Heron Therapeutics (HRTX) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Heron Therapeutics (NASDAQ:HRTX) from a hold rating to a sell rating in a report issued on Wednesday morning.

According to Zacks, “Heron Therapeutics Inc. is a specialty pharmaceutical company. The company is developing products using its proprietary Biochronomer (TM) polymer-based drug delivery platform. Its product portfolio includes APF530, is being developed for the prevention of acute chemotherapy-induced nausea and vomiting. Heron Therapeutics Inc., formerly known as A.P. Pharma, Inc., is based in REDWOOD CITY CA. “

Other research analysts also recently issued reports about the company. BidaskClub downgraded Heron Therapeutics from a hold rating to a sell rating in a report on Saturday, September 22nd. ValuEngine downgraded Heron Therapeutics from a buy rating to a hold rating in a report on Tuesday, September 4th. Cantor Fitzgerald restated a buy rating and set a $40.00 price objective on shares of Heron Therapeutics in a report on Thursday, June 21st. Cowen restated a buy rating and set a $54.00 price objective on shares of Heron Therapeutics in a report on Thursday, June 21st. Finally, Stifel Nicolaus assumed coverage on Heron Therapeutics in a report on Thursday, September 13th. They set a buy rating and a $55.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the stock. Heron Therapeutics presently has an average rating of Buy and a consensus target price of $52.09.

Shares of NASDAQ HRTX traded up $0.41 during midday trading on Wednesday, hitting $29.41. The company’s stock had a trading volume of 602,206 shares, compared to its average volume of 1,178,604. Heron Therapeutics has a 12-month low of $14.40 and a 12-month high of $42.90. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 8.06 and a beta of 1.59.

Heron Therapeutics (NASDAQ:HRTX) last issued its quarterly earnings results on Wednesday, August 8th. The biotechnology company reported ($0.54) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.14. Heron Therapeutics had a negative return on equity of 112.35% and a negative net margin of 411.41%. The firm had revenue of $17.28 million for the quarter, compared to the consensus estimate of $12.82 million. During the same period in the prior year, the business posted ($0.80) earnings per share. The company’s revenue for the quarter was up 103.1% on a year-over-year basis. Research analysts expect that Heron Therapeutics will post -2.2 EPS for the current year.

In related news, Director Kevin C. Tang sold 2,695,000 shares of Heron Therapeutics stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $35.75, for a total value of $96,346,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Kimberly Manhard sold 6,000 shares of Heron Therapeutics stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $32.07, for a total value of $192,420.00. Following the completion of the transaction, the vice president now owns 6,000 shares of the company’s stock, valued at approximately $192,420. The disclosure for this sale can be found here. Insiders own 16.20% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Aperio Group LLC increased its stake in Heron Therapeutics by 14.4% during the 2nd quarter. Aperio Group LLC now owns 11,261 shares of the biotechnology company’s stock worth $437,000 after buying an additional 1,416 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Heron Therapeutics by 18.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 11,229 shares of the biotechnology company’s stock worth $310,000 after buying an additional 1,761 shares in the last quarter. Jane Street Group LLC increased its stake in Heron Therapeutics by 10.7% during the 1st quarter. Jane Street Group LLC now owns 20,811 shares of the biotechnology company’s stock worth $574,000 after buying an additional 2,005 shares in the last quarter. Pinnacle Associates Ltd. increased its stake in Heron Therapeutics by 5.2% during the 2nd quarter. Pinnacle Associates Ltd. now owns 45,915 shares of the biotechnology company’s stock worth $1,784,000 after buying an additional 2,255 shares in the last quarter. Finally, Private Asset Management Inc. increased its stake in Heron Therapeutics by 2.8% during the 2nd quarter. Private Asset Management Inc. now owns 97,725 shares of the biotechnology company’s stock worth $2,697,000 after buying an additional 2,625 shares in the last quarter.

Heron Therapeutics Company Profile

Heron Therapeutics, Inc, a biotechnology company, engages in developing medicines to address unmet medical needs. The company's product candidates utilize its proprietary Biochronomer 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.

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