Heron Therapeutics (NASDAQ:HRTX) Shares Cross Below 200 Day Moving Average – What’s Next?

Heron Therapeutics, Inc. (NASDAQ:HRTX)’s stock price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $0.98 and traded as low as $0.4112. Heron Therapeutics shares last traded at $0.4257, with a volume of 2,632,062 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have commented on HRTX. Needham & Company LLC downgraded Heron Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. HC Wainwright cut their price target on Heron Therapeutics to $2.00 and set a “buy” rating for the company in a research note on Wednesday, June 3rd. Zacks Research lowered Heron Therapeutics from a “hold” rating to a “strong sell” rating in a report on Monday, April 27th. Wall Street Zen lowered Heron Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Heron Therapeutics in a research note on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $2.50.

Heron Therapeutics Stock Down 3.8%

The firm has a market cap of $81.11 million, a P/E ratio of -2.38 and a beta of 1.65. The business’s fifty day moving average price is $0.68 and its two-hundred day moving average price is $0.97. The company has a current ratio of 2.53, a quick ratio of 1.51 and a debt-to-equity ratio of 17.51.

Heron Therapeutics (NASDAQ:HRTX) last issued its quarterly earnings data on Monday, May 11th. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). The business had revenue of $34.71 million during the quarter, compared to the consensus estimate of $36.72 million. Heron Therapeutics had a negative return on equity of 7,747.30% and a negative net margin of 20.53%. As a group, equities research analysts anticipate that Heron Therapeutics, Inc. will post -0.09 EPS for the current year.

Institutional Trading of Heron Therapeutics

Large investors have recently made changes to their positions in the stock. Rubric Capital Management LP raised its stake in shares of Heron Therapeutics by 3.3% in the 4th quarter. Rubric Capital Management LP now owns 30,046,828 shares of the biotechnology company’s stock valued at $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% in the 4th quarter. Clearline Capital LP now owns 12,235,239 shares of the biotechnology company’s stock worth $15,906,000 after purchasing an additional 2,522,712 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position 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 purchasing an additional 946,100 shares during the period. Orbimed Advisors LLC bought a new stake in Heron Therapeutics during the first quarter worth approximately $7,855,000. Finally, Velan Capital Investment Management LP grew 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 valued at $11,029,000 after purchasing an additional 1,766,546 shares during the last quarter. Institutional investors own 80.01% of the company’s stock.

Heron Therapeutics Company Profile

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.