Heron Therapeutics (NASDAQ:HRTX) Earns "Buy" Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Heron Therapeutics (NASDAQ:HRTX - Free Report) in a report released on Friday,Benzinga reports. Needham & Company LLC currently has a $4.00 price target on the biotechnology company's stock.

Separately, StockNews.com downgraded Heron Therapeutics from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th.

Heron Therapeutics Stock Down 4.2 %

NASDAQ:HRTX traded down $0.08 during trading hours on Friday, reaching $1.84. 490,314 shares of the stock were exchanged, compared to its average volume of 2,356,105. Heron Therapeutics has a 52 week low of $1.04 and a 52 week high of $3.93. The stock has a market capitalization of $280.23 million, a P/E ratio of -10.22 and a beta of 1.39. The firm has a 50 day simple moving average of $2.07 and a 200-day simple moving average of $1.78.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last released its earnings results on Thursday, February 27th. The biotechnology company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.05. The business had revenue of $40.78 million for the quarter, compared to the consensus estimate of $37.37 million. As a group, analysts expect that Heron Therapeutics will post -0.13 earnings per share for the current year.

Hedge Funds Weigh In On Heron Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC grew its stake in shares of Heron Therapeutics by 26.2% in the third quarter. FMR LLC now owns 431,906 shares of the biotechnology company's stock worth $859,000 after purchasing an additional 89,601 shares in the last quarter. BNP Paribas Financial Markets grew its position in Heron Therapeutics by 50.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 275,946 shares of the biotechnology company's stock valued at $549,000 after buying an additional 92,425 shares in the last quarter. Verition Fund Management LLC increased its stake in Heron Therapeutics by 340.0% during the 3rd quarter. Verition Fund Management LLC now owns 108,115 shares of the biotechnology company's stock valued at $215,000 after buying an additional 83,542 shares during the period. XTX Topco Ltd raised its position in shares of Heron Therapeutics by 449.0% during the 3rd quarter. XTX Topco Ltd now owns 297,568 shares of the biotechnology company's stock worth $592,000 after buying an additional 243,363 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Heron Therapeutics in the 3rd quarter worth approximately $39,000. 80.01% of the stock is owned by institutional investors.

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.