Heron Therapeutics (NASDAQ:HRTX) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Tuesday.
A number of other brokerages have also recently issued reports on HRTX. Cantor Fitzgerald reiterated a “buy” rating and set a $50.00 price objective on shares of Heron Therapeutics in a report on Wednesday, August 8th. ValuEngine cut shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. Zacks Investment Research upgraded shares of Heron Therapeutics from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Wednesday, July 18th. Finally, Stifel Nicolaus began coverage on shares of Heron Therapeutics in a report on Thursday, September 13th. They set a “buy” rating and a $55.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $52.09.
HRTX traded down $0.39 during midday trading on Tuesday, hitting $27.16. The company had a trading volume of 660,110 shares, compared to its average volume of 1,163,382. Heron Therapeutics has a 52 week low of $14.95 and a 52 week high of $42.90. The company has a market cap of $2.21 billion, a P/E ratio of 7.44 and a beta of 1.45.
Heron Therapeutics (NASDAQ:HRTX) last posted its quarterly earnings results on Wednesday, November 7th. The biotechnology company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.05). Heron Therapeutics had a negative net margin of 326.79% and a negative return on equity of 72.23%. The company had revenue of $19.79 million during the quarter, compared to the consensus estimate of $19.84 million. During the same period last year, the firm posted ($0.77) earnings per share. The company’s revenue for the quarter was up 130.9% on a year-over-year basis. As a group, analysts forecast that Heron Therapeutics will post -2.19 earnings per share for the current fiscal year.
In other news, 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 transaction of $192,420.00. Following the completion of the transaction, the vice president now directly owns 6,000 shares in the company, valued at $192,420. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kevin C. Tang sold 2,695,000 shares of the business’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $35.75, for a total transaction of $96,346,250.00. The disclosure for this sale can be found here. Insiders have sold 2,701,494 shares of company stock valued at $96,553,796 over the last quarter. Corporate insiders own 16.20% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in HRTX. Cubist Systematic Strategies LLC purchased a new position in Heron Therapeutics during the second quarter worth about $151,000. NewSquare Capital LLC purchased a new position in Heron Therapeutics during the second quarter worth about $211,000. Public Employees Retirement Association of Colorado purchased a new position in Heron Therapeutics during the third quarter worth about $224,000. Great West Life Assurance Co. Can boosted its holdings in Heron Therapeutics by 65.6% during the third quarter. Great West Life Assurance Co. Can now owns 7,611 shares of the biotechnology company’s stock worth $240,000 after purchasing an additional 3,016 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in Heron Therapeutics during the third quarter worth about $249,000.
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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