Cantor Fitzgerald Reiterates “Buy” Rating for Heron Therapeutics, Inc. (HRTX)

Cantor Fitzgerald restated their buy rating on shares of Heron Therapeutics, Inc. (NASDAQ:HRTX) in a research report sent to investors on Thursday, May 11th. The brokerage currently has a $31.00 target price on the biotechnology company’s stock, up from their previous target price of $30.00.

“Expensive 1Q: HRTX reported 1Q17 EPS of ($1.00), below our estimated ($0.83). The difference is mainly attributed to higher than expected R&D spend, though we believe that should taper off through the year, providing some flexibility in cash runway. HRTX finished the quarter with $165M in cash.”,” Cantor Fitzgerald’s analyst wrote.

HRTX has been the subject of several other reports. Zacks Investment Research cut Heron Therapeutics from a hold rating to a strong sell rating in a research report on Tuesday, May 9th. Jefferies Group LLC restated a buy rating and issued a $29.00 price objective on shares of Heron Therapeutics in a research note on Monday, April 10th. Needham & Company LLC assumed coverage on Heron Therapeutics in a research note on Monday, February 27th. They issued a buy rating and a $28.00 price objective on the stock. Finally, Aegis restated a buy rating on shares of Heron Therapeutics in a research note on Tuesday, March 21st. One research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $34.50.

Heron Therapeutics (NASDAQ HRTX) traded up 1.44% during mid-day trading on Thursday, reaching $14.10. 747,384 shares of the company were exchanged. The stock’s 50-day moving average is $14.35 and its 200-day moving average is $14.14. Heron Therapeutics has a 12 month low of $12.21 and a 12 month high of $24.00.

Heron Therapeutics (NASDAQ:HRTX) last issued its quarterly earnings results on Wednesday, May 10th. The biotechnology company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.94) by $0.06. The company had revenue of $3.63 million during the quarter, compared to analysts’ expectations of $1.96 million. Analysts predict that Heron Therapeutics will post ($3.70) earnings per share for the current fiscal year.

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In other Heron Therapeutics news, VP Kimberly Manhard sold 21,542 shares of the firm’s stock in a transaction on Monday, April 24th. The stock was sold at an average price of $15.33, for a total value of $330,238.86. Following the sale, the vice president now owns 5,250 shares of the company’s stock, valued at approximately $80,482.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 20.31% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its stake in Heron Therapeutics by 20.0% in the third quarter. Wells Fargo & Company MN now owns 11,167 shares of the biotechnology company’s stock valued at $192,000 after buying an additional 1,858 shares during the period. Partner Investment Management L.P. increased its stake in Heron Therapeutics by 16.5% in the third quarter. Partner Investment Management L.P. now owns 56,258 shares of the biotechnology company’s stock valued at $969,000 after buying an additional 7,979 shares during the period. Baker BROS. Advisors LP purchased a new stake in Heron Therapeutics during the third quarter valued at $49,230,000. Lombard Odier Asset Management USA Corp purchased a new stake in Heron Therapeutics during the third quarter valued at $3,015,000. Finally, RTW Investments LLC purchased a new stake in Heron Therapeutics during the third quarter valued at $6,664,000.

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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