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

Heron Therapeutics (NASDAQ:HRTX)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a report issued on Wednesday, Benzinga reports. They currently have a $5.00 price objective on the biotechnology company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 143.90% from the company’s previous close.

Separately, Rodman & Renshaw began coverage on shares of Heron Therapeutics in a report on Thursday, June 13th. They issued a “buy” rating and a $7.00 price target for the company.

Heron Therapeutics Stock Up 8.5 %

Shares of HRTX stock opened at $2.05 on Wednesday. The stock has a 50 day moving average of $2.19 and a 200-day moving average of $2.76. The firm has a market cap of $308.84 million, a PE ratio of -3.36 and a beta of 1.80. Heron Therapeutics has a 12 month low of $0.50 and a 12 month high of $3.93.

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

Institutional Investors Weigh In On Heron Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Orchard Capital Management LLC raised its position in Heron Therapeutics by 4.7% during the 4th quarter. Orchard Capital Management LLC now owns 2,243,426 shares of the biotechnology company’s stock worth $3,814,000 after purchasing an additional 100,603 shares during the last quarter. Marshall Wace LLP raised its position in shares of Heron Therapeutics by 256.2% during the second quarter. Marshall Wace LLP now owns 1,761,051 shares of the biotechnology company’s stock worth $6,164,000 after purchasing an additional 1,266,697 shares during the period. AQR Capital Management LLC raised its holdings in shares of Heron Therapeutics by 1,460.9% in the 2nd quarter. AQR Capital Management LLC now owns 607,135 shares of the biotechnology company’s stock worth $2,125,000 after acquiring an additional 568,238 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in shares of Heron Therapeutics by 49.8% in the second quarter. Panagora Asset Management Inc. now owns 562,228 shares of the biotechnology company’s stock valued at $1,968,000 after purchasing an additional 186,802 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Heron Therapeutics by 33.9% during the second quarter. Bank of New York Mellon Corp now owns 449,212 shares of the biotechnology company’s stock valued at $1,572,000 after purchasing an additional 113,655 shares in the last quarter. 80.01% of the stock is currently owned by 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.