Heron Therapeutics (NASDAQ:HRTX) Given New $4.00 Price Target at Needham & Company LLC

Heron Therapeutics (NASDAQ:HRTX) had its price objective cut by Needham & Company LLC from $5.00 to $4.00 in a report released on Wednesday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Heron Therapeutics Stock Performance

NASDAQ:HRTX opened at $1.19 on Wednesday. Heron Therapeutics has a fifty-two week low of $0.81 and a fifty-two week high of $3.93. The company has a 50 day simple moving average of $1.82 and a two-hundred day simple moving average of $2.51. The company has a market capitalization of $180.99 million, a PE ratio of -6.61 and a beta of 1.81.

Heron Therapeutics (NASDAQ:HRTX) last released its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). The firm had revenue of $32.81 million for the quarter, compared to the consensus estimate of $36.40 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. Research analysts predict that Heron Therapeutics will post -0.08 EPS for the current year.

Institutional Investors Weigh In On Heron Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new position in Heron Therapeutics in the 2nd quarter worth about $27,000. Headlands Technologies LLC bought a new position in Heron Therapeutics in the first quarter valued at $30,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Heron Therapeutics during the 1st quarter valued at about $32,000. HB Wealth Management LLC bought a new stake in shares of Heron Therapeutics in the 2nd quarter worth approximately $35,000. Finally, Cutter & CO Brokerage Inc. purchased a new stake in Heron Therapeutics during the third quarter valued at about $39,000. 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.