Heron Therapeutics (NASDAQ:HRTX) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Heron Therapeutics (NASDAQ:HRTX) in a report published on Friday,Benzinga reports. Needham & Company LLC currently has a $4.00 target price on the biotechnology company’s stock.

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

Heron Therapeutics Price Performance

HRTX opened at $2.47 on Friday. The company’s 50 day simple moving average is $1.69 and its two-hundred day simple moving average is $1.72. Heron Therapeutics has a 1-year low of $1.04 and a 1-year high of $3.93. The firm has a market capitalization of $375.67 million, a price-to-earnings ratio of -13.72 and a beta of 1.60.

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

Institutional Investors Weigh In On Heron Therapeutics

Several institutional investors have recently modified their holdings of the company. Point72 Asset Management L.P. purchased a new stake in shares of Heron Therapeutics during the 4th quarter worth $4,706,000. Congress Park Capital LLC lifted its position in Heron Therapeutics by 24.1% in the fourth quarter. Congress Park Capital LLC now owns 2,455,495 shares of the biotechnology company’s stock valued at $3,757,000 after acquiring an additional 477,417 shares during the last quarter. Clearline Capital LP lifted its position in Heron Therapeutics by 48.9% in the third quarter. Clearline Capital LP now owns 2,226,512 shares of the biotechnology company’s stock valued at $4,431,000 after acquiring an additional 731,246 shares during the last quarter. Tang Capital Management LLC lifted its position in Heron Therapeutics by 15.7% in the fourth quarter. Tang Capital Management LLC now owns 2,140,271 shares of the biotechnology company’s stock valued at $3,275,000 after acquiring an additional 290,271 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its position in Heron Therapeutics by 3.2% in the fourth quarter. New York State Common Retirement Fund now owns 1,321,006 shares of the biotechnology company’s stock valued at $2,021,000 after acquiring an additional 41,062 shares during the last quarter. 80.01% of the stock is owned by hedge funds and other 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.