Heron Therapeutics (HRTX) Upgraded by BidaskClub to Sell

Heron Therapeutics (NASDAQ:HRTX) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Saturday.

Other equities analysts also recently issued research reports about the stock. Cantor Fitzgerald set a $50.00 price objective on shares of Heron Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, October 30th. Zacks Investment Research raised shares of Heron Therapeutics from a “sell” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Thursday, October 11th. Stifel Nicolaus initiated coverage on shares of Heron Therapeutics in a research note on Thursday, September 13th. They issued a “buy” rating and a $55.00 price objective for the company. Finally, ValuEngine downgraded shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, September 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $52.09.

Shares of NASDAQ:HRTX opened at $28.73 on Friday. The company has a market capitalization of $2.24 billion, a P/E ratio of 7.87 and a beta of 1.45. Heron Therapeutics has a 52 week low of $15.00 and a 52 week high of $42.90.

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

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

Several hedge funds have recently modified their holdings of HRTX. Allianz Asset Management GmbH increased its position in shares of Heron Therapeutics by 1,040.8% during the third quarter. Allianz Asset Management GmbH now owns 1,887,391 shares of the biotechnology company’s stock worth $59,736,000 after purchasing an additional 1,721,947 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Heron Therapeutics by 36.7% during the third quarter. Vanguard Group Inc. now owns 6,193,249 shares of the biotechnology company’s stock worth $196,016,000 after purchasing an additional 1,661,318 shares in the last quarter. BlackRock Inc. increased its position in shares of Heron Therapeutics by 29.4% during the second quarter. BlackRock Inc. now owns 4,544,731 shares of the biotechnology company’s stock worth $176,563,000 after purchasing an additional 1,032,010 shares in the last quarter. Rubric Capital Management LP increased its position in shares of Heron Therapeutics by 71.8% during the third quarter. Rubric Capital Management LP now owns 1,958,850 shares of the biotechnology company’s stock worth $61,998,000 after purchasing an additional 818,603 shares in the last quarter. Finally, FMR LLC increased its position in shares of Heron Therapeutics by 6.5% during the second quarter. FMR LLC now owns 11,290,956 shares of the biotechnology company’s stock worth $438,654,000 after purchasing an additional 693,699 shares in the last quarter.

About Heron Therapeutics

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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