Brokerages Set Heron Therapeutics, Inc. (NASDAQ:HRTX) PT at $4.50

Heron Therapeutics, Inc. (NASDAQ:HRTX) has earned an average rating of “Hold” from the five brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $4.50.

Several research firms have recently issued reports on HRTX. Weiss Ratings restated a “sell (e+)” rating on shares of Heron Therapeutics in a research report on Thursday, January 22nd. HC Wainwright restated a “buy” rating and issued a $6.00 price target on shares of Heron Therapeutics in a research report on Friday, January 9th. Finally, Zacks Research upgraded Heron Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th.

Heron Therapeutics Stock Down 2.6%

NASDAQ:HRTX opened at $0.79 on Friday. Heron Therapeutics has a 12-month low of $0.74 and a 12-month high of $2.61. The company has a quick ratio of 1.51, a current ratio of 2.48 and a debt-to-equity ratio of 10.59. The firm has a market capitalization of $148.83 million, a P/E ratio of -6.07 and a beta of 1.42. The stock’s fifty day simple moving average is $1.04 and its 200-day simple moving average is $1.19.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rubric Capital Management LP lifted its holdings in Heron Therapeutics by 3.3% during the fourth quarter. Rubric Capital Management LP now owns 30,046,828 shares of the biotechnology company’s stock worth $39,061,000 after acquiring an additional 946,100 shares in the last quarter. Clearline Capital LP lifted its holdings 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 worth $15,906,000 after acquiring an additional 2,522,712 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings 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 worth $14,541,000 after acquiring an additional 946,100 shares in the last quarter. Velan Capital Investment Management LP lifted 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 worth $11,029,000 after acquiring an additional 1,766,546 shares in the last quarter. Finally, Millennium Management LLC lifted 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 worth $9,321,000 after acquiring an additional 6,921,405 shares in the last quarter. 80.01% of the stock is currently owned by institutional investors.

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.