Heron Therapeutics (NASDAQ:HRTX) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Heron Therapeutics (NASDAQ:HRTX) in a research note released on Wednesday morning, Benzinga reports. They currently have a $5.00 price objective on the biotechnology company’s stock.

HRTX has been the subject of several other reports. Capital One Financial assumed coverage on Heron Therapeutics in a research note on Tuesday, April 23rd. They issued an overweight rating and a $6.00 price target for the company. Rodman & Renshaw assumed coverage on Heron Therapeutics in a research note on Thursday, June 13th. They issued a buy rating and a $7.00 price target for the company.

Heron Therapeutics Stock Performance

Shares of NASDAQ HRTX traded up $0.13 during midday trading on Wednesday, reaching $2.13. The stock had a trading volume of 1,724,952 shares, compared to its average volume of 2,618,197. The company has a market capitalization of $320.89 million, a price-to-earnings ratio of -3.54 and a beta of 1.81. Heron Therapeutics has a 12-month low of $0.50 and a 12-month high of $3.93. The stock has a 50-day moving average of $3.23 and a 200-day moving average of $2.92.

Heron Therapeutics (NASDAQ:HRTX) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The firm had revenue of $36.02 million during the quarter, compared to analysts’ expectations of $35.35 million. During the same period last year, the business posted ($0.35) earnings per share. As a group, analysts forecast that Heron Therapeutics will post -0.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. nVerses Capital LLC bought a new position in shares of Heron Therapeutics during the 2nd quarter valued at approximately $27,000. HB Wealth Management LLC bought a new stake in Heron Therapeutics in the second quarter worth $35,000. Headlands Technologies LLC bought a new stake in Heron Therapeutics in the first quarter worth $30,000. Susquehanna Fundamental Investments LLC bought a new stake in Heron Therapeutics in the first quarter worth $32,000. Finally, Valeo Financial Advisors LLC bought a new stake in Heron Therapeutics in the second quarter worth $45,000. 80.01% of the stock is currently owned by institutional investors.

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.