Heron Therapeutics Inc. (HRTX) Downgraded to “Sell” at Zacks Investment Research
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 analysts have also recently commented on the company. Brean Capital assumed coverage on Heron Therapeutics in a research note on Tuesday. They issued a buy rating and a $41.00 target price for the company. Leerink Swann restated a buy rating and issued a $33.00 target price on shares of Heron Therapeutics in a research note on Sunday. Jefferies Group lowered their target price on Heron Therapeutics from $46.00 to $40.00 and set a buy rating for the company in a research note on Monday. JMP Securities reiterated a buy rating on shares of Heron Therapeutics in a research note on Friday, September 9th. Finally, Lake Street Capital reiterated a buy rating and set a $45.00 price objective on shares of Heron Therapeutics in a research note on Tuesday, September 6th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. Heron Therapeutics has an average rating of Buy and an average price target of $42.14.
Heron Therapeutics (NASDAQ:HRTX) opened at 17.20 on Wednesday. Heron Therapeutics has a 12 month low of $15.13 and a 12 month high of $31.32. The stock’s 50 day moving average price is $18.85 and its 200-day moving average price is $18.91.
Heron Therapeutics (NASDAQ:HRTX) last released its earnings results on Monday, August 8th. The biotechnology company reported ($1.17) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.96) by $0.21. On average, equities analysts predict that Heron Therapeutics will post ($4.44) earnings per share for the current year.
In other Heron Therapeutics news, insider Robert Rosen sold 100,000 shares of Heron Therapeutics stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $23.30, for a total value of $2,330,000.00. Following the completion of the sale, the insider now owns 102,640 shares of the company’s stock, valued at approximately $2,391,512. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 20.31% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. raised its stake in Heron Therapeutics by 28.2% in the first quarter. Franklin Resources Inc. now owns 7,523,278 shares of the biotechnology company’s stock worth $142,869,000 after buying an additional 1,653,008 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Heron Therapeutics by 6.0% in the first quarter. JPMorgan Chase & Co. now owns 348,685 shares of the biotechnology company’s stock worth $6,622,000 after buying an additional 19,737 shares during the last quarter. VHCP Management II LLC acquired a new stake in Heron Therapeutics during the first quarter worth approximately $7,708,000. Jacobs Levy Equity Management Inc. acquired a new stake in Heron Therapeutics during the first quarter worth approximately $734,000. Finally, Panagora Asset Management Inc. raised its stake in Heron Therapeutics by 90.3% in the first quarter. Panagora Asset Management Inc. now owns 245,392 shares of the biotechnology company’s stock worth $4,660,000 after buying an additional 116,461 shares during the last quarter.
About Heron Therapeutics
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Heron Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Heron Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.