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

Heron Therapeutics (NASDAQ:HRTX)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a note issued to investors on Friday,Benzinga reports. They currently have a $4.00 price objective on the biotechnology company’s stock. Needham & Company LLC’s target price indicates a potential upside of 61.94% from the stock’s current price.

Separately, StockNews.com cut Heron Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th.

Heron Therapeutics Price Performance

NASDAQ HRTX opened at $2.47 on Friday. The stock has a market capitalization of $375.67 million, a PE ratio of -13.72 and a beta of 1.60. The business has a 50 day simple moving average of $1.69 and a two-hundred day simple moving average of $1.71. Heron Therapeutics has a 1-year low of $1.04 and a 1-year high of $3.93.

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

Institutional Investors Weigh In On Heron Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of HRTX. Nicolet Advisory Services LLC bought a new stake in Heron Therapeutics during the 4th quarter valued at $25,000. Argent Advisors Inc. purchased a new stake in Heron Therapeutics during the 4th quarter valued at about $31,000. Focus Partners Wealth purchased a new stake in Heron Therapeutics during the 4th quarter valued at about $31,000. Y Intercept Hong Kong Ltd purchased a new stake in Heron Therapeutics during the 3rd quarter valued at about $39,000. Finally, Capstone Investment Advisors LLC acquired a new position in Heron Therapeutics in the 3rd quarter worth about $45,000. 80.01% of the stock is owned by institutional investors.

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.