Heron Therapeutics (NASDAQ:HRTX) Given New $4.00 Price Target at Needham & Company LLC

Heron Therapeutics (NASDAQ:HRTX) had its target price decreased by Needham & Company LLC from $5.00 to $4.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the biotechnology company’s stock.

Heron Therapeutics Price Performance

HRTX traded up $0.03 during trading on Wednesday, hitting $1.24. 304,666 shares of the stock traded hands, compared to its average volume of 2,412,681. Heron Therapeutics has a twelve month low of $0.72 and a twelve month high of $3.93. The business has a 50 day moving average price of $1.85 and a 200 day moving average price of $2.53. The company has a market cap of $187.31 million, a price-to-earnings ratio of -6.72 and a beta of 1.81.

Heron Therapeutics (NASDAQ:HRTX) last issued its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). The company had revenue of $32.81 million during the quarter, compared to the consensus estimate of $36.40 million. During the same period in the previous year, the company earned ($0.17) EPS. On average, equities research analysts predict that Heron Therapeutics will post -0.08 earnings per share for the current year.

Institutional Trading of Heron Therapeutics

A number of hedge funds have recently made changes to their positions in the company. Marshall Wace LLP raised its stake in Heron Therapeutics by 256.2% during the second quarter. Marshall Wace LLP now owns 1,761,051 shares of the biotechnology company’s stock worth $6,164,000 after buying an additional 1,266,697 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Heron Therapeutics by 1,460.9% in the 2nd quarter. AQR Capital Management LLC now owns 607,135 shares of the biotechnology company’s stock valued at $2,125,000 after buying an additional 568,238 shares during the period. Congress Park Capital LLC boosted its holdings in Heron Therapeutics by 25.3% in the third quarter. Congress Park Capital LLC now owns 1,978,078 shares of the biotechnology company’s stock worth $3,936,000 after acquiring an additional 399,577 shares in the last quarter. Squarepoint Ops LLC grew its stake in Heron Therapeutics by 369.0% in the second quarter. Squarepoint Ops LLC now owns 363,700 shares of the biotechnology company’s stock valued at $1,273,000 after acquiring an additional 286,160 shares during the period. Finally, Legato Capital Management LLC acquired a new position in shares of Heron Therapeutics during the second quarter worth approximately $837,000. 80.01% of the stock is 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.