Heron Therapeutics (NASDAQ:HRTX) Upgraded 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 reaffirmed a “buy” rating and set a $4.00 price target on shares of Heron Therapeutics in a research note on Wednesday, December 4th.

Heron Therapeutics Stock Performance

Shares of HRTX stock opened at $1.60 on Wednesday. The stock has a market capitalization of $243.36 million, a price-to-earnings ratio of -8.89 and a beta of 1.67. Heron Therapeutics has a 12-month low of $1.04 and a 12-month high of $3.93. The stock’s 50-day moving average price is $1.58 and its 200-day moving average price is $2.28.

Heron Therapeutics (NASDAQ:HRTX) last issued its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.03) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.03). The firm had revenue of $32.81 million for the quarter, compared to analysts’ expectations of $36.40 million. During the same period last year, the company earned ($0.17) earnings per share. As a group, research analysts predict that Heron Therapeutics will post -0.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Heron Therapeutics

A number of hedge funds have recently modified their holdings of the business. Capital Investment Counsel Inc lifted its stake in shares of Heron Therapeutics by 27.2% in the second quarter. Capital Investment Counsel Inc now owns 14,625 shares of the biotechnology company’s stock valued at $51,000 after purchasing an additional 3,125 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Heron Therapeutics by 15.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,922 shares of the biotechnology company’s stock valued at $83,000 after acquiring an additional 3,991 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Heron Therapeutics by 16.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 45,771 shares of the biotechnology company’s stock worth $160,000 after purchasing an additional 6,328 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Heron Therapeutics in the 2nd quarter valued at $27,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in Heron Therapeutics by 21.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 45,273 shares of the biotechnology company’s stock valued at $90,000 after purchasing an additional 7,927 shares during the period. 80.01% of the stock is currently owned by hedge funds and other 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.