Heron Therapeutics (HRTX) Lowered to Sell at Zacks Investment Research

Heron Therapeutics (NASDAQ:HRTX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued 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. “

Other equities analysts have also issued reports about the company. Cantor Fitzgerald restated a “buy” rating and set a $50.00 price target on shares of Heron Therapeutics in a research report on Monday, December 31st. Stifel Nicolaus initiated coverage on Heron Therapeutics in a research report on Thursday, September 13th. They set a “buy” rating and a $55.00 price target on the stock. ValuEngine upgraded Heron Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, BidaskClub upgraded Heron Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, January 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $52.09.

HRTX traded up $0.07 on Wednesday, hitting $26.07. 22,859 shares of the company were exchanged, compared to its average volume of 942,649. Heron Therapeutics has a 12 month low of $19.55 and a 12 month high of $42.90. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 7.14 and a beta of 1.49.

Heron Therapeutics (NASDAQ:HRTX) last posted its quarterly earnings results on Wednesday, November 7th. The biotechnology company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.05). Heron Therapeutics had a negative return on equity of 72.23% and a negative net margin of 326.79%. The company had revenue of $19.79 million for the quarter, compared to the consensus estimate of $19.84 million. During the same quarter in the previous year, the business earned ($0.77) earnings per share. Heron Therapeutics’s revenue was up 130.9% compared to the same quarter last year. On average, equities research analysts anticipate that Heron Therapeutics will post -2.29 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the company. FMR LLC grew its position in shares of Heron Therapeutics by 6.5% in the 2nd quarter. FMR LLC now owns 11,290,956 shares of the biotechnology company’s stock worth $438,654,000 after buying an additional 693,699 shares during the last quarter. Castleark Management LLC boosted its position in shares of Heron Therapeutics by 237.5% during the second quarter. Castleark Management LLC now owns 201,080 shares of the biotechnology company’s stock valued at $7,812,000 after purchasing an additional 141,505 shares in the last quarter. Orbimed Advisors LLC boosted its position in shares of Heron Therapeutics by 15.4% during the second quarter. Orbimed Advisors LLC now owns 1,315,100 shares of the biotechnology company’s stock valued at $51,092,000 after purchasing an additional 175,300 shares in the last quarter. Northern Trust Corp boosted its position in shares of Heron Therapeutics by 21.4% during the second quarter. Northern Trust Corp now owns 762,315 shares of the biotechnology company’s stock valued at $29,616,000 after purchasing an additional 134,247 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Heron Therapeutics by 21.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 328,981 shares of the biotechnology company’s stock valued at $12,781,000 after purchasing an additional 58,965 shares in the last quarter.

About Heron Therapeutics

Heron Therapeutics, Inc, a biotechnology company, engages in developing medicines to address unmet medical needs. The company's product candidates utilize its proprietary Biochronomer drug delivery technology, which delivers therapeutic levels of a range of short-acting pharmacological agents over a period from days to weeks with a single administration.

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