Heron Therapeutics Inc. (HRTX) Downgraded by Zacks Investment Research to Sell
Heron Therapeutics Inc. (NASDAQ:HRTX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Heron Therapeutics Inc. is a specialty pharmaceutical company. The company is developing products using its proprietary Biochronomer (TM) polymer-based drug delivery platform. Its product portfolio includes APF530, is being developed for the prevention of acute chemotherapy-induced nausea and vomiting. Heron Therapeutics Inc., formerly known as A.P. Pharma, Inc., is based in REDWOOD CITY CA. “
HRTX has been the topic of several other reports. Brean Capital initiated coverage on Heron Therapeutics in a research note on Tuesday, October 4th. They set a “buy” rating and a $41.00 price objective on the stock. Lake Street Capital restated a “buy” rating and set a $45.00 price objective on shares of Heron Therapeutics in a research note on Tuesday, September 6th. JMP Securities reaffirmed a “buy” rating on shares of Heron Therapeutics in a research report on Friday, September 9th. Jefferies Group dropped their target price on Heron Therapeutics from $46.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, October 3rd. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $38.00 target price on shares of Heron Therapeutics in a research report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $42.29.
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Shares of Heron Therapeutics (NASDAQ:HRTX) traded down 1.91% during midday trading on Tuesday, hitting $15.40. 390,499 shares of the company’s stock traded hands. The company has a 50 day moving average of $17.83 and a 200 day moving average of $18.80. Heron Therapeutics has a 52 week low of $14.75 and a 52 week high of $31.32.
Heron Therapeutics (NASDAQ:HRTX) last announced its quarterly earnings data on Monday, August 8th. The biotechnology company reported ($1.17) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.96) by $0.21. On average, equities analysts anticipate that Heron Therapeutics will post ($4.39) earnings per share for the current year.
In other news, insider Robert Rosen sold 100,000 shares of the firm’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $23.30, for a total transaction of $2,330,000.00. Following the transaction, the insider now directly owns 102,640 shares of the company’s stock, valued at $2,391,512. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 20.31% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of HRTX. Schwab Charles Investment Management Inc. raised its position in shares of Heron Therapeutics by 8.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 111,768 shares of the biotechnology company’s stock worth $2,018,000 after buying an additional 8,772 shares during the period. Metropolitan Life Insurance Co. NY raised its position in shares of Heron Therapeutics by 25.4% in the second quarter. Metropolitan Life Insurance Co. NY now owns 26,014 shares of the biotechnology company’s stock worth $470,000 after buying an additional 5,268 shares during the period. Panagora Asset Management Inc. boosted its position in shares of Heron Therapeutics by 6.5% in the second quarter. Panagora Asset Management Inc. now owns 261,298 shares of the biotechnology company’s stock valued at $4,716,000 after buying an additional 15,906 shares in the last quarter. Barclays PLC boosted its position in shares of Heron Therapeutics by 255.0% in the second quarter. Barclays PLC now owns 30,905 shares of the biotechnology company’s stock valued at $558,000 after buying an additional 22,199 shares in the last quarter. Finally, Parametric Portfolio Associates LLC purchased a new position in shares of Heron Therapeutics during the second quarter valued at $213,000.
Heron Therapeutics Company Profile
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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