Heron Therapeutics (NASDAQ:HRTX) Given New $4.00 Price Target at Needham & Company LLC

Heron Therapeutics (NASDAQ:HRTX) had its price target lowered by research analysts at Needham & Company LLC from $5.00 to $4.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. Needham & Company LLC’s target price suggests a potential upside of 212.50% from the stock’s previous close.

Heron Therapeutics Stock Down 30.4 %

Shares of HRTX stock opened at $1.28 on Wednesday. Heron Therapeutics has a 12-month low of $0.53 and a 12-month high of $3.93. The company has a market capitalization of $194.14 million, a P/E ratio of -4.00 and a beta of 1.81. The firm has a 50-day moving average price of $1.86 and a 200 day moving average price of $2.54.

Institutional Investors Weigh In On Heron Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC acquired a new stake in shares of Heron Therapeutics during the 2nd quarter worth approximately $27,000. Headlands Technologies LLC bought a new position in Heron Therapeutics in the first quarter valued at approximately $30,000. Susquehanna Fundamental Investments LLC bought a new position in Heron Therapeutics in the first quarter valued at approximately $32,000. HB Wealth Management LLC bought a new position in Heron Therapeutics in the second quarter valued at approximately $35,000. Finally, Cutter & CO Brokerage Inc. bought a new position in Heron Therapeutics in the third quarter valued at approximately $39,000. Institutional investors and hedge funds 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.