Heron Therapeutics, Inc. (NASDAQ:HRTX) Given Average Rating of "Hold" by Brokerages

Heron Therapeutics, Inc. (NASDAQ:HRTX) has received a consensus rating of "Hold" from five brokerages. One analyst rated it as a sell, one as hold, and three as buy, with an average 12-month price target of $4.50. Recent insider transactions include major shareholder Rubric Capital Management acquiring 2.39 million shares and Director Adam Morgan purchasing 1.77 million shares, both at $1.50 per share. The stock is currently trading at $1.14, with a market cap of $208.98 million and a P/E ratio of -57.00.

Shares of Heron Therapeutics, Inc. (NASDAQ:HRTX - Get Free Report) have been assigned a consensus recommendation of "Hold" from the five ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $4.50.

HRTX has been the subject of several research reports. Wall Street Zen lowered shares of Heron Therapeutics from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Needham & Company LLC reduced their price objective on shares of Heron Therapeutics from $4.00 to $3.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Weiss Ratings restated a "sell (e+)" rating on shares of Heron Therapeutics in a research note on Wednesday, October 8th. Jefferies Financial Group reiterated a "buy" rating on shares of Heron Therapeutics in a research note on Tuesday. Finally, Zacks Research upgraded shares of Heron Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Tuesday, October 7th.

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Insider Buying and Selling at Heron Therapeutics

In other news, major shareholder Rubric Capital Management Lp acquired 2,387,225 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average cost of $1.50 per share, for a total transaction of $3,580,837.50. Following the completion of the acquisition, the insider directly owned 29,100,728 shares of the company's stock, valued at $43,651,092. The trade was a 8.94% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Adam Morgan bought 1,766,546 shares of Heron Therapeutics stock in a transaction on Friday, August 8th. The stock was purchased at an average price of $1.50 per share, with a total value of $2,649,819.00. Following the completion of the acquisition, the director directly owned 8,753,290 shares of the company's stock, valued at $13,129,935. This represents a 25.28% increase in their position. The disclosure for this purchase is available in the SEC filing. 5.86% of the stock is owned by insiders.

Institutional Investors Weigh In On Heron Therapeutics

A number of large investors have recently bought and sold shares of HRTX. Vanguard Group Inc. raised its stake in Heron Therapeutics by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,225,585 shares of the biotechnology company's stock valued at $18,096,000 after purchasing an additional 67,976 shares during the last quarter. Tejara Capital Ltd grew its holdings in shares of Heron Therapeutics by 1.6% during the 3rd quarter. Tejara Capital Ltd now owns 4,589,715 shares of the biotechnology company's stock worth $5,783,000 after purchasing an additional 72,300 shares during the period. Geode Capital Management LLC boosted its holdings in Heron Therapeutics by 14.6% during the 2nd quarter. Geode Capital Management LLC now owns 3,566,813 shares of the biotechnology company's stock valued at $7,385,000 after acquiring an additional 453,085 shares during the period. AIGH Capital Management LLC boosted its holdings in Heron Therapeutics by 8.3% during the 2nd quarter. AIGH Capital Management LLC now owns 3,009,257 shares of the biotechnology company's stock valued at $6,229,000 after acquiring an additional 231,057 shares during the period. Finally, Marshall Wace LLP boosted its holdings in Heron Therapeutics by 130.7% during the 2nd quarter. Marshall Wace LLP now owns 2,894,072 shares of the biotechnology company's stock valued at $5,991,000 after acquiring an additional 1,639,376 shares during the period. Hedge funds and other institutional investors own 80.01% of the company's stock.

Heron Therapeutics Price Performance

NASDAQ HRTX traded down $0.04 during mid-day trading on Tuesday, reaching $1.14. 5,679,439 shares of the stock were exchanged, compared to its average volume of 1,692,648. Heron Therapeutics has a one year low of $1.04 and a one year high of $2.68. The stock has a 50 day simple moving average of $1.27 and a 200-day simple moving average of $1.70. The stock has a market cap of $208.98 million, a P/E ratio of -57.00 and a beta of 1.25.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last released its earnings results on Friday, August 8th. The biotechnology company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). The business had revenue of $37.20 million for the quarter, compared to analysts' expectations of $38.08 million. Heron Therapeutics has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Heron Therapeutics will post -0.13 EPS for the current fiscal year.

About Heron Therapeutics

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Heron Therapeutics, Inc, a commercial-stage biotechnology company, focuses on enhancing the lives of patients by developing and commercializing therapeutic that enhances medical care. The company's product candidates utilize its proprietary Biochronomer, a drug delivery technology, which delivers therapeutic levels of a range of short-acting pharmacological agents over a period from days to weeks with a single administration.

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