Needham & Company LLC Reiterates “Buy” Rating for Heron Therapeutics (NASDAQ:HRTX)

Heron Therapeutics (NASDAQ:HRTX)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a research note issued on Thursday, Benzinga reports. They presently have a $5.00 price objective on the biotechnology company’s stock. Needham & Company LLC’s price target suggests a potential upside of 71.82% from the company’s current price.

Separately, StockNews.com upgraded shares of Heron Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, January 16th.

Heron Therapeutics Stock Down 1.0 %

Shares of NASDAQ HRTX opened at $2.91 on Thursday. The firm’s 50-day simple moving average is $2.70 and its 200 day simple moving average is $1.85. The company has a market cap of $437.46 million, a price-to-earnings ratio of -3.38 and a beta of 1.68. Heron Therapeutics has a 12-month low of $0.50 and a 12-month high of $3.22.

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. On average, equities analysts expect that Heron Therapeutics will post -0.22 earnings per share for the current year.

Institutional Trading of Heron Therapeutics

Hedge funds have recently modified their holdings of the company. Adage Capital Partners GP L.L.C. raised its position in shares of Heron Therapeutics by 100.0% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 2,000,000 shares of the biotechnology company’s stock valued at $2,060,000 after acquiring an additional 1,000,000 shares during the period. JW Asset Management LLC increased its stake in Heron Therapeutics by 9.1% during the 3rd quarter. JW Asset Management LLC now owns 2,407,418 shares of the biotechnology company’s stock worth $2,480,000 after purchasing an additional 200,000 shares in the last quarter. Congress Park Capital LLC increased its stake in Heron Therapeutics by 205.3% during the 4th quarter. Congress Park Capital LLC now owns 1,798,650 shares of the biotechnology company’s stock worth $3,058,000 after purchasing an additional 1,209,500 shares in the last quarter. SG Americas Securities LLC bought a new stake in Heron Therapeutics during the 3rd quarter worth approximately $31,000. Finally, Tejara Capital Ltd increased its stake in Heron Therapeutics by 28.6% during the 3rd quarter. Tejara Capital Ltd now owns 2,109,681 shares of the biotechnology company’s stock worth $2,173,000 after purchasing an additional 469,548 shares in the last quarter. 80.01% of the stock is currently owned by institutional investors and hedge funds.

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.