Heron Therapeutics (HRTX) Given “Buy” Rating at Northland Securities
“We note that this follow-up to P3 study complemented a previously reported study in hernia repair wherein 90% of patients receiving HTX-011 and an OTC analgesic did NOT require opioid pain management through 72 hours post-op, w/ 81% remaining opioid-free after 28 days post-op. We anticipate a clear path to approval for HTX-011 on or about its PDUFA action date of April 30, 2019, supported by the robust P3 registration trial data, which demonstrated HTX-011’s safety and efficacy. We believe HTX-011’s clinical differentiation from existing bupivacaine therapies positions HTX-011 to emerge as the standard of care for multiple surgical models, supporting peak sales potential >$1B.”,” the firm’s analyst commented.
Other research analysts have also recently issued research reports about the stock. Cantor Fitzgerald restated a buy rating and issued a $50.00 price objective on shares of Heron Therapeutics in a report on Monday, December 31st. Needham & Company LLC restated a buy rating and issued a $64.00 price objective (down previously from $66.00) on shares of Heron Therapeutics in a report on Wednesday, January 16th. ValuEngine upgraded shares of Heron Therapeutics from a hold rating to a buy rating in a report on Tuesday, January 8th. Stifel Nicolaus restated a buy rating and issued a $54.00 price objective on shares of Heron Therapeutics in a report on Friday, February 22nd. Finally, BidaskClub upgraded shares of Heron Therapeutics from a sell rating to a hold rating in a report on Friday, January 4th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $51.82.
Heron Therapeutics (NASDAQ:HRTX) last announced its quarterly earnings data on Friday, February 22nd. The biotechnology company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.17). The business had revenue of $28.84 million during the quarter, compared to analyst estimates of $28.05 million. Heron Therapeutics had a negative net margin of 230.84% and a negative return on equity of 54.98%. Equities research analysts anticipate that Heron Therapeutics will post -1.52 EPS for the current year.
A number of institutional investors have recently modified their holdings of HRTX. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Heron Therapeutics by 24.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,747 shares of the biotechnology company’s stock worth $123,000 after acquiring an additional 929 shares during the last quarter. Jefferies Group LLC purchased a new position in Heron Therapeutics in the third quarter worth approximately $202,000. Verition Fund Management LLC purchased a new position in Heron Therapeutics in the third quarter worth approximately $208,000. Stephens Inc. AR purchased a new position in Heron Therapeutics in the fourth quarter worth approximately $208,000. Finally, Pacer Advisors Inc. purchased a new position in Heron Therapeutics in the third quarter worth approximately $223,000.
Heron Therapeutics Company Profile
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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