Heron Therapeutics (NASDAQ:HRTX) Coverage Initiated at Capital One Financial

Capital One Financial started coverage on shares of Heron Therapeutics (NASDAQ:HRTX) in a research note published on Tuesday morning, Marketbeat.com reports. The brokerage issued an overweight rating and a $6.00 target price on the biotechnology company’s stock. Capital One Financial also issued estimates for Heron Therapeutics’ Q1 2024 earnings at ($0.09) EPS, Q2 2024 earnings at ($0.07) EPS, Q3 2024 earnings at ($0.06) EPS, Q4 2024 earnings at ($0.05) EPS, FY2024 earnings at ($0.28) EPS, FY2025 earnings at ($0.06) EPS, FY2026 earnings at $0.16 EPS, FY2027 earnings at $0.33 EPS and FY2028 earnings at $0.47 EPS.

A number of other research firms have also recently issued reports on HRTX. StockNews.com raised Heron Therapeutics from a sell rating to a hold rating in a research note on Tuesday, January 16th. Needham & Company LLC reissued a buy rating and set a $5.00 target price on shares of Heron Therapeutics in a research note on Thursday, April 11th.

Heron Therapeutics Trading Down 3.9 %

Heron Therapeutics stock opened at $2.45 on Tuesday. Heron Therapeutics has a 1 year low of $0.50 and a 1 year high of $3.22. The company has a market cap of $368.31 million, a PE ratio of -2.85 and a beta of 1.68. The company’s 50-day moving average is $2.74 and its two-hundred day moving average is $1.97.

Heron Therapeutics (NASDAQ:HRTX) last released its earnings results on Tuesday, March 12th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.08. The business had revenue of $34.23 million for the quarter, compared to analyst estimates of $30.98 million. Research analysts forecast that Heron Therapeutics will post -0.24 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Rubric Capital Management LP lifted its stake in shares of Heron Therapeutics by 127.3% in the third quarter. Rubric Capital Management LP now owns 26,713,503 shares of the biotechnology company’s stock worth $27,515,000 after acquiring an additional 14,963,503 shares during the period. JW Asset Management LLC lifted its stake in shares of Heron Therapeutics by 9.1% in the third quarter. JW Asset Management LLC now owns 2,407,418 shares of the biotechnology company’s stock worth $2,480,000 after acquiring an additional 200,000 shares during the period. Orchard Capital Management LLC lifted its stake in shares of Heron Therapeutics by 4.7% in the fourth quarter. Orchard Capital Management LLC now owns 2,243,426 shares of the biotechnology company’s stock worth $3,814,000 after acquiring an additional 100,603 shares during the period. Monaco Asset Management SAM lifted its stake in shares of Heron Therapeutics by 219.5% in the fourth quarter. Monaco Asset Management SAM now owns 2,226,475 shares of the biotechnology company’s stock worth $3,785,000 after acquiring an additional 1,529,567 shares during the period. Finally, Tejara Capital Ltd lifted its stake in shares of Heron Therapeutics by 28.6% in the third quarter. Tejara Capital Ltd now owns 2,109,681 shares of the biotechnology company’s stock worth $2,173,000 after acquiring an additional 469,548 shares during the period. Institutional investors own 80.01% of the company’s stock.

About Heron Therapeutics

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.