Heron Therapeutics (NASDAQ:HRTX) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Heron Therapeutics (NASDAQ:HRTX) from a hold rating to a buy rating in a research report sent to investors on Friday.

Separately, Needham & Company LLC restated a “buy” rating and issued a $4.00 target price on shares of Heron Therapeutics in a research note on Friday.

Heron Therapeutics Price Performance

Heron Therapeutics stock opened at $2.47 on Friday. The stock has a fifty day moving average price of $1.69 and a two-hundred day moving average price of $1.72. Heron Therapeutics has a 52-week low of $1.04 and a 52-week high of $3.93. The firm has a market capitalization of $375.67 million, a P/E ratio of -13.72 and a beta of 1.60.

Heron Therapeutics (NASDAQ:HRTX) last released its quarterly earnings data 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 company had revenue of $40.78 million for the quarter, compared to analyst estimates of $37.37 million. On average, equities research analysts predict that Heron Therapeutics will post -0.13 EPS for the current fiscal year.

Institutional Trading of Heron Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Anfield Capital Management LLC increased 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 worth $182,000 after purchasing an additional 6,264 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Heron Therapeutics by 21.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 45,273 shares of the biotechnology company’s stock worth $90,000 after purchasing an additional 7,927 shares during the period. King Wealth Management Group increased its position 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 worth $46,000 after purchasing an additional 8,000 shares during the period. Price T Rowe Associates Inc. MD increased its position 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. increased its position in Heron Therapeutics by 0.9% in 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 during the period. 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.