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

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) was upgraded by research analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Friday.

Separately, Needham & Company LLC reissued a "buy" rating and issued a $4.00 price target on shares of Heron Therapeutics in a research note on Friday.

Heron Therapeutics Trading Up 13.8 %

NASDAQ HRTX traded up $0.31 on Friday, hitting $2.55. The company's stock had a trading volume of 2,694,384 shares, compared to its average volume of 1,819,324. Heron Therapeutics has a 52-week low of $1.04 and a 52-week high of $3.93. The firm has a market cap of $387.84 million, a P/E ratio of -14.17 and a beta of 1.60. The company's 50-day simple moving average is $1.70 and its 200 day simple moving average is $1.71.

Heron Therapeutics (NASDAQ:HRTX - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The biotechnology company reported $0.02 EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.05. The business had revenue of $40.78 million during the quarter, compared to analysts' expectations of $37.37 million. On average, research analysts forecast that Heron Therapeutics will post -0.13 EPS for the current fiscal year.

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Hedge Funds Weigh In On Heron Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its position in shares of Heron Therapeutics by 21.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 45,273 shares of the biotechnology company's stock worth $90,000 after buying an additional 7,927 shares during the period. Principal Financial Group Inc. grew its holdings in Heron Therapeutics by 456.5% in the third quarter. Principal Financial Group Inc. now owns 102,651 shares of the biotechnology company's stock worth $204,000 after purchasing an additional 84,205 shares during the period. GSA Capital Partners LLP increased its stake in shares of Heron Therapeutics by 18.4% during the third quarter. GSA Capital Partners LLP now owns 512,736 shares of the biotechnology company's stock valued at $1,020,000 after purchasing an additional 79,680 shares in the last quarter. King Wealth Management Group increased its stake in shares of Heron Therapeutics by 52.3% during the third quarter. King Wealth Management Group now owns 23,299 shares of the biotechnology company's stock valued at $46,000 after purchasing an additional 8,000 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Heron Therapeutics during the third quarter valued at approximately $72,000. Institutional investors 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.