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

Heron Therapeutics (NASDAQ:HRTX)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a research report issued on Friday,Benzinga reports. They presently have a $4.00 price target on the biotechnology company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 95.12% from the stock’s previous close.

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 19.9 %

HRTX opened at $2.05 on Friday. The business has a 50 day moving average of $1.67 and a 200-day moving average of $1.71. The stock has a market capitalization of $311.79 million, a price-to-earnings ratio of -11.39 and a beta of 1.60. Heron Therapeutics has a 1-year low of $1.04 and a 1-year high of $3.93.

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

Institutional Trading of Heron Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. acquired a new position in shares of Heron Therapeutics in the 4th quarter worth approximately $4,706,000. Clearline Capital LP raised its stake in Heron Therapeutics by 48.9% during the third quarter. Clearline Capital LP now owns 2,226,512 shares of the biotechnology company’s stock worth $4,431,000 after acquiring an additional 731,246 shares in the last quarter. Stonepine Capital Management LLC bought a new position in shares of Heron Therapeutics during the fourth quarter valued at $1,071,000. Congress Park Capital LLC lifted its holdings in shares of Heron Therapeutics by 24.1% during the fourth quarter. Congress Park Capital LLC now owns 2,455,495 shares of the biotechnology company’s stock valued at $3,757,000 after acquiring an additional 477,417 shares during the period. Finally, Quinn Opportunity Partners LLC acquired a new stake in shares of Heron Therapeutics in the 4th quarter valued at $581,000. 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.