Needham & Company LLC Cuts Heron Therapeutics (NASDAQ:HRTX) Price Target to $4.00

Heron Therapeutics (NASDAQ:HRTX) had its target price lowered by Needham & Company LLC from $5.00 to $4.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the biotechnology company’s stock.

Heron Therapeutics Trading Down 4.0 %

NASDAQ:HRTX opened at $1.19 on Wednesday. Heron Therapeutics has a 1-year low of $0.81 and a 1-year high of $3.93. The business’s 50-day moving average price is $1.82 and its two-hundred day moving average price is $2.51. The firm has a market capitalization of $181.00 million, a price-to-earnings ratio of -6.61 and a beta of 1.81.

Heron Therapeutics (NASDAQ:HRTX) last released its earnings results on Tuesday, November 12th. The biotechnology company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). The company had revenue of $32.81 million during the quarter, compared to analyst estimates of $36.40 million. During the same period in the previous year, the company posted ($0.17) EPS. Sell-side analysts predict that Heron Therapeutics will post -0.08 earnings per share for the current year.

Hedge Funds Weigh In On Heron Therapeutics

Several hedge funds have recently added to or reduced their stakes in HRTX. nVerses Capital LLC acquired a new stake in shares of Heron Therapeutics during the second quarter worth about $27,000. HB Wealth Management LLC acquired a new stake in shares of Heron Therapeutics during the second quarter worth about $35,000. Headlands Technologies LLC acquired a new stake in shares of Heron Therapeutics during the first quarter worth about $30,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Heron Therapeutics during the second quarter worth about $41,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Heron Therapeutics during the first quarter worth about $32,000. Institutional investors and hedge funds 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.