Heron Therapeutics (NASDAQ:HRTX) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Heron Therapeutics, Inc. (NASDAQ:HRTX - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.91 and traded as high as $2.07. Heron Therapeutics shares last traded at $2.00, with a volume of 1,096,766 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have commented on HRTX shares. HC Wainwright started coverage on shares of Heron Therapeutics in a research report on Monday, June 9th. They issued a "buy" rating and a $6.00 target price for the company. Needham & Company LLC restated a "buy" rating and issued a $4.00 target price on shares of Heron Therapeutics in a research report on Friday, April 11th. Finally, Wall Street Zen upgraded shares of Heron Therapeutics from a "hold" rating to a "buy" rating in a research report on Friday, June 6th.

Heron Therapeutics Trading Up 2.6%

The firm has a market cap of $305.12 million, a PE ratio of -33.33 and a beta of 1.15. The company's 50-day moving average is $2.03 and its 200 day moving average is $1.91.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The biotechnology company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.02. The firm had revenue of $38.90 million during the quarter, compared to analysts' expectations of $37.08 million. On average, research analysts predict that Heron Therapeutics, Inc. will post -0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Heron Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. RFP Financial Group LLC purchased a new stake in Heron Therapeutics in the 1st quarter worth approximately $26,000. Nicolet Advisory Services LLC purchased a new stake in Heron Therapeutics in the 4th quarter worth approximately $25,000. Valeo Financial Advisors LLC lifted its position in Heron Therapeutics by 34.1% in the 1st quarter. Valeo Financial Advisors LLC now owns 18,152 shares of the biotechnology company's stock worth $40,000 after buying an additional 4,619 shares in the last quarter. Argent Advisors Inc. purchased a new stake in Heron Therapeutics in the 4th quarter worth approximately $31,000. Finally, Focus Partners Wealth purchased a new stake in Heron Therapeutics in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 80.01% of the company's stock.

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.

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