Needham & Company LLC Has Lowered Expectations for Heron Therapeutics (NASDAQ:HRTX) Stock Price

Heron Therapeutics (NASDAQ:HRTX) had its target price lowered by research analysts at Needham & Company LLC from $5.00 to $4.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 222.58% from the stock’s current price.

Heron Therapeutics Stock Performance

Shares of HRTX opened at $1.24 on Wednesday. The firm has a market capitalization of $188.07 million, a P/E ratio of -6.89 and a beta of 1.81. Heron Therapeutics has a 52 week low of $0.72 and a 52 week high of $3.93. The stock has a 50 day moving average price of $1.84 and a two-hundred day moving average price of $2.52.

Heron Therapeutics (NASDAQ:HRTX) last released its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($0.03) EPS for the quarter, meeting analysts’ consensus estimates of ($0.03). The company had revenue of $32.81 million during the quarter, compared to analysts’ expectations of $36.40 million. During the same period in the previous year, the company posted ($0.17) earnings per share. On average, equities analysts forecast that Heron Therapeutics will post -0.08 earnings per share for the current year.

Institutional Investors Weigh In On Heron Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Verition Fund Management LLC boosted its stake in shares of Heron Therapeutics by 340.0% in the 3rd quarter. Verition Fund Management LLC now owns 108,115 shares of the biotechnology company’s stock worth $215,000 after buying an additional 83,542 shares during the last quarter. Capstone Investment Advisors LLC bought a new position in Heron Therapeutics in the 3rd quarter valued at $45,000. Glenmede Trust Co. NA increased its position in shares of Heron Therapeutics by 49.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 31,903 shares of the biotechnology company’s stock valued at $63,000 after purchasing an additional 10,578 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Heron Therapeutics by 50.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 275,946 shares of the biotechnology company’s stock valued at $549,000 after purchasing an additional 92,425 shares during the last quarter. Finally, FMR LLC raised its stake in shares of Heron Therapeutics by 26.2% during the 3rd quarter. FMR LLC now owns 431,906 shares of the biotechnology company’s stock worth $859,000 after purchasing an additional 89,601 shares during the period. Hedge funds and other institutional investors own 80.01% of the company’s stock.

About Heron Therapeutics

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.