Heron Therapeutics (NASDAQ:HRTX) Raised to Buy at StockNews.com

Heron Therapeutics (NASDAQ:HRTX) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Separately, Needham & Company LLC cut their price target on shares of Heron Therapeutics from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Wednesday.

Heron Therapeutics Price Performance

Shares of HRTX stock opened at $1.24 on Wednesday. The business has a 50-day moving average of $1.84 and a 200 day moving average of $2.52. Heron Therapeutics has a 1-year low of $0.72 and a 1-year high of $3.93. The stock has a market capitalization of $188.07 million, a PE ratio of -6.89 and a beta of 1.81.

Heron Therapeutics (NASDAQ:HRTX) last released its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). The company had revenue of $32.81 million for the quarter, compared to analysts’ expectations of $36.40 million. During the same period last year, the company posted ($0.17) EPS. Analysts anticipate that Heron Therapeutics will post -0.08 EPS for the current year.

Hedge Funds Weigh In On Heron Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. nVerses Capital LLC purchased a new position in Heron Therapeutics during the 2nd quarter valued at $27,000. Headlands Technologies LLC purchased a new position in shares of Heron Therapeutics during the first quarter valued at about $30,000. Susquehanna Fundamental Investments LLC bought a new position in Heron Therapeutics in the first quarter worth about $32,000. HB Wealth Management LLC purchased a new stake in Heron Therapeutics in the second quarter worth about $35,000. Finally, Cutter & CO Brokerage Inc. bought a new stake in Heron Therapeutics during the 3rd quarter valued at approximately $39,000. Institutional investors own 80.01% of the company’s stock.

Heron Therapeutics Company Profile

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.