Heron Therapeutics (HRTX) Trading 7.5% Higher

Shares of Heron Therapeutics Inc (NASDAQ:HRTX) traded up 7.5% during mid-day trading on Wednesday . The company traded as high as $28.42 and last traded at $28.41. 863,107 shares changed hands during trading, a decline of 25% from the average session volume of 1,156,350 shares. The stock had previously closed at $26.43.

A number of analysts recently issued reports on the company. Zacks Investment Research cut Heron Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, November 13th. BidaskClub cut Heron Therapeutics from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 13th. Cantor Fitzgerald reissued a “buy” rating and set a $50.00 price objective on shares of Heron Therapeutics in a report on Wednesday, August 8th. ValuEngine cut Heron Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 2nd. Finally, Stifel Nicolaus initiated coverage on Heron Therapeutics in a report on Thursday, September 13th. They set a “buy” rating and a $55.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Heron Therapeutics currently has an average rating of “Buy” and an average price target of $52.09.

The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 7.87 and a beta of 1.45.

Heron Therapeutics (NASDAQ:HRTX) last announced its quarterly earnings data on Wednesday, November 7th. The biotechnology company reported ($0.49) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.44) by ($0.05). The firm had revenue of $19.79 million for the quarter, compared to analysts’ expectations of $19.84 million. Heron Therapeutics had a negative net margin of 326.79% and a negative return on equity of 72.23%. The business’s quarterly revenue was up 130.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.77) earnings per share. As a group, analysts forecast that Heron Therapeutics Inc will post -2.34 EPS for the current fiscal year.

In related news, VP Kimberly Manhard sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $32.07, for a total transaction of $192,420.00. Following the transaction, the vice president now directly owns 6,000 shares in the company, valued at approximately $192,420. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kevin C. Tang sold 2,695,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $35.75, for a total value of $96,346,250.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,701,494 shares of company stock worth $96,553,796. 16.20% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of HRTX. Amalgamated Bank bought a new stake in shares of Heron Therapeutics in the 2nd quarter worth approximately $379,000. Aperio Group LLC grew its position in shares of Heron Therapeutics by 14.4% in the 2nd quarter. Aperio Group LLC now owns 11,261 shares of the biotechnology company’s stock worth $437,000 after buying an additional 1,416 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Heron Therapeutics by 339.1% in the 2nd quarter. Wells Fargo & Company MN now owns 265,847 shares of the biotechnology company’s stock worth $10,329,000 after buying an additional 205,302 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of Heron Therapeutics in the 2nd quarter worth approximately $5,624,000. Finally, Jennison Associates LLC bought a new stake in shares of Heron Therapeutics in the 2nd quarter worth approximately $8,741,000.

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About Heron Therapeutics (NASDAQ:HRTX)

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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