StockNews.com Upgrades Heron Therapeutics (NASDAQ:HRTX) to “Buy”

Heron Therapeutics (NASDAQ:HRTX) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $4.00 price target on shares of Heron Therapeutics in a report on Wednesday, December 4th.

Heron Therapeutics Price Performance

Shares of NASDAQ:HRTX opened at $1.76 on Wednesday. The business has a 50-day moving average of $1.61 and a two-hundred day moving average of $2.30. The firm has a market capitalization of $267.69 million, a PE ratio of -9.78 and a beta of 1.68. Heron Therapeutics has a 12 month low of $1.04 and a 12 month high of $3.93.

Heron Therapeutics (NASDAQ:HRTX) last posted its earnings results on Tuesday, November 12th. The biotechnology company reported ($0.03) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.03). The business had revenue of $32.81 million for the quarter, compared to analyst estimates of $36.40 million. During the same period last year, the company posted ($0.17) EPS. As a group, research analysts anticipate that Heron Therapeutics will post -0.13 earnings per share for the current year.

Institutional Trading of Heron Therapeutics

A number of hedge funds have recently made changes to their positions in HRTX. Congress Park Capital LLC grew its holdings in Heron Therapeutics by 25.3% during the 3rd quarter. Congress Park Capital LLC now owns 1,978,078 shares of the biotechnology company’s stock valued at $3,936,000 after purchasing an additional 399,577 shares in the last quarter. Squarepoint Ops LLC increased its position in shares of Heron Therapeutics by 369.0% during the second quarter. Squarepoint Ops LLC now owns 363,700 shares of the biotechnology company’s stock worth $1,273,000 after acquiring an additional 286,160 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Heron Therapeutics by 256.2% in the second quarter. Marshall Wace LLP now owns 1,761,051 shares of the biotechnology company’s stock worth $6,164,000 after acquiring an additional 1,266,697 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Heron Therapeutics by 16.0% in the second quarter. The Manufacturers Life Insurance Company now owns 45,771 shares of the biotechnology company’s stock valued at $160,000 after purchasing an additional 6,328 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Heron Therapeutics during the 2nd quarter valued at approximately $694,000. Hedge funds and other 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.