Heron Therapeutics (NASDAQ:HRTX) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Heron Therapeutics (NASDAQ:HRTX) from a hold rating to a buy rating in a research note released on Wednesday.

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

Heron Therapeutics Trading Down 4.0 %

Shares of Heron Therapeutics stock opened at $1.19 on Wednesday. The company’s 50-day moving average price is $1.82 and its two-hundred day moving average price is $2.51. The stock has a market cap of $181.00 million, a PE ratio of -6.61 and a beta of 1.81. Heron Therapeutics has a 52 week low of $0.81 and a 52 week high of $3.93.

Heron Therapeutics (NASDAQ:HRTX) last issued its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). The company had revenue of $32.81 million during the quarter, compared to analysts’ expectations of $36.40 million. During the same period in the prior year, the business posted ($0.17) EPS. On average, equities analysts predict that Heron Therapeutics will post -0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Heron Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC grew its stake in Heron Therapeutics by 29.8% during the 3rd quarter. Barclays PLC now owns 218,455 shares of the biotechnology company’s stock valued at $434,000 after acquiring an additional 50,109 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Heron Therapeutics during the 3rd quarter valued at about $39,000. XTX Topco Ltd grew its stake in Heron Therapeutics by 449.0% during the 3rd quarter. XTX Topco Ltd now owns 297,568 shares of the biotechnology company’s stock valued at $592,000 after acquiring an additional 243,363 shares in the last quarter. Zacks Investment Management grew its stake in Heron Therapeutics by 2.4% during the 3rd quarter. Zacks Investment Management now owns 475,575 shares of the biotechnology company’s stock valued at $946,000 after acquiring an additional 11,320 shares in the last quarter. Finally, Clearline Capital LP grew its stake in shares of Heron Therapeutics by 48.9% in the 3rd quarter. Clearline Capital LP now owns 2,226,512 shares of the biotechnology company’s stock valued at $4,431,000 after buying an additional 731,246 shares in the last quarter. Hedge funds and other 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.