Heron Therapeutics (NASDAQ:HRTX) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Heron Therapeutics (NASDAQ:HRTX) from a hold rating to a buy rating in a report published on Tuesday.

Separately, Needham & Company LLC reissued a “buy” rating and set a $4.00 target price on shares of Heron Therapeutics in a research note on Wednesday, December 4th.

Heron Therapeutics Trading Up 8.0 %

Shares of NASDAQ HRTX opened at $1.76 on Tuesday. Heron Therapeutics has a 12-month low of $1.04 and a 12-month high of $3.93. The company has a market cap of $267.70 million, a PE ratio of -9.78 and a beta of 1.60. The stock has a 50 day simple moving average of $1.49 and a 200-day simple moving average of $1.92.

Heron Therapeutics (NASDAQ:HRTX) last released its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($0.03) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.03). The business had revenue of $32.81 million during the quarter, compared to the consensus estimate of $36.40 million. During the same period in the previous year, the company posted ($0.17) EPS. Sell-side analysts forecast that Heron Therapeutics will post -0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Heron Therapeutics

Several hedge funds have recently modified their holdings of HRTX. Congress Park Capital LLC lifted its holdings in shares of Heron Therapeutics by 25.3% in the third quarter. Congress Park Capital LLC now owns 1,978,078 shares of the biotechnology company’s stock valued at $3,936,000 after buying an additional 399,577 shares during the period. Principal Financial Group Inc. raised its position in Heron Therapeutics by 456.5% in the third quarter. Principal Financial Group Inc. now owns 102,651 shares of the biotechnology company’s stock worth $204,000 after acquiring an additional 84,205 shares in the last quarter. Verition Fund Management LLC lifted its holdings in Heron Therapeutics by 340.0% in the 3rd quarter. Verition Fund Management LLC now owns 108,115 shares of the biotechnology company’s stock valued at $215,000 after acquiring an additional 83,542 shares during the last quarter. Squarepoint Ops LLC boosted its position in shares of Heron Therapeutics by 369.0% during the 2nd quarter. Squarepoint Ops LLC now owns 363,700 shares of the biotechnology company’s stock valued at $1,273,000 after purchasing an additional 286,160 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Heron Therapeutics by 256.2% in the 2nd 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 last quarter. 80.01% of the stock is currently owned by institutional investors and hedge funds.

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.