Cantor Fitzgerald set a $40.00 target price on Heron Therapeutics (NASDAQ:HRTX) in a report issued on Thursday. The firm currently has a buy rating on the biotechnology company’s stock. Cantor Fitzgerald also issued estimates for Heron Therapeutics’ FY2018 earnings at ($2.07) EPS.
Several other brokerages have also recently issued reports on HRTX. Lake Street Capital set a $42.00 target price on Heron Therapeutics and gave the company a buy rating in a report on Thursday, April 5th. Noble Financial restated a buy rating on shares of Heron Therapeutics in a report on Wednesday, March 21st. BidaskClub cut Heron Therapeutics from a buy rating to a hold rating in a report on Wednesday, January 31st. Cowen restated a buy rating on shares of Heron Therapeutics in a report on Monday, March 19th. Finally, ValuEngine upgraded Heron Therapeutics from a sell rating to a hold rating in a report on Tuesday, March 13th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $36.54.
Shares of HRTX opened at $30.90 on Thursday. Heron Therapeutics has a one year low of $12.70 and a one year high of $34.00. The company has a market cap of $2.23 billion, a P/E ratio of 8.47 and a beta of 1.88.
Heron Therapeutics (NASDAQ:HRTX) last issued its earnings results on Thursday, May 10th. The biotechnology company reported ($0.81) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.87) by $0.06. The company had revenue of $11.60 million during the quarter, compared to analysts’ expectations of $11.10 million. Heron Therapeutics had a negative return on equity of 239.94% and a negative net margin of 515.27%. Heron Therapeutics’s revenue was up 222.2% on a year-over-year basis. analysts predict that Heron Therapeutics will post -2.38 EPS for the current fiscal year.
In other news, VP Kimberly Manhard sold 18,000 shares of the company’s stock in a transaction on Monday, March 19th. The stock was sold at an average price of $30.00, for a total value of $540,000.00. Following the transaction, the vice president now owns 18,000 shares of the company’s stock, valued at approximately $540,000. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Barry D. Quart sold 100,000 shares of the company’s stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $24.75, for a total value of $2,475,000.00. Following the completion of the transaction, the chief executive officer now directly owns 167,993 shares in the company, valued at approximately $4,157,826.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 218,000 shares of company stock worth $5,990,000. Corporate insiders own 19.93% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Xact Kapitalforvaltning AB acquired a new position in shares of Heron Therapeutics in the 1st quarter valued at $295,000. Nexthera Capital LP acquired a new position in Heron Therapeutics during the 1st quarter worth about $11,288,000. Tang Capital Management LLC lifted its stake in Heron Therapeutics by 2.1% during the 1st quarter. Tang Capital Management LLC now owns 8,648,252 shares of the biotechnology company’s stock worth $238,692,000 after acquiring an additional 181,875 shares in the last quarter. First Light Asset Management LLC lifted its stake in Heron Therapeutics by 14.4% during the 1st quarter. First Light Asset Management LLC now owns 473,275 shares of the biotechnology company’s stock worth $13,062,000 after acquiring an additional 59,554 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in Heron Therapeutics by 15.5% during the 1st quarter. California State Teachers Retirement System now owns 82,695 shares of the biotechnology company’s stock worth $2,282,000 after acquiring an additional 11,082 shares in the last quarter.
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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