Heron Therapeutics’ (HRTX) Buy Rating Reiterated at Needham & Company LLC

Heron Therapeutics (NASDAQ:HRTX)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a report released on Wednesday, Benzinga reports. They presently have a $5.00 price objective on the biotechnology company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 163.85% from the company’s current price.

Separately, Rodman & Renshaw started coverage on Heron Therapeutics in a research report on Thursday, June 13th. They set a “buy” rating and a $7.00 price objective for the company.

Heron Therapeutics Stock Down 3.3 %

NASDAQ HRTX traded down $0.07 during trading hours on Wednesday, hitting $1.90. 2,392,244 shares of the company were exchanged, compared to its average volume of 2,547,461. The company has a 50 day moving average of $2.25 and a two-hundred day moving average of $2.77. Heron Therapeutics has a 52-week low of $0.50 and a 52-week high of $3.93. The firm has a market cap of $287.41 million, a price-to-earnings ratio of -3.11 and a beta of 1.80.

Heron Therapeutics (NASDAQ:HRTX) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The firm had revenue of $36.02 million during the quarter, compared to analyst estimates of $35.35 million. During the same period in the prior year, the company posted ($0.35) earnings per share. On average, equities research analysts predict that Heron Therapeutics will post -0.1 EPS for the current year.

Institutional Investors Weigh In On Heron Therapeutics

A number of large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. boosted its holdings in Heron Therapeutics by 30.2% in the fourth quarter. Victory Capital Management Inc. now owns 19,929 shares of the biotechnology company’s stock valued at $34,000 after acquiring an additional 4,617 shares during the last quarter. Orchard Capital Management LLC increased its position in shares of Heron Therapeutics by 4.7% during the fourth quarter. Orchard Capital Management LLC now owns 2,243,426 shares of the biotechnology company’s stock worth $3,814,000 after acquiring an additional 100,603 shares during the last quarter. Diversified Trust Co purchased a new stake in shares of Heron Therapeutics during the first quarter worth about $66,000. Commonwealth Equity Services LLC increased its position in shares of Heron Therapeutics by 3.1% during the first quarter. Commonwealth Equity Services LLC now owns 338,526 shares of the biotechnology company’s stock worth $938,000 after acquiring an additional 10,122 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Heron Therapeutics in the first quarter valued at about $90,000. Institutional investors and hedge funds 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.