Mizuho reissued their buy rating on shares of Heron Therapeutics (NASDAQ:HRTX) in a research note released on Friday morning. They currently have a $41.00 price target on the biotechnology company’s stock.
“We expect HTX-011 to receive broad label and we see potential for a quicker review process by the FDA for a mid-2019 approval. We reiterate our Buy rating and raise our PT to $41.”,” the firm’s analyst wrote.
Other analysts have also 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 report on Thursday, May 10th. BidaskClub lowered Heron Therapeutics from a buy rating to a hold rating in a report on Saturday, March 17th. Needham & Company LLC restated a buy rating and issued a $30.00 price target (up from $28.00) on shares of Heron Therapeutics in a report on Thursday, March 1st. ValuEngine upgraded Heron Therapeutics from a sell rating to a hold rating in a report on Tuesday, March 13th. Finally, Cowen restated a buy rating and issued a $54.00 price target on shares of Heron Therapeutics in a report on Thursday, June 21st. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and a consensus target price of $42.38.
Shares of Heron Therapeutics opened at $41.45 on Friday, Marketbeat reports. The stock has a market capitalization of $2.98 billion, a PE ratio of 11.36 and a beta of 1.87. Heron Therapeutics has a one year low of $12.70 and a one year high of $42.90.
Heron Therapeutics (NASDAQ:HRTX) last issued its quarterly earnings results on Thursday, May 10th. The biotechnology company reported ($0.81) EPS for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.06. The company had revenue of $11.60 million for the quarter, compared to analyst estimates 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 for the quarter was up 222.2% on a year-over-year basis. sell-side analysts anticipate that Heron Therapeutics will post -2.38 EPS for the current year.
In related news, Director Kevin C. Tang bought 192,308 shares of the company’s stock in a transaction that occurred on Thursday, March 29th. The shares were acquired at an average price of $26.00 per share, for a total transaction of $5,000,008.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Barry D. Quart sold 50,000 shares of the company’s stock in a transaction dated Thursday, June 21st. The stock was sold at an average price of $39.05, for a total value of $1,952,500.00. Following the sale, the chief executive officer now owns 69,600 shares in the company, valued at approximately $2,717,880. The disclosure for this sale can be found here. Corporate insiders own 16.20% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA raised its holdings in Heron Therapeutics by 18.6% during the first quarter. BNP Paribas Arbitrage SA now owns 11,229 shares of the biotechnology company’s stock worth $310,000 after acquiring an additional 1,761 shares in the last quarter. Swiss National Bank raised its holdings in Heron Therapeutics by 1.8% during the first quarter. Swiss National Bank now owns 100,300 shares of the biotechnology company’s stock worth $2,768,000 after acquiring an additional 1,800 shares in the last quarter. Jane Street Group LLC raised its stake in Heron Therapeutics by 10.7% in the first quarter. Jane Street Group LLC now owns 20,811 shares of the biotechnology company’s stock valued at $574,000 after buying an additional 2,005 shares during the period. State Board of Administration of Florida Retirement System raised its stake in Heron Therapeutics by 12.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 19,010 shares of the biotechnology company’s stock valued at $525,000 after buying an additional 2,131 shares during the period. Finally, Geode Capital Management LLC raised its stake in Heron Therapeutics by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 397,456 shares of the biotechnology company’s stock valued at $7,193,000 after buying an additional 2,410 shares during the period.
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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