Heron Therapeutics (NASDAQ:HRTX) Coverage Initiated at Rodman & Renshaw

Analysts at Rodman & Renshaw started coverage on shares of Heron Therapeutics (NASDAQ:HRTXGet Free Report) in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The brokerage set a “buy” rating and a $7.00 price target on the biotechnology company’s stock. Rodman & Renshaw’s target price would indicate a potential upside of 94.44% from the company’s previous close.

Several other analysts also recently weighed in on HRTX. Capital One Financial initiated coverage on Heron Therapeutics in a research note on Tuesday, April 23rd. They set an “overweight” rating and a $6.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and set a $5.00 price target on shares of Heron Therapeutics in a research report on Thursday, May 16th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Heron Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $6.00.

Check Out Our Latest Stock Analysis on HRTX

Heron Therapeutics Price Performance

Shares of Heron Therapeutics stock opened at $3.60 on Thursday. The business’s fifty day moving average price is $3.07 and its two-hundred day moving average price is $2.54. The company has a market capitalization of $542.34 million, a P/E ratio of -5.95 and a beta of 1.81. Heron Therapeutics has a 1-year low of $0.50 and a 1-year high of $3.93.

Heron Therapeutics (NASDAQ:HRTXGet Free Report) last announced its earnings results on Tuesday, May 7th. The biotechnology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.06. The business had revenue of $34.67 million for the quarter, compared to the consensus estimate of $32.50 million. On average, research analysts expect that Heron Therapeutics will post -0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Heron Therapeutics

Hedge funds have recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. grew its holdings in shares of Heron Therapeutics by 100.0% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 2,000,000 shares of the biotechnology company’s stock worth $2,060,000 after acquiring an additional 1,000,000 shares during the last quarter. Congress Park Capital LLC grew its holdings in shares of Heron Therapeutics by 205.3% in the 4th quarter. Congress Park Capital LLC now owns 1,798,650 shares of the biotechnology company’s stock worth $3,058,000 after acquiring an additional 1,209,500 shares during the last quarter. Monaco Asset Management SAM grew its holdings in shares of Heron Therapeutics by 219.5% in the 4th quarter. Monaco Asset Management SAM now owns 2,226,475 shares of the biotechnology company’s stock worth $3,785,000 after acquiring an additional 1,529,567 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Heron Therapeutics by 49.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 514,377 shares of the biotechnology company’s stock worth $874,000 after acquiring an additional 171,250 shares during the last quarter. Finally, Tejara Capital Ltd grew its holdings in shares of Heron Therapeutics by 28.6% in the 3rd quarter. Tejara Capital Ltd now owns 2,109,681 shares of the biotechnology company’s stock worth $2,173,000 after acquiring an additional 469,548 shares during the last quarter. 80.01% of the stock is currently owned by institutional investors and hedge funds.

About Heron Therapeutics

(Get Free Report)

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.

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