Heron Therapeutics (NASDAQ:HRTX)‘s stock had its “buy” rating reaffirmed by analysts at Cowen in a report released on Monday, March 19th.
The analysts wrote, “We are still waiting to speak with the company and have thus not yet updated our model and price target, but do not recommend buying on weakness.””
Several other equities research analysts have also weighed in on the stock. Oppenheimer set a $34.00 target price on shares of Heron Therapeutics and gave the stock a “buy” rating in a report on Monday, March 19th. Mizuho reissued a “buy” rating and set a $35.00 price objective (up previously from $28.00) on shares of Heron Therapeutics in a report on Monday, March 19th. Cantor Fitzgerald set a $40.00 price objective on shares of Heron Therapeutics and gave the stock a “buy” rating in a report on Monday, March 19th. ValuEngine downgraded shares of Heron Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, March 19th. Finally, BidaskClub downgraded shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, March 17th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $35.92.
Shares of HRTX opened at $29.10 on Monday. The company has a market cap of $1,913.52, a P/E ratio of 7.97 and a beta of 1.88. Heron Therapeutics has a 52 week low of $12.70 and a 52 week high of $32.70.
Heron Therapeutics (NASDAQ:HRTX) last posted its earnings results on Tuesday, February 27th. The biotechnology company reported ($1.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.80) by ($0.29). Heron Therapeutics had a negative net margin of 641.87% and a negative return on equity of 230.70%. The business had revenue of $10.05 million during the quarter, compared to analyst estimates of $9.00 million. equities analysts anticipate that Heron Therapeutics will post -2.5 EPS for the current fiscal year.
In related news, CEO Barry D. Quart sold 100,000 shares of the business’s stock in a transaction dated Monday, March 19th. The stock was sold at an average price of $29.75, for a total value of $2,975,000.00. Following the completion of the transaction, the chief executive officer now owns 167,993 shares of the company’s stock, valued at $4,997,791.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Kimberly Manhard sold 18,000 shares of the business’s stock in a transaction dated Monday, March 19th. The shares were sold at an average price of $30.00, for a total value of $540,000.00. Following the completion of the transaction, the vice president now directly owns 18,000 shares of the company’s stock, valued at approximately $540,000. The disclosure for this sale can be found here. Insiders sold 218,000 shares of company stock valued at $5,990,000 over the last three months. 19.93% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. J. Goldman & Co LP bought a new position in Heron Therapeutics in the fourth quarter valued at about $1,181,000. MetLife Investment Advisors LLC bought a new stake in shares of Heron Therapeutics during the fourth quarter worth about $399,000. Jane Street Group LLC grew its holdings in shares of Heron Therapeutics by 36.3% during the fourth quarter. Jane Street Group LLC now owns 18,806 shares of the biotechnology company’s stock worth $340,000 after purchasing an additional 5,006 shares during the last quarter. Crestline Management LP grew its holdings in shares of Heron Therapeutics by 190.2% during the fourth quarter. Crestline Management LP now owns 116,290 shares of the biotechnology company’s stock worth $2,105,000 after purchasing an additional 76,212 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new position in shares of Heron Therapeutics in the fourth quarter worth approximately $231,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.
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Heron Therapeutics Company Profile
Heron Therapeutics, Inc is a biotechnology company engaged in developing pharmaceutical products for patients suffering from cancer or pain. The Company’s product candidates include SUSTOL, HTX-019 and HTX-011. All of its product candidates utilize science and technology platforms, including its Biochronomer drug delivery technology.
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