology company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.01) by $0.02. The business had revenue of $38.90 million during the quarter, compared to the consensus estimate of $37.08 million. Equities analysts anticipate that Heron Therapeutics, Inc. will post -0.13 earnings per share for the current year.

Hedge Funds Weigh In On Heron Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Heron Therapeutics by 0.8% during the first quarter. Vanguard Group Inc. now owns 8,225,585 shares of the biotechnology company's stock valued at $18,096,000 after acquiring an additional 67,976 shares during the period. Palisade Capital Management LP increased its stake in Heron Therapeutics by 34.7% during the first quarter. Palisade Capital Management LP now owns 5,286,931 shares of the biotechnology company's stock valued at $11,631,000 after acquiring an additional 1,360,542 shares during the period. Point72 Asset Management L.P. bought a new position in Heron Therapeutics during the fourth quarter valued at about $4,706,000. AIGH Capital Management LLC bought a new position in Heron Therapeutics during the first quarter valued at about $6,112,000. Finally, JW Asset Management LLC increased its stake in Heron Therapeutics by 2.0% during the first quarter. JW Asset Management LLC now owns 2,337,743 shares of the biotechnology company's stock valued at $5,143,000 after acquiring an additional 45,325 shares during the period. 80.01% of the stock is currently owned by institutional investors.

Heron Therapeutics Company Profile

Heron Therapeutics, Inc, a commercial-stage biotechnology company, focuses on enhancing the lives of patients by developing and commercializing therapeutic that enhances medical care. The company's product candidates utilize its proprietary Biochronomer, a drug delivery technology, which delivers therapeutic levels of a range of short-acting pharmacological agents over a period from days to weeks with a single administration.