Heron Therapeutics (HRTX) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Heron Therapeutics (NASDAQ:HRTX) from a hold rating to a sell rating in a report released on Wednesday.

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. “

A number of other research firms have also recently commented on HRTX. Cantor Fitzgerald upped their price objective on Heron Therapeutics from $40.00 to $50.00 and gave the company an overweight rating in a report on Thursday, July 19th. Oppenheimer upped their price objective on Heron Therapeutics from $34.00 to $50.00 and gave the company an outperform rating in a report on Friday, June 22nd. Evercore ISI upped their price objective on Heron Therapeutics from $56.00 to $80.00 and gave the company an outperform rating in a report on Thursday, June 21st. BidaskClub cut Heron Therapeutics from a hold rating to a sell rating in a report on Saturday, September 22nd. Finally, Mizuho restated a buy rating and set a $41.00 price target on shares of Heron Therapeutics in a research note on Friday, June 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $52.09.

HRTX traded up $0.41 during trading hours on Wednesday, reaching $29.41. The company’s stock had a trading volume of 602,206 shares, compared to its average volume of 1,178,604. Heron Therapeutics has a fifty-two week low of $14.40 and a fifty-two week high of $42.90. The stock has a market capitalization of $2.46 billion, a PE ratio of 8.06 and a beta of 1.59.

Heron Therapeutics (NASDAQ:HRTX) last released its quarterly earnings data on Wednesday, August 8th. The biotechnology company reported ($0.54) EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.14. Heron Therapeutics had a negative return on equity of 112.35% and a negative net margin of 411.41%. The firm had revenue of $17.28 million for the quarter, compared to analysts’ expectations of $12.82 million. During the same period in the prior year, the firm posted ($0.80) earnings per share. The firm’s quarterly revenue was up 103.1% on a year-over-year basis. As a group, equities analysts predict that Heron Therapeutics will post -2.2 earnings per share for the current year.

In other news, VP Kimberly Manhard sold 6,000 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $32.07, for a total transaction of $192,420.00. Following the sale, the vice president now owns 6,000 shares of the company’s stock, valued at $192,420. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kevin C. Tang sold 2,695,000 shares of the company’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $35.75, for a total value of $96,346,250.00. The disclosure for this sale can be found here. 16.20% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of HRTX. MYDA Advisors LLC purchased a new position in shares of Heron Therapeutics during the second quarter worth about $354,000. FMR LLC boosted its stake in shares of Heron Therapeutics by 6.5% during the second quarter. FMR LLC now owns 11,290,956 shares of the biotechnology company’s stock worth $438,654,000 after buying an additional 693,699 shares during the period. Castleark Management LLC boosted its stake in shares of Heron Therapeutics by 237.5% during the second quarter. Castleark Management LLC now owns 201,080 shares of the biotechnology company’s stock worth $7,812,000 after buying an additional 141,505 shares during the period. Orbimed Advisors LLC boosted its stake in shares of Heron Therapeutics by 15.4% during the second quarter. Orbimed Advisors LLC now owns 1,315,100 shares of the biotechnology company’s stock worth $51,092,000 after buying an additional 175,300 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Heron Therapeutics by 21.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 328,981 shares of the biotechnology company’s stock worth $12,781,000 after buying an additional 58,965 shares during the period.

About Heron Therapeutics

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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