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

Heron Therapeutics (NASDAQ:HRTX)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a report issued on Friday,Benzinga reports. They currently have a $4.00 price target on the biotechnology company’s stock. Needham & Company LLC’s target price indicates a potential upside of 119.78% from the stock’s current price.

Separately, StockNews.com lowered shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th.

Heron Therapeutics Stock Down 3.2 %

Shares of HRTX stock opened at $1.82 on Friday. The firm has a market capitalization of $277.24 million, a price-to-earnings ratio of -10.11 and a beta of 1.39. Heron Therapeutics has a 12-month low of $1.04 and a 12-month high of $3.93. The firm has a fifty day moving average of $2.06 and a 200-day moving average of $1.78.

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 the consensus estimate of ($0.03) by $0.05. The business had revenue of $40.78 million during the quarter, compared to the consensus estimate of $37.37 million. Research analysts expect that Heron Therapeutics will post -0.13 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Anfield Capital Management LLC grew its position in Heron Therapeutics by 5.6% in the fourth quarter. Anfield Capital Management LLC now owns 118,976 shares of the biotechnology company’s stock valued at $182,000 after purchasing an additional 6,264 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Heron Therapeutics by 23.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 46,179 shares of the biotechnology company’s stock worth $71,000 after buying an additional 8,684 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Heron Therapeutics by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,105,803 shares of the biotechnology company’s stock worth $1,692,000 after buying an additional 9,418 shares during the last quarter. ProShare Advisors LLC grew its holdings in shares of Heron Therapeutics by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 33,063 shares of the biotechnology company’s stock valued at $51,000 after acquiring an additional 10,880 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Heron Therapeutics by 10.6% in the fourth quarter. Principal Financial Group Inc. now owns 113,560 shares of the biotechnology company’s stock valued at $174,000 after acquiring an additional 10,909 shares during the last quarter. 80.01% of the stock is 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.