Heron Therapeutics (NASDAQ:HRTX) Issues Earnings Results

Heron Therapeutics (NASDAQ:HRTX) issued its quarterly earnings data on Monday. The biotechnology company reported ($0.03) earnings per share (EPS) for the quarter, FiscalAI reports. Heron Therapeutics had a negative net margin of 20.53% and a negative return on equity of 7,747.30%. The company had revenue of $37.67 million for the quarter, compared to analysts’ expectations of $42.19 million.

Heron Therapeutics Stock Performance

Shares of NASDAQ HRTX opened at $0.49 on Monday. Heron Therapeutics has a 1 year low of $0.38 and a 1 year high of $1.57. The company has a debt-to-equity ratio of 17.51, a current ratio of 2.53 and a quick ratio of 1.51. The firm has a 50-day moving average of $0.45 and a 200 day moving average of $0.84. The stock has a market cap of $92.90 million, a P/E ratio of -2.73 and a beta of 1.65.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on HRTX shares. Needham & Company LLC lowered shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. HC Wainwright cut their price objective on Heron Therapeutics to $2.00 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Heron Therapeutics in a report on Friday, July 17th. Wall Street Zen upgraded Heron Therapeutics to a “sell” rating in a research note on Saturday. Finally, Zacks Research upgraded Heron Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, August 3rd. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $2.00.

Hedge Funds Weigh In On Heron Therapeutics

Several large investors have recently made changes to their positions in HRTX. Advisory Services Network LLC grew its stake in shares of Heron Therapeutics by 2,383.4% in the 4th quarter. Advisory Services Network LLC now owns 18,874 shares of the biotechnology company’s stock worth $25,000 after buying an additional 18,114 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in Heron Therapeutics during the second quarter valued at $26,000. Voleon Capital Management LP bought a new stake in Heron Therapeutics in the third quarter worth $34,000. Mercer Global Advisors Inc. ADV bought a new stake in Heron Therapeutics in the third quarter worth $34,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Heron Therapeutics in the second quarter worth $43,000. 80.01% of the stock is currently owned by hedge funds and other 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.