HC Wainwright Initiates Coverage on Heron Therapeutics (NASDAQ:HRTX)

Analysts at HC Wainwright assumed coverage on shares of Heron Therapeutics (NASDAQ:HRTX) in a research note issued to investors on Monday, Marketbeat reports. The firm set a “buy” rating and a $6.00 price target on the biotechnology company’s stock. HC Wainwright’s price target suggests a potential upside of 183.02% from the stock’s current price.

A number of other research firms have also weighed in on HRTX. Wall Street Zen raised Heron Therapeutics from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $4.00 price objective on shares of Heron Therapeutics in a report on Friday, April 11th.

Heron Therapeutics Stock Performance

Shares of NASDAQ:HRTX opened at $2.12 on Monday. The stock has a 50 day moving average of $2.01 and a 200 day moving average of $1.88. The company has a market cap of $323.44 million, a PE ratio of -11.78 and a beta of 1.16. Heron Therapeutics has a 12-month low of $1.04 and a 12-month high of $3.93.

Heron Therapeutics (NASDAQ:HRTX) last posted its quarterly earnings results on Tuesday, May 6th. The biotechnology company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The firm had revenue of $38.90 million during the quarter, compared to the consensus estimate of $37.08 million. Equities research analysts predict that Heron Therapeutics will post -0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Heron Therapeutics by 0.8% in the first quarter. Vanguard Group Inc. now owns 8,225,585 shares of the biotechnology company’s stock worth $18,096,000 after buying an additional 67,976 shares in the last quarter. Palisade Capital Management LP increased its stake in Heron Therapeutics by 34.7% in the 1st quarter. Palisade Capital Management LP now owns 5,286,931 shares of the biotechnology company’s stock worth $11,631,000 after acquiring an additional 1,360,542 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Heron Therapeutics during the 4th quarter worth approximately $4,706,000. AIGH Capital Management LLC bought a new position in shares of Heron Therapeutics during the 1st quarter valued at approximately $6,112,000. Finally, JW Asset Management LLC boosted its position in shares of Heron Therapeutics by 2.0% during the 1st quarter. JW Asset Management LLC now owns 2,337,743 shares of the biotechnology company’s stock valued at $5,143,000 after acquiring an additional 45,325 shares during the last quarter. Hedge funds and other 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.