Heron Therapeutics Inc. (NASDAQ:HRTX) shares traded down 9.3% during mid-day trading on Thursday . The company traded as low as $16.42 and last traded at $16.55, with a volume of 379,546 shares traded. The stock had previously closed at $18.25.

A number of research analysts recently issued reports on the company. Cowen and Company reiterated a “buy” rating on shares of Heron Therapeutics in a report on Saturday, July 9th. Cantor Fitzgerald assumed coverage on Heron Therapeutics in a report on Monday, May 2nd. They set a “buy” rating and a $41.00 price objective for the company. Brean Capital reiterated a “buy” rating and set a $55.00 price objective on shares of Heron Therapeutics in a report on Friday, May 6th. Jefferies Group reissued a “buy” rating on shares of Heron Therapeutics in a research report on Monday, April 18th. Finally, Leerink Swann reissued a “buy” rating on shares of Heron Therapeutics in a research report on Tuesday, April 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Heron Therapeutics has a consensus rating of “Buy” and a consensus target price of $50.30.

The company’s 50-day moving average is $17.54 and its 200 day moving average is $19.03.

Heron Therapeutics (NASDAQ:HRTX) last announced its earnings results on Thursday, May 5th. The biotechnology company reported ($0.92) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.92). On average, analysts expect that Heron Therapeutics Inc. will post ($3.59) EPS for the current fiscal year.

Several hedge funds and institutional investors have made changes to their positions in HRTX. California State Teachers Retirement System increased its position in shares of Heron Therapeutics by 1.9% in the fourth quarter. California State Teachers Retirement System now owns 54,211 shares of the biotechnology company’s stock worth $1,447,000 after buying an additional 1,000 shares in the last quarter. GAM Holding AG increased its position in shares of Heron Therapeutics by 28.9% in the fourth quarter. GAM Holding AG now owns 41,900 shares of the biotechnology company’s stock worth $1,119,000 after buying an additional 9,400 shares in the last quarter. Russell Frank Co increased its position in shares of Heron Therapeutics by 46.9% in the fourth quarter. Russell Frank Co now owns 48,830 shares of the biotechnology company’s stock worth $1,369,000 after buying an additional 15,585 shares in the last quarter. Turner Investments L.P. increased its position in shares of Heron Therapeutics by 19.7% in the fourth quarter. Turner Investments L.P. now owns 106,080 shares of the biotechnology company’s stock worth $2,832,000 after buying an additional 17,470 shares in the last quarter. Finally, Swiss National Bank acquired a new position in shares of Heron Therapeutics during the fourth quarter worth about $1,100,000.

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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