Needham & Company LLC Reaffirms Buy Rating for Heron Therapeutics (NASDAQ:HRTX)

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

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 Up 4.9 %

HRTX opened at $1.91 on Friday. The stock has a market cap of $290.95 million, a PE ratio of -10.61 and a beta of 1.39. Heron Therapeutics has a twelve month low of $1.04 and a twelve month high of $3.93. The company has a fifty day moving average of $2.06 and a 200-day moving average of $1.79.

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

Institutional Investors Weigh In On Heron Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of HRTX. Point72 Asset Management L.P. bought a new position in shares of Heron Therapeutics in the 4th quarter worth $4,706,000. Congress Park Capital LLC raised its holdings in Heron Therapeutics by 24.1% during the fourth quarter. Congress Park Capital LLC now owns 2,455,495 shares of the biotechnology company’s stock worth $3,757,000 after buying an additional 477,417 shares during the last quarter. Tang Capital Management LLC lifted its stake in shares of 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 buying an additional 290,271 shares in the last quarter. New York State Common Retirement Fund grew its holdings in shares of Heron Therapeutics by 3.2% during 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 buying an additional 41,062 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Heron Therapeutics by 0.9% during 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 acquiring an additional 9,418 shares in the last quarter. Institutional investors own 80.01% of the company’s stock.

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.