Heron Therapeutics, Inc. (NASDAQ:HRTX) Receives $4.50 Average Price Target from Brokerages

Shares of Heron Therapeutics, Inc. (NASDAQ:HRTX) have been assigned an average rating of “Hold” from the five brokerages that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation and three have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $4.50.

A number of research analysts have weighed in on HRTX shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Heron Therapeutics in a report on Thursday, January 22nd. Zacks Research downgraded Heron Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 26th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $6.00 price target on shares of Heron Therapeutics in a research report on Friday, January 9th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Rubric Capital Management LP grew its position in shares of Heron Therapeutics by 3.3% during the 4th quarter. Rubric Capital Management LP now owns 30,046,828 shares of the biotechnology company’s stock valued at $39,061,000 after acquiring an additional 946,100 shares during the period. Clearline Capital LP lifted its position in Heron Therapeutics by 26.0% during 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 in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in Heron Therapeutics by 9.2% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 11,185,325 shares of the biotechnology company’s stock valued at $14,541,000 after purchasing an additional 946,100 shares in the last quarter. Velan Capital Investment Management LP grew its holdings in Heron Therapeutics by 25.3% during the third quarter. Velan Capital Investment Management LP now owns 8,753,290 shares of the biotechnology company’s stock valued at $11,029,000 after purchasing an additional 1,766,546 shares during the period. Finally, Millennium Management LLC grew its holdings in Heron Therapeutics by 2,785.2% during the fourth quarter. Millennium Management LLC now owns 7,169,908 shares of the biotechnology company’s stock valued at $9,321,000 after purchasing an additional 6,921,405 shares during the period. Hedge funds and other institutional investors own 80.01% of the company’s stock.

Heron Therapeutics Trading Down 5.0%

NASDAQ:HRTX opened at $0.88 on Monday. The company has a market cap of $166.24 million, a PE ratio of -6.78 and a beta of 1.26. The company has a current ratio of 2.48, a quick ratio of 1.51 and a debt-to-equity ratio of 10.59. The company has a 50 day simple moving average of $1.25 and a two-hundred day simple moving average of $1.25. Heron Therapeutics has a 12 month low of $0.88 and a 12 month high of $2.61.

Heron Therapeutics (NASDAQ:HRTX) last released its quarterly earnings results on Thursday, February 26th. The biotechnology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.01. The firm had revenue of $40.59 million for the quarter, compared to the consensus estimate of $39.53 million. Research analysts forecast that Heron Therapeutics will post -0.13 earnings per share for the current year.

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.