Zacks Investment Research downgraded shares of Heron Therapeutics (NASDAQ:HRTX) from a buy rating to a hold rating in a report issued on Wednesday, January 10th.
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 equities analysts have also weighed in on HRTX. Cantor Fitzgerald reissued a buy rating on shares of Heron Therapeutics in a research note on Monday, September 25th. Mizuho started coverage on Heron Therapeutics in a report on Tuesday, September 26th. They issued a buy rating and a $28.00 price target for the company. Northland Securities started coverage on Heron Therapeutics in a report on Wednesday, September 27th. They issued an outperform rating and a $40.00 price target for the company. Noble Financial restated a buy rating and issued a $24.00 price target on shares of Heron Therapeutics in a report on Friday, October 6th. Finally, Oppenheimer assumed coverage on Heron Therapeutics in a report on Monday, October 30th. They issued a buy rating and a $27.00 price target for the company. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $28.82.
Shares of Heron Therapeutics (NASDAQ HRTX) traded up $0.25 during mid-day trading on Wednesday, hitting $21.90. The stock had a trading volume of 811,423 shares, compared to its average volume of 1,115,869. The company has a quick ratio of 2.02, a current ratio of 2.12 and a debt-to-equity ratio of 0.62. Heron Therapeutics has a 12 month low of $12.70 and a 12 month high of $24.80. The company has a market capitalization of $1,190.00, a PE ratio of -5.78 and a beta of 2.12.
Heron Therapeutics (NASDAQ:HRTX) last issued its quarterly earnings results on Monday, November 6th. The biotechnology company reported ($0.77) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.87) by $0.10. Heron Therapeutics had a negative return on equity of 385.11% and a negative net margin of 831.89%. The business had revenue of $8.57 million for the quarter, compared to analyst estimates of $8.12 million. equities research analysts forecast that Heron Therapeutics will post -3.37 earnings per share for the current year.
In other news, VP Kimberly Manhard sold 7,584 shares of the firm’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $20.00, for a total value of $151,680.00. Following the completion of the sale, the vice president now directly owns 7,584 shares of the company’s stock, valued at $151,680. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 19.93% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its position in shares of Heron Therapeutics by 2.2% in the third quarter. Janus Henderson Group PLC now owns 5,767,495 shares of the biotechnology company’s stock valued at $93,145,000 after buying an additional 126,039 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Heron Therapeutics by 11.8% in the second quarter. Vanguard Group Inc. now owns 2,096,465 shares of the biotechnology company’s stock valued at $29,036,000 after buying an additional 221,362 shares during the last quarter. Rubric Capital Management LP lifted its position in shares of Heron Therapeutics by 11.8% in the third quarter. Rubric Capital Management LP now owns 1,900,000 shares of the biotechnology company’s stock valued at $30,685,000 after buying an additional 200,000 shares during the last quarter. Balyasny Asset Management LLC lifted its position in shares of Heron Therapeutics by 2.1% in the second quarter. Balyasny Asset Management LLC now owns 1,221,403 shares of the biotechnology company’s stock valued at $16,916,000 after buying an additional 24,688 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its holdings in Heron Therapeutics by 9.5% during the 3rd quarter. Alyeska Investment Group L.P. now owns 754,657 shares of the biotechnology company’s stock worth $12,188,000 after purchasing an additional 65,260 shares during the last quarter. 98.34% of the stock is owned by institutional investors.
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About Heron Therapeutics
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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