Zacks Research Upgrades Heron Therapeutics (NASDAQ:HRTX) to “Hold”

Heron Therapeutics (NASDAQ:HRTX) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. Needham & Company LLC cut Heron Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. HC Wainwright decreased their price target on shares of Heron Therapeutics to $2.00 and set a “buy” rating for the company in a report on Wednesday, June 3rd. Wall Street Zen cut shares of Heron Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Heron Therapeutics in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $2.50.

Heron Therapeutics Stock Performance

Shares of HRTX stock opened at $0.51 on Monday. Heron Therapeutics has a 1-year low of $0.38 and a 1-year high of $1.88. The company has a current ratio of 2.53, a quick ratio of 1.51 and a debt-to-equity ratio of 17.51. The company has a market capitalization of $96.82 million, a price-to-earnings ratio of -2.84 and a beta of 1.65. The stock’s fifty day simple moving average is $0.48 and its 200-day simple moving average is $0.86.

Heron Therapeutics (NASDAQ:HRTX) last posted its quarterly 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 business had revenue of $34.71 million for the quarter, compared to analyst estimates of $36.72 million. Heron Therapeutics had a negative net margin of 20.53% and a negative return on equity of 7,747.30%. On average, sell-side analysts predict that Heron Therapeutics will post -0.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Heron Therapeutics

Large investors have recently made changes to their positions in the company. SG Americas Securities LLC increased its holdings in Heron Therapeutics by 39.1% in the fourth quarter. SG Americas Securities LLC now owns 24,377 shares of the biotechnology company’s stock worth $32,000 after buying an additional 6,858 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Heron Therapeutics by 5.1% in the second quarter. The Manufacturers Life Insurance Company now owns 241,048 shares of the biotechnology company’s stock valued at $499,000 after acquiring an additional 11,716 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in Heron Therapeutics in the second quarter worth approximately $26,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Heron Therapeutics by 19.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,756 shares of the biotechnology company’s stock worth $173,000 after acquiring an additional 13,544 shares in the last quarter. Finally, Advisory Services Network LLC increased its stake in shares of Heron Therapeutics by 2,383.4% during the 4th quarter. Advisory Services Network LLC now owns 18,874 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 18,114 shares during the last quarter. Institutional investors own 80.01% of the company’s stock.

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.