Heron Therapeutics (NASDAQ:HRTX) Shares Cross Above 50 Day Moving Average on Disappointing Earnings

Heron Therapeutics, Inc. (NASDAQ:HRTX) passed above its 50-day moving average during trading on Monday following a better than expected earnings announcement. The stock has a 50-day moving average of $0.33 and traded as high as $0.42. Heron Therapeutics shares last traded at $0.3706, with a volume of 138,270,889 shares trading hands.

The biotechnology company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Heron Therapeutics had a negative net margin of 22.52% and a negative return on equity of 293.02%. The business had revenue of $35.25 million during the quarter, compared to analysts’ expectations of $37.50 million.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on HRTX shares. Wall Street Zen upgraded Heron Therapeutics to a “sell” rating in a report on Saturday, August 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Heron Therapeutics in a report on Thursday, October 15th. HC Wainwright cut Heron Therapeutics from a “buy” rating to a “neutral” rating in a report on Tuesday, August 11th. Finally, Zacks Research upgraded Heron Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, August 3rd. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Heron Therapeutics has a consensus rating of “Reduce” and an average price target of $2.00.

Hedge Funds Weigh In On Heron Therapeutics

A number of institutional investors have recently modified their holdings of HRTX. HORAN Wealth LLC purchased a new position in shares of Heron Therapeutics during the 1st quarter worth $33,000. Deutsche Bank AG acquired a new stake in shares of Heron Therapeutics during the second quarter worth $41,000. Ieq Capital LLC purchased a new stake in shares of Heron Therapeutics in the second quarter valued at $41,000. Bank of America Corp DE purchased a new stake in shares of Heron Therapeutics in the second quarter valued at $46,000. Finally, Persistent Asset Partners Ltd purchased a new stake in shares of Heron Therapeutics in the second quarter valued at $50,000. Institutional investors and hedge funds own 80.01% of the company’s stock.

Heron Therapeutics Price Performance

The stock has a market capitalization of $70.36 million, a price-to-earnings ratio of -1.95 and a beta of 1.65. The company has a 50 day moving average of $0.33 and a 200 day moving average of $0.67. The company has a quick ratio of 1.51, a current ratio of 2.49 and a debt-to-equity ratio of 24.35.

Heron Therapeutics Company Profile

Heron Therapeutics, Inc is a commercial-stage biotechnology company focused on developing and marketing medicines for acute care and oncology supportive care. Its products are designed to address unmet needs such as postoperative pain and chemotherapy-induced nausea and vomiting.

The company’s portfolio includes ZYNRELEF, an extended-release solution combining bupivacaine and meloxicam for the management of postoperative pain in adults. Heron also markets CINVANTI, an injectable formulation of aprepitant used as part of a combination regimen to help prevent acute and delayed nausea and vomiting associated with highly or moderately emetogenic cancer chemotherapy.

Heron’s commercial activities are primarily focused on the United States, where it works with healthcare providers and institutions to support the use of its products in surgical and oncology settings.