Heron Therapeutics’ (HRTX) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Heron Therapeutics (NASDAQ:HRTX) in a report published on Wednesday morning, Benzinga reports. Needham & Company LLC currently has a $5.00 target price on the biotechnology company’s stock.

Separately, Rodman & Renshaw initiated coverage on Heron Therapeutics in a research note on Thursday, June 13th. They set a buy rating and a $7.00 target price on the stock.

Heron Therapeutics Trading Down 2.9 %

Shares of HRTX opened at $1.99 on Wednesday. The company has a market cap of $299.80 million, a PE ratio of -3.26 and a beta of 1.80. The stock has a 50-day moving average price of $2.17 and a 200-day moving average price of $2.76. Heron Therapeutics has a 12-month low of $0.50 and a 12-month high of $3.93.

Heron Therapeutics (NASDAQ:HRTX) last released its earnings results on Tuesday, August 6th. The biotechnology company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The company had revenue of $36.02 million during the quarter, compared to the consensus estimate of $35.35 million. During the same period last year, the firm earned ($0.35) EPS. As a group, analysts predict that Heron Therapeutics will post -0.1 earnings per share for the current year.

Institutional Investors Weigh In On Heron Therapeutics

Several hedge funds have recently added to or reduced their stakes in HRTX. Marshall Wace LLP lifted its holdings in shares of Heron Therapeutics by 256.2% during the second quarter. Marshall Wace LLP now owns 1,761,051 shares of the biotechnology company’s stock valued at $6,164,000 after purchasing an additional 1,266,697 shares in the last quarter. AQR Capital Management LLC raised its stake in Heron Therapeutics by 1,460.9% during the 2nd quarter. AQR Capital Management LLC now owns 607,135 shares of the biotechnology company’s stock worth $2,125,000 after acquiring an additional 568,238 shares during the period. Squarepoint Ops LLC lifted its holdings in Heron Therapeutics by 369.0% during the second quarter. Squarepoint Ops LLC now owns 363,700 shares of the biotechnology company’s stock valued at $1,273,000 after purchasing an additional 286,160 shares in the last quarter. Legato Capital Management LLC bought a new position in shares of Heron Therapeutics in the second quarter worth approximately $837,000. Finally, Caxton Associates LP bought a new position in shares of Heron Therapeutics in the second quarter worth approximately $708,000. 80.01% of the stock is owned by institutional investors.

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.