HC Wainwright Reiterates Buy Rating for Heron Therapeutics (NASDAQ:HRTX)

Heron Therapeutics (NASDAQ:HRTX)‘s stock had its “buy” rating restated by HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $6.00 price target on the biotechnology company’s stock. HC Wainwright’s target price suggests a potential upside of 301.34% from the stock’s previous close.

Other analysts have also issued reports about the company. Jefferies Financial Group reissued a “buy” rating on shares of Heron Therapeutics in a research note on Tuesday, November 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Heron Therapeutics in a report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Heron Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 7th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $4.50.

Heron Therapeutics Trading Up 17.7%

Shares of NASDAQ HRTX traded up $0.23 during midday trading on Friday, reaching $1.50. 3,432,593 shares of the stock were exchanged, compared to its average volume of 1,860,248. The stock has a 50 day moving average price of $1.22 and a 200-day moving average price of $1.43. The company has a current ratio of 2.56, a quick ratio of 1.78 and a debt-to-equity ratio of 19.89. The company has a market capitalization of $274.12 million, a P/E ratio of -16.56 and a beta of 1.28. Heron Therapeutics has a 52-week low of $1.00 and a 52-week high of $2.68.

Heron Therapeutics (NASDAQ:HRTX) last announced its earnings results on Tuesday, November 4th. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The company had revenue of $38.21 million for the quarter, compared to analysts’ expectations of $39.03 million. Equities research analysts expect that Heron Therapeutics will post -0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Heron Therapeutics

Several large investors have recently made changes to their positions in the business. ProShare Advisors LLC raised its holdings in shares of Heron Therapeutics by 23.4% during the second quarter. ProShare Advisors LLC now owns 31,368 shares of the biotechnology company’s stock valued at $65,000 after buying an additional 5,953 shares during the last quarter. Palumbo Wealth Management LLC increased its position in shares of Heron Therapeutics by 6.7% during the 2nd quarter. Palumbo Wealth Management LLC now owns 132,433 shares of the biotechnology company’s stock valued at $274,000 after purchasing an additional 8,330 shares during the period. Richmond Brothers Inc. lifted its holdings in Heron Therapeutics by 1.8% in the 2nd quarter. Richmond Brothers Inc. now owns 554,469 shares of the biotechnology company’s stock valued at $1,148,000 after acquiring an additional 9,568 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Heron Therapeutics by 5.1% during the second quarter. The Manufacturers Life Insurance Company now owns 241,048 shares of the biotechnology company’s stock valued at $499,000 after purchasing an additional 11,716 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new position in Heron Therapeutics in the 2nd quarter worth about $26,000. Institutional investors and hedge funds own 80.01% of the company’s stock.

Heron Therapeutics Company Profile

Heron Therapeutics, Inc is a commercial-stage biotechnology company focused on developing and commercializing therapies in pain management and supportive care for patients undergoing medical and surgical procedures. The company’s research is dedicated to addressing unmet needs in oncology supportive care and post-operative pain management through innovative drug formulations designed to improve patient outcomes and reduce reliance on opioids.

Heron’s first approved therapy, SUSTOL (granisetron) extended-release injection, received U.S.