Wall Street Zen Upgrades Heron Therapeutics (NASDAQ:HRTX) to Sell

Key Points

• Wall Street Zen upgraded Heron Therapeutics to “sell,” while the broader analyst consensus remains “hold,” with two buy, two hold and one sell rating and a $2.00 average price target.
• Heron’s shares opened at $0.49, near the lower end of their 12-month range of $0.38 to $1.57. The company has a market capitalization of approximately $92.9 million and trades well below its 200-day moving average of $0.84.
• The biotechnology company missed quarterly expectations, reporting a loss of $0.04 per share versus a $0.03 consensus loss and revenue of $34.71 million versus $36.72 million expected. Hedge funds and other institutional investors own approximately 80% of its stock.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) was upgraded by stock analysts at Wall Street Zen to a "sell" rating in a research report issued on Saturday.

HRTX has been the topic of several other reports. Weiss Ratings restated a "sell (e+)" rating on shares of Heron Therapeutics in a research report on Friday, July 17th. Zacks Research upgraded Heron Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Monday, August 3rd. Needham & Company LLC lowered Heron Therapeutics from a "buy" rating to a "hold" rating in a research note on Tuesday, June 2nd. Finally, HC Wainwright cut their target price on shares of Heron Therapeutics to $2.00 and set a "buy" rating on the stock in a report on Wednesday, June 3rd. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $2.00.

Heron Therapeutics Stock Performance

NASDAQ HRTX opened at $0.49 on Friday. The company has a 50-day simple moving average of $0.45 and a two-hundred day simple moving average of $0.84. Heron Therapeutics has a 12-month low of $0.38 and a 12-month high of $1.57. The firm has a market cap of $92.90 million, a price-to-earnings ratio of -2.73 and a beta of 1.65. The company has a quick ratio of 1.51, a current ratio of 2.53 and a debt-to-equity ratio of 17.51.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last released 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). Heron Therapeutics had a negative return on equity of 7,747.30% and a negative net margin of 20.53%.The company had revenue of $34.71 million during the quarter, compared to analysts' expectations of $36.72 million. On average, equities analysts forecast that Heron Therapeutics will post -0.09 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Orbimed Advisors LLC purchased a new stake in Heron Therapeutics in the 1st quarter worth approximately $7,855,000. Clearline Capital LP grew its position in shares of Heron Therapeutics by 26.0% in the 4th quarter. Clearline Capital LP now owns 12,235,239 shares of the biotechnology company's stock worth $15,906,000 after buying an additional 2,522,712 shares during the last quarter. Pale Fire Capital SE increased its stake in shares of Heron Therapeutics by 84.8% during the first quarter. Pale Fire Capital SE now owns 2,716,328 shares of the biotechnology company's stock valued at $2,173,000 after buying an additional 1,246,673 shares during the period. HORAN Wealth LLC purchased a new position in shares of Heron Therapeutics during the first quarter valued at approximately $33,000. Finally, R Squared Ltd bought a new position in shares of Heron Therapeutics during the first quarter valued at approximately $27,000. Hedge funds and other institutional investors own 80.01% of the company's stock.

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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