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

Needham & Company LLC restated their buy rating on shares of Heron Therapeutics (NASDAQ:HRTX) in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a $5.00 target price on the biotechnology company’s stock.

Separately, Rodman & Renshaw initiated coverage on shares of Heron Therapeutics in a research report on Thursday, June 13th. They set a buy rating and a $7.00 price objective on the stock.

Heron Therapeutics Stock Performance

Shares of NASDAQ HRTX opened at $1.99 on Wednesday. The company has a market cap of $299.80 million, a PE ratio of -3.26 and a beta of 1.80. The firm’s 50 day moving average price is $2.17 and its 200-day moving average price is $2.75. Heron Therapeutics has a 52-week low of $0.50 and a 52-week high of $3.93.

Heron Therapeutics (NASDAQ:HRTX) last issued 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 company had revenue of $36.02 million for the quarter, compared to the consensus estimate of $35.35 million. During the same quarter last year, the business posted ($0.35) EPS. On average, analysts forecast that Heron Therapeutics will post -0.1 earnings per share for the current fiscal year.

Institutional Trading of Heron Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its holdings in Heron Therapeutics by 80.7% during the first quarter. BNP Paribas Financial Markets now owns 51,296 shares of the biotechnology company’s stock valued at $142,000 after buying an additional 22,904 shares during the last quarter. Orchard Capital Management LLC increased its holdings in 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 valued at $3,814,000 after buying an additional 100,603 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Heron Therapeutics during the first quarter valued at approximately $32,000. State Board of Administration of Florida Retirement System increased its holdings in Heron Therapeutics by 51.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 40,705 shares of the biotechnology company’s stock valued at $113,000 after buying an additional 13,811 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Heron Therapeutics in the second quarter worth $694,000. 80.01% of the stock is owned by hedge funds and other institutional investors.

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.