Heron Therapeutics (HRTX) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research downgraded shares of Heron Therapeutics (NASDAQ:HRTX) from a buy rating to a hold rating in a research report released on Wednesday.

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. “

Several other research firms have also recently issued reports on HRTX. Cantor Fitzgerald set a $31.00 price target on Heron Therapeutics and gave the stock a buy rating in a research note on Friday, January 5th. ValuEngine raised Heron Therapeutics from a sell rating to a hold rating in a research note on Sunday, December 31st. Leerink Swann assumed coverage on Heron Therapeutics in a research note on Tuesday, January 2nd. They issued an outperform rating and a $22.00 price target for the company. BidaskClub raised Heron Therapeutics from a sell rating to a hold rating in a research note on Wednesday, December 20th. Finally, Noble Financial reissued a buy rating and issued a $24.00 price target on shares of Heron Therapeutics in a research note on Friday, October 6th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $28.82.

Heron Therapeutics (NASDAQ HRTX) opened at $21.40 on Wednesday. The company has a market capitalization of $1,170.00, a price-to-earnings ratio of -5.65 and a beta of 2.12. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.02 and a current ratio of 2.12. Heron Therapeutics has a 52 week low of $12.25 and a 52 week high of $22.00.

Heron Therapeutics (NASDAQ:HRTX) last released its quarterly earnings results on Monday, November 6th. The biotechnology company reported ($0.77) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.87) by $0.10. Heron Therapeutics had a negative return on equity of 385.11% and a negative net margin of 831.89%. The company had revenue of $8.57 million during the quarter, compared to analysts’ expectations of $8.12 million. analysts anticipate that Heron Therapeutics will post -3.38 earnings per share for the current year.

In related news, VP Kimberly Manhard sold 7,584 shares of the firm’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $20.00, for a total transaction of $151,680.00. Following the completion of the transaction, the vice president now owns 7,584 shares of the company’s stock, valued at $151,680. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 19.93% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC bought a new position in Heron Therapeutics during the second quarter valued at about $78,134,000. Virtu KCG Holdings LLC boosted its stake in Heron Therapeutics by 62.5% during the second quarter. Virtu KCG Holdings LLC now owns 25,053 shares of the biotechnology company’s stock valued at $347,000 after buying an additional 9,637 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Heron Therapeutics by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 204,857 shares of the biotechnology company’s stock valued at $2,837,000 after buying an additional 14,086 shares in the last quarter. C WorldWide Group Holding A S bought a new position in Heron Therapeutics during the third quarter valued at about $1,615,000. Finally, Alyeska Investment Group L.P. boosted its stake in Heron Therapeutics by 9.5% during the third quarter. Alyeska Investment Group L.P. now owns 754,657 shares of the biotechnology company’s stock valued at $12,188,000 after buying an additional 65,260 shares in the last quarter. 98.78% of the stock is owned by institutional investors and hedge funds.

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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.

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