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

Needham & Company LLC reiterated their buy rating on shares of Heron Therapeutics (NASDAQ:HRTX) in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a $4.00 price objective 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 report on Wednesday, January 29th.

Heron Therapeutics Stock Up 20.5 %

Shares of Heron Therapeutics stock opened at $2.47 on Friday. Heron Therapeutics has a 52-week low of $1.04 and a 52-week high of $3.93. The company’s 50-day simple moving average is $1.69 and its 200-day simple moving average is $1.72. The firm has a market cap of $375.67 million, a price-to-earnings ratio of -13.72 and a beta of 1.60.

Heron Therapeutics (NASDAQ:HRTX) last issued 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. Equities research analysts anticipate that Heron Therapeutics will post -0.13 EPS for the current year.

Institutional Trading of Heron Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of HRTX. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of 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 valued at $90,000 after purchasing an additional 7,927 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Heron Therapeutics by 456.5% during the third quarter. Principal Financial Group Inc. now owns 102,651 shares of the biotechnology company’s stock valued at $204,000 after buying an additional 84,205 shares during the period. GSA Capital Partners LLP lifted its stake in shares of Heron Therapeutics by 18.4% during the third quarter. GSA Capital Partners LLP now owns 512,736 shares of the biotechnology company’s stock valued at $1,020,000 after buying an additional 79,680 shares during the period. King Wealth Management Group lifted its stake in shares of Heron Therapeutics by 52.3% during the third quarter. King Wealth Management Group now owns 23,299 shares of the biotechnology company’s stock valued at $46,000 after buying an additional 8,000 shares during the period. Finally, Intech Investment Management LLC purchased a new position in shares of Heron Therapeutics during the third quarter valued at approximately $72,000. Hedge funds and other institutional investors own 80.01% of the company’s stock.

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.