Heron Therapeutics (HRTX) Sees Large Volume Increase on Analyst Upgrade

Heron Therapeutics Inc (NASDAQ:HRTX) saw an uptick in trading volume on Friday after Oppenheimer raised their price target on the stock from $34.00 to $50.00. Oppenheimer currently has an outperform rating on the stock. 4,561,371 shares traded hands during mid-day trading, an increase of 333% from the previous session’s volume of 1,054,181 shares.The stock last traded at $41.35 and had previously closed at $39.95.

Other analysts also recently issued reports about the company. Cantor Fitzgerald set a $40.00 price target on Heron Therapeutics and gave the company a “buy” rating in a research note on Thursday, May 10th. Mizuho restated a “buy” rating and issued a $41.00 price target on shares of Heron Therapeutics in a research note on Friday. Leerink Swann lifted their price objective on Heron Therapeutics to $46.00 and gave the stock an “outperform” rating in a report on Friday. BidaskClub cut Heron Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, March 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 price objective (up from $28.00) on shares of Heron Therapeutics in a report on Thursday, March 1st. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $42.38.

In other news, Director Kevin C. Tang acquired 192,308 shares of Heron Therapeutics stock in a transaction that occurred on Thursday, March 29th. The stock was purchased at an average cost of $26.00 per share, with a total value of $5,000,008.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 16.20% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Eagle Asset Management Inc. acquired a new position in shares of Heron Therapeutics in the first quarter worth $50,005,000. Carillon Tower Advisers Inc. acquired a new position in shares of Heron Therapeutics in the first quarter worth $33,651,000. BlackRock Inc. raised its holdings in shares of Heron Therapeutics by 18.0% in the first quarter. BlackRock Inc. now owns 3,512,721 shares of the biotechnology company’s stock worth $96,952,000 after acquiring an additional 535,285 shares during the last quarter. Nexthera Capital LP acquired a new position in shares of Heron Therapeutics in the first quarter worth $11,288,000. Finally, Rock Springs Capital Management LP acquired a new position in shares of Heron Therapeutics in the fourth quarter worth $4,525,000.

The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 11.33 and a beta of 1.87.

Heron Therapeutics (NASDAQ:HRTX) last released its quarterly earnings results on Thursday, May 10th. The biotechnology company reported ($0.81) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.87) by $0.06. Heron Therapeutics had a negative return on equity of 239.94% and a negative net margin of 515.27%. The company had revenue of $11.60 million during the quarter, compared to analysts’ expectations of $11.10 million. Heron Therapeutics’s revenue for the quarter was up 222.2% on a year-over-year basis. equities research analysts predict that Heron Therapeutics Inc will post -2.38 EPS for the current fiscal year.

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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