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

Heron Therapeutics (NASDAQ:HRTX) had its price target lowered by Needham & Company LLC from $5.00 to $4.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the biotechnology company’s stock.

Heron Therapeutics Stock Down 4.0 %

Heron Therapeutics stock opened at $1.19 on Wednesday. Heron Therapeutics has a twelve month low of $0.81 and a twelve month high of $3.93. 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 50-day moving average price is $1.82 and its two-hundred day moving average price is $2.51.

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, meeting the consensus estimate of ($0.03). The firm had revenue of $32.81 million during the quarter, compared to the consensus estimate of $36.40 million. During the same quarter last year, the firm earned ($0.17) earnings per share. Equities analysts anticipate that Heron Therapeutics will post -0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Heron Therapeutics

A number of large investors have recently added to or reduced their stakes in HRTX. nVerses Capital LLC bought a new stake in shares of Heron Therapeutics during the 2nd quarter valued at $27,000. Headlands Technologies LLC acquired a new position in Heron Therapeutics during the first quarter valued at approximately $30,000. Susquehanna Fundamental Investments LLC bought a new stake in Heron Therapeutics during the first quarter worth $32,000. HB Wealth Management LLC acquired a new stake in shares of Heron Therapeutics in the 2nd quarter valued at $35,000. Finally, Cutter & CO Brokerage Inc. bought a new position in shares of Heron Therapeutics in the 3rd quarter valued at $39,000. 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.