Shares of Heron Therapeutics Inc. (NASDAQ:HRTX) dropped 2.2% during trading on Thursday . The company traded as low as $18.86 and last traded at $19.01, with a volume of 270,451 shares. The stock had previously closed at $19.43.

HRTX has been the topic of a number of research analyst reports. Brean Capital reiterated a “buy” rating on shares of Heron Therapeutics in a research report on Monday, April 18th. Leerink Swann reiterated a “buy” rating on shares of Heron Therapeutics in a research report on Tuesday, April 19th. Zacks Investment Research cut Heron Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday. Cantor Fitzgerald reissued a “buy” rating on shares of Heron Therapeutics in a report on Sunday, May 8th. Finally, Cowen and Company reissued a “buy” rating and set a $47.00 price target on shares of Heron Therapeutics in a report on Sunday, April 17th. One equities research analyst has rated the stock with a sell rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Heron Therapeutics currently has a consensus rating of “Buy” and an average price target of $50.30.

The firm’s 50 day moving average price is $17.56 and its 200 day moving average price is $18.90.

Heron Therapeutics (NASDAQ:HRTX) last issued its quarterly earnings results on Thursday, May 5th. The biotechnology company reported ($0.92) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.92). On average, equities research analysts anticipate that Heron Therapeutics Inc. will post ($3.73) earnings per share for the current fiscal year.

A number of large investors recently added to or reduced their stakes in HRTX. Russell Frank Co increased its stake in 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 during the last quarter. GAM Holding AG increased its stake in 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 during the last quarter. Bank of Montreal Can bought a new stake in Heron Therapeutics during the fourth quarter worth about $3,010,000. California Public Employees Retirement System increased its stake in Heron Therapeutics by 863.8% in the fourth quarter. California Public Employees Retirement System now owns 90,600 shares of the biotechnology company’s stock worth $2,419,000 after buying an additional 81,200 shares during the last quarter. Finally, California State Teachers Retirement System increased its stake in 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 during the last quarter.

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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