Heron Therapeutics (NASDAQ:HRTX) Stock Rating Upgraded by Zacks Research

Key Points

• Heron Therapeutics has been upgraded from a "strong sell" to a "hold" rating by Zacks Research, indicating a shift in analyst sentiment towards the stock.
• Following a recent earnings report, Heron missed consensus estimates by reporting a loss of ($0.02) EPS and revenue of $37.20 million, which was below expectations.
• Insider trading activity has increased, with significant purchases made by Director Adam Morgan and Rubric Capital Management, indicating growing confidence in the company among its insiders.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other research firms have also issued reports on HRTX. Needham & Company LLC decreased their target price on Heron Therapeutics from $4.00 to $3.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Wall Street Zen cut shares of Heron Therapeutics from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. HC Wainwright initiated coverage on shares of Heron Therapeutics in a research note on Monday, June 9th. They issued a "buy" rating and a $6.00 price objective for the company. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Heron Therapeutics in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Heron Therapeutics has a consensus rating of "Hold" and an average price target of $4.50.

Heron Therapeutics Stock Performance

Shares of HRTX stock opened at $1.35 on Tuesday. The firm has a market cap of $247.48 million, a P/E ratio of -67.50 and a beta of 1.25. The firm's 50 day moving average price is $1.36 and its 200-day moving average price is $1.81. Heron Therapeutics has a one year low of $1.04 and a one year high of $2.68.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last announced its earnings results on Friday, August 8th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). The business had revenue of $37.20 million during the quarter, compared to the consensus estimate of $38.08 million. Heron Therapeutics has set its FY 2025 guidance at EPS. As a group, research analysts predict that Heron Therapeutics will post -0.13 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Adam Morgan acquired 1,766,546 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was acquired at an average cost of $1.50 per share, with a total value of $2,649,819.00. Following the transaction, the director owned 8,753,290 shares in the company, valued at approximately $13,129,935. This trade represents a 25.28% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Rubric Capital Management Lp bought 2,387,225 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were purchased at an average price of $1.50 per share, with a total value of $3,580,837.50. Following the purchase, the insider owned 29,100,728 shares of the company's stock, valued at approximately $43,651,092. This represents a 8.94% increase in their position. The disclosure for this purchase can be found here. 5.86% of the stock is owned by insiders.

Institutional Trading of Heron Therapeutics

Institutional investors have recently bought and sold shares of the business. Valeo Financial Advisors LLC increased its holdings in shares of Heron Therapeutics by 34.1% in the 1st quarter. Valeo Financial Advisors LLC now owns 18,152 shares of the biotechnology company's stock valued at $40,000 after acquiring an additional 4,619 shares during the last quarter. ProShare Advisors LLC boosted its holdings in Heron Therapeutics by 23.4% in the second quarter. ProShare Advisors LLC now owns 31,368 shares of the biotechnology company's stock valued at $65,000 after purchasing an additional 5,953 shares in the last quarter. Palumbo Wealth Management LLC boosted its holdings in Heron Therapeutics by 6.7% in the second quarter. Palumbo Wealth Management LLC now owns 132,433 shares of the biotechnology company's stock valued at $274,000 after purchasing an additional 8,330 shares in the last quarter. Richmond Brothers Inc. increased its stake in Heron Therapeutics by 1.8% in the second quarter. Richmond Brothers Inc. now owns 554,469 shares of the biotechnology company's stock valued at $1,148,000 after purchasing an additional 9,568 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Heron Therapeutics by 5.1% during the second quarter. The Manufacturers Life Insurance Company now owns 241,048 shares of the biotechnology company's stock worth $499,000 after purchasing an additional 11,716 shares in the last quarter. 80.01% of the stock is owned by hedge funds and other institutional investors.

About Heron Therapeutics

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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