Heron Therapeutics (NASDAQ:HRTX) Earns Buy Rating from Needham & Company LLC

Heron Therapeutics (NASDAQ:HRTX)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a research note issued on Friday,Benzinga reports. They currently have a $4.00 target price on the biotechnology company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 61.94% from the company’s current price.

Separately, StockNews.com downgraded Heron Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th.

Heron Therapeutics Trading Up 20.5 %

Shares of NASDAQ HRTX opened at $2.47 on Friday. The business has a 50-day moving average of $1.69 and a 200-day moving average of $1.71. The firm has a market capitalization of $375.67 million, a price-to-earnings ratio of -13.72 and a beta of 1.60. Heron Therapeutics has a 12 month low of $1.04 and a 12 month high of $3.93.

Heron Therapeutics (NASDAQ:HRTX) last released its earnings results on Thursday, February 27th. The biotechnology company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.05. The firm had revenue of $40.78 million during the quarter, compared to the consensus estimate of $37.37 million. On average, analysts predict that Heron Therapeutics will post -0.13 earnings per share for the current year.

Institutional Investors Weigh In On Heron Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nicolet Advisory Services LLC purchased a new stake in Heron Therapeutics in the fourth quarter worth $25,000. Y Intercept Hong Kong Ltd bought a new position in Heron Therapeutics in the third quarter valued at about $39,000. Argent Advisors Inc. bought a new position in Heron Therapeutics in the fourth quarter valued at about $31,000. Focus Partners Wealth bought a new position in Heron Therapeutics in the fourth quarter valued at about $31,000. Finally, Capstone Investment Advisors LLC bought a new position in Heron Therapeutics in the third quarter valued at about $45,000. 80.01% of the stock is owned by hedge funds and other institutional investors.

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.