Heron Therapeutics Inc. (NASDAQ:HRTX) shares dropped 5% during mid-day trading on Wednesday . The company traded as low as $18.25 and last traded at $18.25, with a volume of 230,221 shares trading hands. The stock had previously closed at $19.21.

HRTX has been the subject of a number of recent research reports. Brean Capital reiterated a “buy” rating and set a $55.00 price objective on shares of Heron Therapeutics in a research note on Friday, May 6th. Zacks Investment Research cut Heron Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. Jefferies Group reiterated a “buy” rating and set a $46.00 price objective on shares of Heron Therapeutics in a research note on Wednesday, July 27th. Cantor Fitzgerald reiterated a “buy” rating and set a $38.00 price objective on shares of Heron Therapeutics in a research note on Tuesday, August 9th. Finally, Leerink Swann reiterated a “buy” rating on shares of Heron Therapeutics in a research note on Monday, June 27th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $47.70.

The company has a 50 day moving average of $18.62 and a 200 day moving average of $18.85.

Heron Therapeutics (NASDAQ:HRTX) last issued its earnings results on Monday, August 8th. The biotechnology company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($0.96) by $0.21. Equities analysts predict that Heron Therapeutics Inc. will post ($4.39) EPS for the current fiscal year.

In other news, insider Robert Rosen sold 100,000 shares of the stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $23.30, for a total value of $2,330,000.00. Following the sale, the insider now directly owns 102,640 shares in the company, valued at $2,391,512. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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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