Heron Therapeutics (NASDAQ:HRTX)‘s stock had its “buy” rating reaffirmed by research analysts at Mizuho in a research report issued to clients and investors on Friday. They currently have a $28.00 price target on the biotechnology company’s stock. Mizuho’s price target points to a potential upside of 75.55% from the company’s previous close.

The analysts wrote, “We analyze in greater detail Heron Therapeutics’ product HTX-011 to better understand the benefits of this extended-release combination of bupivacaine and anti-inflammatory agent meloxicam. Local anesthetics appear to lose efficacy when used in an acidic environment produced by inflammation whereas HTX-011 addresses the issue by the use of an anti-inflammation agent. We see significant upside potential if HTX-011 phase 3 readouts are positive. KeyPoints Inflammation is an unmet issue in local anesthetics. Local anesthetic failure has been observed when associated with inflammation. On page 2 and 3, we discuss two research publications to explain how inflammation can affect local anesthetics. Two theories are summarized by the authors providing evidence of reduced efficacy in generic bupivacaine when used by itself. Specifically, bupivacaine loses efficacy when used in an acidic environment produced by inflammation.””

HRTX has been the subject of several other reports. Cantor Fitzgerald set a $31.00 price objective on shares of Heron Therapeutics and gave the stock a “buy” rating in a report on Friday, October 20th. Cowen reissued a “buy” rating and set a $40.00 price objective on shares of Heron Therapeutics in a report on Monday, November 6th. BidaskClub raised shares of Heron Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Zacks Investment Research raised shares of Heron Therapeutics from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Wednesday, November 22nd. Finally, Oppenheimer restated a “buy” rating and issued a $27.00 price target on shares of Heron Therapeutics in a research report on Friday, November 10th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $28.73.

Shares of Heron Therapeutics (NASDAQ HRTX) traded up $0.50 during mid-day trading on Friday, reaching $15.95. 1,263,665 shares of the company’s stock traded hands, compared to its average volume of 1,107,416. The company has a quick ratio of 2.02, a current ratio of 2.12 and a debt-to-equity ratio of 0.62. Heron Therapeutics has a 52 week low of $12.21 and a 52 week high of $18.40.

Heron Therapeutics (NASDAQ:HRTX) last announced its quarterly earnings data on Monday, November 6th. The biotechnology company reported ($0.77) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.87) by $0.10. The company had revenue of $8.57 million during the quarter, compared to analyst estimates of $8.12 million. Heron Therapeutics had a negative net margin of 831.89% and a negative return on equity of 385.11%. equities analysts forecast that Heron Therapeutics will post -3.43 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of HRTX. Janus Henderson Group PLC bought a new position in shares of Heron Therapeutics in the 2nd quarter worth about $78,134,000. Vanguard Group Inc. lifted its position in shares of Heron Therapeutics by 40.2% in the 1st quarter. Vanguard Group Inc. now owns 1,875,103 shares of the biotechnology company’s stock worth $28,127,000 after buying an additional 537,563 shares during the last quarter. Perceptive Advisors LLC bought a new position in shares of Heron Therapeutics in the 3rd quarter worth about $5,329,000. Rubric Capital Management LP lifted its position in shares of Heron Therapeutics by 11.8% in the 3rd quarter. Rubric Capital Management LP now owns 1,900,000 shares of the biotechnology company’s stock worth $30,685,000 after buying an additional 200,000 shares during the last quarter. Finally, Chartwell Investment Partners LLC bought a new position in shares of Heron Therapeutics in the 3rd quarter worth about $2,340,000.

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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.

Analyst Recommendations for Heron Therapeutics (NASDAQ:HRTX)

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