Heron Therapeutics Inc. (HRTX) Downgraded by Zacks Investment Research
Heron Therapeutics Inc. (NASDAQ:HRTX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to 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. “
Several other brokerages have also recently issued reports on HRTX. Leerink Swann reaffirmed a “buy” rating and set a $33.00 target price on shares of Heron Therapeutics in a research report on Sunday, October 2nd. Cantor Fitzgerald reissued a “buy” rating and issued a $41.00 price objective on shares of Heron Therapeutics in a research report on Wednesday, August 3rd. Lake Street Capital reissued a “buy” rating and issued a $45.00 price objective on shares of Heron Therapeutics in a research report on Tuesday, September 6th. Jefferies Group cut their price objective 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, Brean Capital initiated coverage on Heron Therapeutics in a research report on Tuesday, October 4th. They issued a “buy” rating and a $41.00 price objective on the stock. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. Heron Therapeutics has an average rating of “Buy” and a consensus target price of $42.29.
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Heron Therapeutics (NASDAQ:HRTX) traded down 1.91% on Tuesday, reaching $15.40. The company’s stock had a trading volume of 390,499 shares. Heron Therapeutics has a 12 month low of $14.75 and a 12 month high of $31.32. The firm has a 50 day moving average of $17.83 and a 200 day moving average of $18.80.
Heron Therapeutics (NASDAQ:HRTX) last announced its earnings results 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 research analysts predict that Heron Therapeutics will post ($4.39) earnings per share for the current year.
In other Heron Therapeutics news, insider Robert Rosen sold 100,000 shares of the business’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $23.30, for a total value of $2,330,000.00. Following the sale, the insider now directly owns 102,640 shares in the company, valued at $2,391,512. The sale was disclosed in a filing with the SEC, which is accessible through this link. 20.31% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. BlackRock Group LTD raised its stake in shares of Heron Therapeutics by 9.0% in the second quarter. BlackRock Group LTD now owns 10,816 shares of the biotechnology company’s stock valued at $195,000 after buying an additional 897 shares during the last quarter. Parametric Portfolio Associates LLC bought a new stake in Heron Therapeutics during the second quarter worth about $213,000. BlackRock Advisors LLC raised its stake in Heron Therapeutics by 13.3% in the second quarter. BlackRock Advisors LLC now owns 15,104 shares of the biotechnology company’s stock worth $273,000 after buying an additional 1,769 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in Heron Therapeutics by 8.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 16,739 shares of the biotechnology company’s stock worth $302,000 after buying an additional 1,283 shares during the last quarter. Finally, American International Group Inc. raised its stake in Heron Therapeutics by 8.1% in the second quarter. American International Group Inc. now owns 18,293 shares of the biotechnology company’s stock worth $330,000 after buying an additional 1,369 shares during the last quarter.
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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