Heron Therapeutics (NASDAQ:HRTX) Upgraded to Hold at Zacks Research

Key Points

• Zacks Research upgraded Heron Therapeutics from “strong sell” to “hold.” The broader analyst consensus is also “Hold,” with two Buy, two Hold, and one Sell rating and a consensus price target of $2.50.
• Heron’s shares opened at $0.51, near the lower end of their $0.38–$1.88 one-year range. The company has a market capitalization of about $96.8 million and substantial leverage, with a debt-to-equity ratio of 17.51.
• The biotechnology company missed quarterly expectations, reporting an EPS loss of $0.04 versus the $0.03 expected and revenue of $34.71 million versus estimates of $36.72 million. Institutional investors own approximately 80.01% of the stock.

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

Several other analysts have also recently issued reports on HRTX. Wall Street Zen cut shares of Heron Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Needham & Company LLC lowered shares of Heron Therapeutics from a "buy" rating to a "hold" rating in a research note on Tuesday, June 2nd. Weiss Ratings restated a "sell (e+)" rating on shares of Heron Therapeutics in a report on Friday, July 17th. Finally, HC Wainwright dropped their price target on Heron Therapeutics to $2.00 and set a "buy" rating for the company in a research report on Wednesday, June 3rd. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $2.50.

Heron Therapeutics Stock Performance

NASDAQ HRTX opened at $0.51 on Monday. The company has a market cap of $96.82 million, a PE ratio of -2.84 and a beta of 1.65. The stock's 50 day simple moving average is $0.48 and its 200-day simple moving average is $0.86. Heron Therapeutics has a 1-year low of $0.38 and a 1-year high of $1.88. The company has a debt-to-equity ratio of 17.51, a current ratio of 2.53 and a quick ratio of 1.51.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The biotechnology company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.01). The firm had revenue of $34.71 million during the quarter, compared to analyst estimates of $36.72 million. Heron Therapeutics had a negative net margin of 20.53% and a negative return on equity of 7,747.30%. As a group, equities research analysts anticipate that Heron Therapeutics will post -0.09 EPS for the current fiscal year.

Institutional Trading of Heron Therapeutics

Several institutional investors have recently made changes to their positions in HRTX. Orbimed Advisors LLC purchased a new position in Heron Therapeutics in the first quarter worth approximately $7,855,000. Clearline Capital LP raised its position in Heron Therapeutics by 26.0% in the fourth quarter. Clearline Capital LP now owns 12,235,239 shares of the biotechnology company's stock valued at $15,906,000 after purchasing an additional 2,522,712 shares during the period. Pale Fire Capital SE lifted its stake in shares of Heron Therapeutics by 84.8% in the 1st quarter. Pale Fire Capital SE now owns 2,716,328 shares of the biotechnology company's stock valued at $2,173,000 after purchasing an additional 1,246,673 shares during the last quarter. Barclays PLC lifted its stake in shares of Heron Therapeutics by 8.5% in the 4th quarter. Barclays PLC now owns 303,209 shares of the biotechnology company's stock valued at $394,000 after purchasing an additional 23,852 shares during the last quarter. Finally, XTX Topco Ltd grew its holdings in shares of Heron Therapeutics by 687.6% during the 4th quarter. XTX Topco Ltd now owns 240,197 shares of the biotechnology company's stock worth $312,000 after purchasing an additional 209,700 shares during the period. Hedge funds and other 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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