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

Heron Therapeutics (NASDAQ:HRTX) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Separately, Needham & Company LLC decreased their price target 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 5.5 %

NASDAQ:HRTX traded down $0.07 during mid-day trading on Wednesday, hitting $1.21. The company had a trading volume of 2,835,523 shares, compared to its average volume of 2,422,263. The business has a fifty day simple moving average of $1.85 and a 200-day simple moving average of $2.53. The firm has a market capitalization of $183.52 million, a price-to-earnings ratio of -6.72 and a beta of 1.81. Heron Therapeutics has a 1 year low of $0.53 and a 1 year high of $3.93.

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, 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 firm earned ($0.17) EPS. As a group, research analysts anticipate that Heron Therapeutics will post -0.08 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Investment Counsel Inc lifted its holdings 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Heron Therapeutics by 15.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,922 shares of the biotechnology company’s stock worth $83,000 after acquiring an additional 3,991 shares in the last quarter. The Manufacturers Life Insurance Company boosted 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 acquiring an additional 6,328 shares during the period. nVerses Capital LLC acquired a new stake in Heron Therapeutics during the 2nd quarter worth about $27,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Heron Therapeutics by 21.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 45,273 shares of the biotechnology company’s stock valued at $90,000 after acquiring an additional 7,927 shares in the last quarter. 80.01% of the stock is currently owned by institutional investors and hedge funds.

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.