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

Heron Therapeutics (NASDAQ:HRTX) had its target price lowered by analysts at Needham & Company LLC from $5.00 to $4.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Needham & Company LLC’s target price indicates a potential upside of 212.50% from the company’s previous close.

Heron Therapeutics Stock Down 30.4 %

Shares of HRTX stock opened at $1.28 on Wednesday. The firm has a market cap of $194.14 million, a PE ratio of -4.00 and a beta of 1.81. Heron Therapeutics has a 12 month low of $0.53 and a 12 month high of $3.93. The company’s fifty day simple moving average is $1.86 and its 200-day simple moving average is $2.54.

Hedge Funds Weigh In On Heron Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC acquired a new position in Heron Therapeutics during the third quarter worth $72,000. King Wealth Management Group increased its holdings in Heron Therapeutics by 52.3% during the third quarter. King Wealth Management Group now owns 23,299 shares of the biotechnology company’s stock worth $46,000 after buying an additional 8,000 shares during the last quarter. GSA Capital Partners LLP increased its holdings in Heron Therapeutics by 18.4% during the third quarter. GSA Capital Partners LLP now owns 512,736 shares of the biotechnology company’s stock worth $1,020,000 after buying an additional 79,680 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Heron Therapeutics by 456.5% during the third quarter. Principal Financial Group Inc. now owns 102,651 shares of the biotechnology company’s stock worth $204,000 after buying an additional 84,205 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. acquired a new position in shares of Heron Therapeutics in the third quarter valued at $39,000. 80.01% of the stock is currently owned by institutional investors and hedge funds.

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.