StockNews.com Upgrades Heron Therapeutics (NASDAQ:HRTX) to "Buy"

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

Separately, Needham & Company LLC restated a "buy" rating and set a $4.00 price target on shares of Heron Therapeutics in a research report on Wednesday, December 4th.

Heron Therapeutics Stock Performance

NASDAQ HRTX traded down $0.07 on Wednesday, reaching $1.69. 2,510,145 shares of the company's stock traded hands, compared to its average volume of 2,724,590. The firm has a market cap of $257.04 million, a price-to-earnings ratio of -9.78 and a beta of 1.68. The stock has a 50 day moving average price of $1.61 and a 200-day moving average price of $2.30. Heron Therapeutics has a fifty-two week low of $1.04 and a fifty-two week high of $3.93.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last posted its earnings results on Tuesday, November 12th. The biotechnology company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.03). The business had revenue of $32.81 million for the quarter, compared to analyst estimates of $36.40 million. During the same quarter in the prior year, the firm earned ($0.17) earnings per share. As a group, equities research analysts anticipate that Heron Therapeutics will post -0.13 EPS for the current fiscal year.

Institutional Trading of Heron Therapeutics

Hedge funds have recently made changes to their positions in the company. Congress Park Capital LLC grew its stake in shares of Heron Therapeutics by 25.3% in the 3rd quarter. Congress Park Capital LLC now owns 1,978,078 shares of the biotechnology company's stock valued at $3,936,000 after buying an additional 399,577 shares during the period. Squarepoint Ops LLC lifted its holdings in shares of Heron Therapeutics by 369.0% in the 2nd quarter. Squarepoint Ops LLC now owns 363,700 shares of the biotechnology company's stock worth $1,273,000 after acquiring an additional 286,160 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of 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 acquiring an additional 1,266,697 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Heron Therapeutics by 16.0% in 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 last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Heron Therapeutics in the 2nd quarter worth approximately $694,000. Hedge funds and other institutional investors own 80.01% of the company's stock.

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.