Heron Therapeutics (NASDAQ:HRTX) Receives Buy Rating from Needham & Company LLC

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

Separately, StockNews.com lowered 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. Heron Therapeutics has a 1-year low of $1.04 and a 1-year high of $3.93. The stock has a market capitalization of $311.79 million, a PE ratio of -11.39 and a beta of 1.60. The firm has a 50-day moving average price of $1.67 and a two-hundred day moving average price of $1.71.

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

Hedge Funds Weigh In On Heron Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Anfield Capital Management LLC increased its stake in shares of Heron Therapeutics by 5.6% in the 4th quarter. Anfield Capital Management LLC now owns 118,976 shares of the biotechnology company’s stock valued at $182,000 after acquiring an additional 6,264 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Heron Therapeutics by 21.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 45,273 shares of the biotechnology company’s stock valued at $90,000 after purchasing an additional 7,927 shares during the period. King Wealth Management Group increased its stake in Heron Therapeutics by 52.3% in the third quarter. King Wealth Management Group now owns 23,299 shares of the biotechnology company’s stock valued at $46,000 after purchasing an additional 8,000 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Heron Therapeutics by 23.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 46,179 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 8,684 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Heron Therapeutics by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,105,803 shares of the biotechnology company’s stock worth $1,692,000 after purchasing an additional 9,418 shares in the last quarter. Institutional investors own 80.01% of the company’s stock.

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.