Heron Therapeutics (NASDAQ:HRTX) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Wednesday, March 27th, BidAskClub reports.
Several other analysts have also recently issued reports on the stock. Northland Securities reissued a “buy” rating on shares of Heron Therapeutics in a research report on Monday, March 11th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $50.00 target price on shares of Heron Therapeutics in a report on Monday, December 31st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $54.00 target price on shares of Heron Therapeutics in a report on Friday, February 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $64.00 target price (down previously from $66.00) on shares of Heron Therapeutics in a report on Wednesday, January 16th. Finally, ValuEngine cut shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. Heron Therapeutics has an average rating of “Buy” and an average price target of $52.80.
Shares of HRTX traded up $0.26 during mid-day trading on Wednesday, reaching $24.92. The stock had a trading volume of 801,677 shares, compared to its average volume of 887,968. The firm has a market capitalization of $1.93 billion, a P/E ratio of -10.21 and a beta of 1.55. Heron Therapeutics has a 52-week low of $21.25 and a 52-week high of $42.90.
Heron Therapeutics (NASDAQ:HRTX) last announced its earnings results on Friday, February 22nd. The biotechnology company reported ($0.63) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.46) by ($0.17). The company had revenue of $28.84 million for the quarter, compared to analysts’ expectations of $28.05 million. Heron Therapeutics had a negative return on equity of 54.98% and a negative net margin of 230.84%. As a group, equities analysts anticipate that Heron Therapeutics will post -1.52 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings 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 valued at $123,000 after acquiring an additional 929 shares during the period. Jefferies Group LLC acquired a new stake in Heron Therapeutics in the third quarter valued at $202,000. Verition Fund Management LLC acquired a new stake in Heron Therapeutics in the third quarter valued at $208,000. Pacer Advisors Inc. acquired a new stake in Heron Therapeutics in the third quarter valued at $223,000. Finally, Great West Life Assurance Co. Can lifted its holdings in Heron Therapeutics by 65.6% in the third quarter. Great West Life Assurance Co. Can now owns 7,611 shares of the biotechnology company’s stock valued at $240,000 after acquiring an additional 3,016 shares during the period.
Heron Therapeutics Company Profile
Heron Therapeutics, Inc, a biotechnology company, engages in developing treatments 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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