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 equities research analysts have also issued reports on HRTX. Cowen and Company restated a buy rating on shares of Heron Therapeutics in a research note on Saturday, July 9th. Leerink Swann restated a buy rating and issued a $33.00 target price on shares of Heron Therapeutics in a research note on Sunday, October 2nd. JMP Securities restated a buy rating on shares of Heron Therapeutics in a research note on Friday, September 9th. Brean Capital initiated coverage on shares of Heron Therapeutics in a research report on Tuesday, October 4th. They set a buy rating and a $41.00 price objective for the company. Finally, Jefferies Group lowered their price objective on shares of Heron Therapeutics from $46.00 to $40.00 and set a buy rating for the company in a research report on Monday, October 3rd. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $42.29.
Shares of Heron Therapeutics (NASDAQ:HRTX) opened at 15.40 on Tuesday. Heron Therapeutics has a 12 month low of $14.75 and a 12 month high of $31.32. The company has a 50-day moving average of $17.83 and a 200-day moving average of $18.80.
Heron Therapeutics (NASDAQ:HRTX) last issued its earnings results on Monday, August 8th. The biotechnology company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.96) by $0.21. On average, equities research analysts forecast that Heron Therapeutics will post ($4.39) earnings per share for the current fiscal year.
In related 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 transaction of $2,330,000.00. Following the completion of the sale, the insider now directly owns 102,640 shares of the company’s stock, valued at $2,391,512. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 20.31% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Group LTD raised its stake in Heron Therapeutics by 9.0% in the second quarter. BlackRock Group LTD now owns 10,816 shares of the biotechnology company’s stock valued at $195,000 after buying an additional 897 shares in the last quarter. Parametric Portfolio Associates LLC purchased a new stake in shares of Heron Therapeutics during the second quarter valued at approximately $213,000. BlackRock Advisors LLC increased its stake in shares of Heron Therapeutics by 13.3% in the second quarter. BlackRock Advisors LLC now owns 15,104 shares of the biotechnology company’s stock valued at $273,000 after buying an additional 1,769 shares during the period. State Board of Administration of Florida Retirement System increased its stake in shares of Heron Therapeutics by 8.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 16,739 shares of the biotechnology company’s stock valued at $302,000 after buying an additional 1,283 shares during the period. Finally, American International Group Inc. increased its stake in shares of Heron Therapeutics by 8.1% in the second quarter. American International Group Inc. now owns 18,293 shares of the biotechnology company’s stock valued at $330,000 after buying an additional 1,369 shares during the period.
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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