Heron Therapeutics, Inc. (NASDAQ:HRTX) Receives $2.50 Consensus PT from Brokerages

Heron Therapeutics, Inc. (NASDAQ:HRTX) has earned a consensus rating of “Hold” from the five ratings firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $2.50.

HRTX has been the topic of a number of research analyst reports. HC Wainwright reduced their price objective on shares of Heron Therapeutics to $2.00 and set a “buy” rating on the stock in a research note on Wednesday, June 3rd. Zacks Research downgraded shares of Heron Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Monday, April 27th. Wall Street Zen downgraded shares of Heron Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Heron Therapeutics in a research note on Tuesday, April 21st. Finally, Needham & Company LLC downgraded shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 2nd.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its position in shares of Heron Therapeutics by 57.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,028,678 shares of the biotechnology company’s stock worth $2,263,000 after buying an additional 373,518 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Heron Therapeutics by 36.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 953,080 shares of the biotechnology company’s stock worth $1,973,000 after buying an additional 256,637 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Heron Therapeutics by 29.3% in the 2nd quarter. Rhumbline Advisers now owns 222,438 shares of the biotechnology company’s stock worth $460,000 after buying an additional 50,344 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of Heron Therapeutics by 231.0% in the 2nd quarter. Prudential Financial Inc. now owns 36,465 shares of the biotechnology company’s stock worth $75,000 after buying an additional 25,450 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new position in shares of Heron Therapeutics in the 2nd quarter worth about $43,000. 80.01% of the stock is currently owned by institutional investors.

Heron Therapeutics Price Performance

Shares of HRTX stock opened at $0.42 on Wednesday. The company has a market capitalization of $79.23 million, a PE ratio of -2.33 and a beta of 1.58. The firm has a fifty day simple moving average of $0.81 and a 200-day simple moving average of $1.04. The company has a current ratio of 2.53, a quick ratio of 1.51 and a debt-to-equity ratio of 17.51. Heron Therapeutics has a twelve month low of $0.38 and a twelve month high of $2.30.

Heron Therapeutics (NASDAQ:HRTX) last announced its earnings results on Monday, May 11th. The biotechnology company reported ($0.04) earnings per share 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 analysts’ expectations of $36.72 million. Heron Therapeutics had a negative net margin of 20.53% and a negative return on equity of 7,747.30%. Equities research analysts anticipate that Heron Therapeutics will post -0.09 earnings per share for the current fiscal 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.