Zacks Investment Research upgraded shares of Heron Therapeutics (NASDAQ:HRTX) from a hold rating to a buy rating in a research note published on Friday morning, Zacks.com reports. Zacks Investment Research currently has $23.00 price objective on the biotechnology company’s stock.
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 have also issued research reports about the company. ValuEngine raised Heron Therapeutics from a sell rating to a hold rating in a report on Thursday, August 1st. Stifel Nicolaus reaffirmed a buy rating and set a $38.00 target price on shares of Heron Therapeutics in a report on Monday, August 5th. BidaskClub lowered Heron Therapeutics from a buy rating to a hold rating in a report on Tuesday. Svb Leerink reaffirmed an outperform rating on shares of Heron Therapeutics in a report on Tuesday. Finally, Northland Securities reaffirmed a buy rating and set a $47.00 target price on shares of Heron Therapeutics in a report on Wednesday. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Heron Therapeutics presently has an average rating of Buy and a consensus price target of $46.13.
NASDAQ:HRTX traded up $0.74 during trading hours on Friday, hitting $21.58. 1,179,000 shares of the company traded hands, compared to its average volume of 880,605. The company has a quick ratio of 3.70, a current ratio of 3.76 and a debt-to-equity ratio of 0.04. The company has a market cap of $1.81 billion, a PE ratio of -8.84 and a beta of 1.44. Heron Therapeutics has a one year low of $15.68 and a one year high of $29.49. The firm’s 50-day simple moving average is $19.52 and its 200-day simple moving average is $18.57.
Heron Therapeutics (NASDAQ:HRTX) last posted its earnings results on Tuesday, November 12th. The biotechnology company reported ($0.42) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.57) by $0.15. The business had revenue of $42.62 million during the quarter, compared to analyst estimates of $34.02 million. Heron Therapeutics had a negative return on equity of 60.76% and a negative net margin of 140.55%. The company’s quarterly revenue was up 115.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.49) EPS. As a group, equities research analysts expect that Heron Therapeutics will post -2.47 EPS for the current year.
In other Heron Therapeutics news, CEO Barry D. Quart acquired 4,571 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was bought at an average price of $17.50 per share, with a total value of $79,992.50. Following the completion of the acquisition, the chief executive officer now owns 90,081 shares of the company’s stock, valued at $1,576,417.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John Poyhonen acquired 5,143 shares of the business’s stock in a transaction dated Thursday, October 3rd. The shares were acquired at an average cost of $17.50 per share, with a total value of $90,002.50. Following the acquisition, the executive vice president now directly owns 18,143 shares of the company’s stock, valued at approximately $317,502.50. The disclosure for this purchase can be found here. Insiders have bought 306,533 shares of company stock valued at $5,421,185 in the last three months. 12.56% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in shares of Heron Therapeutics by 60.2% during the second quarter. JPMorgan Chase & Co. now owns 1,425,517 shares of the biotechnology company’s stock worth $26,274,000 after purchasing an additional 535,821 shares in the last quarter. Cutter & CO Brokerage Inc. purchased a new position in shares of Heron Therapeutics during the second quarter worth about $392,000. Mesirow Financial Investment Management Inc. grew its holdings in shares of Heron Therapeutics by 23.3% during the second quarter. Mesirow Financial Investment Management Inc. now owns 24,112 shares of the biotechnology company’s stock worth $430,000 after purchasing an additional 4,559 shares in the last quarter. Fosun International Ltd grew its holdings in shares of Heron Therapeutics by 161.7% during the second quarter. Fosun International Ltd now owns 171,557 shares of the biotechnology company’s stock worth $3,162,000 after purchasing an additional 106,000 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Heron Therapeutics by 1.2% during the second quarter. Northern Trust Corp now owns 851,035 shares of the biotechnology company’s stock worth $15,820,000 after purchasing an additional 9,963 shares in the last quarter.
About Heron Therapeutics
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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