Zacks Investment Research Downgrades Heron Therapeutics (NASDAQ:HRTX) to Sell

Zacks Investment Research downgraded shares of Heron Therapeutics (NASDAQ:HRTX) from a hold rating to a sell rating in a report released on Tuesday morning, Zacks.com reports.

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. “

Several other research analysts have also recently weighed in on HRTX. Evercore ISI restated a buy rating and set a $75.00 price target on shares of Heron Therapeutics in a report on Tuesday, August 13th. Northland Securities restated a buy rating and set a $55.00 price target on shares of Heron Therapeutics in a report on Monday, August 5th. Stifel Nicolaus restated a buy rating and set a $38.00 price target on shares of Heron Therapeutics in a report on Monday, August 5th. BidaskClub cut shares of Heron Therapeutics from a buy rating to a hold rating in a report on Thursday, September 26th. Finally, Cowen restated a buy rating and set a $40.00 price target on shares of Heron Therapeutics in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. Heron Therapeutics presently has an average rating of Buy and an average price target of $50.57.

Shares of NASDAQ HRTX opened at $17.90 on Tuesday. The stock has a market capitalization of $1.41 billion, a P/E ratio of -7.33 and a beta of 1.42. The company has a 50-day moving average price of $18.79 and a 200-day moving average price of $19.32. Heron Therapeutics has a 1 year low of $15.68 and a 1 year high of $31.81. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.01 and a quick ratio of 3.70.

Heron Therapeutics (NASDAQ:HRTX) last released its quarterly earnings results on Monday, August 5th. The biotechnology company reported ($0.63) earnings per share for the quarter, topping the consensus estimate of ($0.65) by $0.02. Heron Therapeutics had a negative net margin of 172.07% and a negative return on equity of 56.89%. The business had revenue of $36.66 million for the quarter, compared to analysts’ expectations of $31.04 million. As a group, equities research analysts anticipate that Heron Therapeutics will post -2.73 earnings per share for the current fiscal year.

In other Heron Therapeutics news, Director Kevin C. Tang purchased 285,714 shares of the stock in a transaction dated Friday, October 4th. The shares were bought at an average price of $17.50 per share, with a total value of $4,999,995.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Poyhonen purchased 5,143 shares of the stock in a transaction dated Thursday, October 3rd. The stock was acquired at an average cost of $17.50 per share, for a total transaction of $90,002.50. Following the transaction, the executive vice president now owns 18,143 shares of the company’s stock, valued at $317,502.50. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 295,428 shares of company stock worth $5,169,990. Corporate insiders own 12.56% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC raised its position in shares of Heron Therapeutics by 5.5% in the first quarter. FMR LLC now owns 8,473,847 shares of the biotechnology company’s stock valued at $207,101,000 after purchasing an additional 439,044 shares during the period. Vanguard Group Inc. raised its position in shares of Heron Therapeutics by 5.2% in the second quarter. Vanguard Group Inc. now owns 6,744,858 shares of the biotechnology company’s stock valued at $125,387,000 after purchasing an additional 330,351 shares during the period. BlackRock Inc. raised its position in shares of Heron Therapeutics by 0.9% in the second quarter. BlackRock Inc. now owns 4,901,392 shares of the biotechnology company’s stock valued at $91,116,000 after purchasing an additional 42,657 shares during the period. Clearbridge Investments LLC raised its position in shares of Heron Therapeutics by 153.4% in the first quarter. Clearbridge Investments LLC now owns 2,180,577 shares of the biotechnology company’s stock valued at $53,293,000 after purchasing an additional 1,320,025 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Heron Therapeutics by 60.2% in the second quarter. JPMorgan Chase & Co. now owns 1,425,517 shares of the biotechnology company’s stock valued at $26,274,000 after purchasing an additional 535,821 shares during the period.

Heron Therapeutics Company Profile

Heron Therapeutics, Inc, a biotechnology company, engages in developing treatments 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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