Heron Therapeutics (NASDAQ:HRTX) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Heron Therapeutics, Inc. (NASDAQ:HRTX) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.82 and traded as high as $1.91. Heron Therapeutics shares last traded at $1.79, with a volume of 651,612 shares.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on HRTX shares. StockNews.com downgraded shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $4.00 target price on shares of Heron Therapeutics in a report on Wednesday, December 4th.

Heron Therapeutics Trading Down 2.8 %

The stock has a market capitalization of $264.65 million, a PE ratio of -9.67 and a beta of 1.60. The company’s 50 day simple moving average is $1.63 and its 200 day simple moving average is $1.81.

Heron Therapeutics (NASDAQ:HRTX) last announced its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). The company had revenue of $32.81 million for the quarter, compared to analysts’ expectations of $36.40 million. During the same period in the prior year, the firm earned ($0.17) earnings per share. As a group, analysts predict that Heron Therapeutics, Inc. will post -0.13 EPS for the current year.

Institutional Trading of Heron Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. purchased a new position in Heron Therapeutics in the 2nd quarter valued at about $44,000. The Manufacturers Life Insurance Company raised its stake in shares of Heron Therapeutics by 16.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 45,771 shares of the biotechnology company’s stock valued at $160,000 after purchasing an additional 6,328 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Heron Therapeutics in the 2nd quarter valued at about $41,000. Congress Park Capital LLC raised its stake in shares of Heron Therapeutics by 25.3% in the 3rd quarter. Congress Park Capital LLC now owns 1,978,078 shares of the biotechnology company’s stock valued at $3,936,000 after purchasing an additional 399,577 shares in the last quarter. Finally, Firethorn Wealth Partners LLC acquired a new stake in shares of Heron Therapeutics in the 3rd quarter valued at about $52,000. 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.