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

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

Separately, StockNews.com cut Heron Therapeutics from a hold rating to a sell rating in a research note on Thursday, October 19th.

Heron Therapeutics Price Performance

Shares of HRTX stock opened at $1.09 on Wednesday. The stock has a market cap of $163.58 million, a PE ratio of -1.14 and a beta of 1.12. The stock has a 50-day moving average of $0.86 and a 200-day moving average of $1.26. Heron Therapeutics has a one year low of $0.50 and a one year high of $3.41.

Insider Transactions at Heron Therapeutics

In other Heron Therapeutics news, CFO Ira Duarte purchased 85,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was bought at an average cost of $0.89 per share, with a total value of $75,650.00. Following the purchase, the chief financial officer now directly owns 85,000 shares of the company’s stock, valued at $75,650. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Craig A. Collard acquired 150,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was bought at an average price of $0.92 per share, with a total value of $138,000.00. Following the acquisition, the chief executive officer now owns 186,496 shares in the company, valued at approximately $171,576.32. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ira Duarte acquired 85,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was bought at an average cost of $0.89 per share, with a total value of $75,650.00. Following the acquisition, the chief financial officer now owns 85,000 shares in the company, valued at approximately $75,650. The disclosure for this purchase can be found here. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Heron Therapeutics

Several large investors have recently made changes to their positions in HRTX. Bank of New York Mellon Corp boosted its holdings in shares of Heron Therapeutics by 2.0% in the 1st quarter. Bank of New York Mellon Corp now owns 304,733 shares of the biotechnology company’s stock valued at $1,744,000 after buying an additional 5,882 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Heron Therapeutics by 63.4% in the 1st quarter. MetLife Investment Management LLC now owns 53,564 shares of the biotechnology company’s stock valued at $306,000 after buying an additional 20,791 shares during the last quarter. BlackRock Inc. lifted its holdings in Heron Therapeutics by 6.2% during the 1st quarter. BlackRock Inc. now owns 8,156,131 shares of the biotechnology company’s stock valued at $46,650,000 after purchasing an additional 473,930 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Heron Therapeutics by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 9,934,688 shares of the biotechnology company’s stock valued at $56,827,000 after purchasing an additional 325,643 shares during the last quarter. Finally, Bridgefront Capital LLC acquired a new stake in Heron Therapeutics during the 1st quarter valued at $60,000. Institutional investors and hedge funds own 81.77% of the company’s stock.

About Heron Therapeutics

Heron Therapeutics, Inc, a biotechnology company, engages in developing treatments to address unmet patient needs. 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.