Heron Therapeutics (NASDAQ:HRTX) Upgraded by StockNews.com to Buy Rating

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

Separately, Needham & Company LLC lowered their price target on shares of Heron Therapeutics from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Wednesday.

Heron Therapeutics Price Performance

Shares of NASDAQ HRTX opened at $1.21 on Wednesday. The stock has a market capitalization of $183.52 million, a PE ratio of -6.72 and a beta of 1.81. Heron Therapeutics has a one year low of $0.53 and a one year high of $3.93. The business’s fifty day moving average price is $1.85 and its 200-day moving average price is $2.53.

Heron Therapeutics (NASDAQ:HRTX) last released its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.03) 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 last year, the business posted ($0.17) earnings per share. As a group, equities analysts expect that Heron Therapeutics will post -0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Heron Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Congress Park Capital LLC grew its holdings in shares of Heron Therapeutics by 25.3% during the third quarter. Congress Park Capital LLC now owns 1,978,078 shares of the biotechnology company’s stock worth $3,936,000 after purchasing an additional 399,577 shares in the last quarter. Marshall Wace LLP grew its stake in 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 buying an additional 1,266,697 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Heron Therapeutics by 1,460.9% during the 2nd quarter. AQR Capital Management LLC now owns 607,135 shares of the biotechnology company’s stock valued at $2,125,000 after buying an additional 568,238 shares in the last quarter. Panagora Asset Management Inc. increased its stake in Heron Therapeutics by 49.8% in the second quarter. Panagora Asset Management Inc. now owns 562,228 shares of the biotechnology company’s stock valued at $1,968,000 after acquiring an additional 186,802 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its stake in Heron Therapeutics by 18.4% during the third quarter. GSA Capital Partners LLP now owns 512,736 shares of the biotechnology company’s stock worth $1,020,000 after purchasing an additional 79,680 shares during the last quarter. 80.01% of the stock is currently owned by institutional investors.

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.