Heron Therapeutics (HRTX) Trading 11.8% Higher

Heron Therapeutics Inc (NASDAQ:HRTX) traded up 11.8% during trading on Thursday . The stock traded as high as $31.55 and last traded at $31.03. 1,273,997 shares were traded during mid-day trading, an increase of 9% from the average session volume of 1,167,448 shares. The stock had previously closed at $27.76.

A number of equities research analysts have recently issued reports on the company. Cantor Fitzgerald set a $50.00 price objective on Heron Therapeutics and gave the stock a “buy” rating in a research note on Tuesday. Zacks Investment Research upgraded Heron Therapeutics from a “sell” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Thursday, October 11th. BidaskClub cut Heron Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, September 22nd. Stifel Nicolaus assumed coverage on Heron Therapeutics in a research note on Thursday, September 13th. They set a “buy” rating and a $55.00 price objective on the stock. Finally, ValuEngine cut Heron Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, September 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $52.09.

The company has a market capitalization of $2.09 billion, a PE ratio of 8.50 and a beta of 1.59.

Heron Therapeutics (NASDAQ:HRTX) last announced its quarterly earnings data on Wednesday, August 8th. The biotechnology company reported ($0.54) earnings per share (EPS) for the quarter, topping 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 company had revenue of $17.28 million for the quarter, compared to analysts’ expectations of $12.82 million. During the same quarter in the prior year, the business posted ($0.80) EPS. The business’s revenue was up 103.1% compared to the same quarter last year. On average, equities research analysts expect that Heron Therapeutics Inc will post -2.19 earnings per share for the current year.

In related news, VP Kimberly Manhard sold 6,000 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 6,000 shares of the company’s stock, valued at approximately $192,420. The transaction was disclosed in a legal 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 business’s stock in a transaction that occurred 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 currently owned by insiders.

Several hedge funds have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System increased its holdings in shares of Heron Therapeutics by 15.1% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 29,214 shares of the biotechnology company’s stock worth $925,000 after acquiring an additional 3,834 shares during the last quarter. Public Employees Retirement Association of Colorado acquired a new position in shares of Heron Therapeutics during the 3rd quarter worth approximately $224,000. Oppenheimer & Co. Inc. increased its holdings in shares of Heron Therapeutics by 25.1% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 47,435 shares of the biotechnology company’s stock worth $1,501,000 after acquiring an additional 9,520 shares during the last quarter. Alps Advisors Inc. increased its holdings in shares of Heron Therapeutics by 32.6% during the 3rd quarter. Alps Advisors Inc. now owns 137,559 shares of the biotechnology company’s stock worth $4,354,000 after acquiring an additional 33,836 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in shares of Heron Therapeutics during the 3rd quarter worth approximately $249,000.

Heron Therapeutics Company Profile (NASDAQ:HRTX)

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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