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 research note released on Wednesday.

Separately, Needham & Company LLC lowered their price objective on Heron Therapeutics from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Wednesday.

Heron Therapeutics Trading Down 4.0 %

NASDAQ HRTX opened at $1.19 on Wednesday. The stock has a market cap of $180.99 million, a P/E ratio of -6.61 and a beta of 1.81. The company’s fifty day simple moving average is $1.82 and its 200-day simple moving average is $2.51. Heron Therapeutics has a 52 week low of $0.81 and a 52 week high of $3.93.

Heron Therapeutics (NASDAQ:HRTX) last issued its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). The firm had revenue of $32.81 million during the quarter, compared to analyst estimates of $36.40 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. On average, research analysts expect that Heron Therapeutics will post -0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Heron Therapeutics

Institutional investors have recently modified their holdings of the stock. Barclays PLC grew its stake in Heron Therapeutics by 29.8% in the third quarter. Barclays PLC now owns 218,455 shares of the biotechnology company’s stock worth $434,000 after purchasing an additional 50,109 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Heron Therapeutics during the 3rd quarter worth approximately $39,000. XTX Topco Ltd grew its position in shares of Heron Therapeutics by 449.0% in the 3rd quarter. XTX Topco Ltd now owns 297,568 shares of the biotechnology company’s stock worth $592,000 after acquiring an additional 243,363 shares in the last quarter. Zacks Investment Management increased its holdings in shares of Heron Therapeutics by 2.4% in the 3rd quarter. Zacks Investment Management now owns 475,575 shares of the biotechnology company’s stock valued at $946,000 after acquiring an additional 11,320 shares during the last quarter. Finally, Clearline Capital LP raised its position in shares of Heron Therapeutics by 48.9% during the 3rd quarter. Clearline Capital LP now owns 2,226,512 shares of the biotechnology company’s stock valued at $4,431,000 after acquiring an additional 731,246 shares in the last quarter. Institutional investors and hedge funds own 80.01% of the company’s stock.

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.