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

by · The Cerbat Gem

Needham & Company LLC reiterated their buy rating on shares of Heron Therapeutics (NASDAQ:HRTX – Free Report) in a report issued on Wednesday, Benzinga reports. They currently have a $5.00 price target on the biotechnology company’s stock.

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

View Our Latest Stock Analysis on Heron Therapeutics

Heron Therapeutics Price Performance

Shares of NASDAQ HRTX opened at $1.99 on Wednesday. Heron Therapeutics has a 1 year low of $0.50 and a 1 year high of $3.93. The company’s 50-day moving average is $2.17 and its 200 day moving average is $2.75. The stock has a market capitalization of $299.80 million, a P/E ratio of -3.26 and a beta of 1.80.

Heron Therapeutics (NASDAQ:HRTX – Get Free Report) last announced its quarterly earnings results 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 company had revenue of $36.02 million for the quarter, compared to the consensus estimate of $35.35 million. During the same quarter in the prior year, the company earned ($0.35) EPS. Research analysts anticipate that Heron Therapeutics will post -0.1 earnings per share for the current year.

Institutional Investors Weigh In On Heron Therapeutics

Several hedge funds have recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. bought a new stake in Heron Therapeutics during the second quarter worth about $41,000. The Manufacturers Life Insurance Company lifted its stake in shares of 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 worth $160,000 after buying an additional 6,328 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Heron Therapeutics by 1,460.9% in the second quarter. AQR Capital Management LLC now owns 607,135 shares of the biotechnology company’s stock worth $2,125,000 after buying an additional 568,238 shares in the last quarter. Caxton Associates LP bought a new position in shares of Heron Therapeutics in the second quarter worth approximately $708,000. Finally, Squarepoint Ops LLC lifted its stake in shares of Heron Therapeutics by 369.0% in the second quarter. Squarepoint Ops LLC now owns 363,700 shares of the biotechnology company’s stock worth $1,273,000 after buying an additional 286,160 shares in the last quarter. Institutional investors own 80.01% of the company’s stock.

Heron Therapeutics Company Profile

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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.

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