Heron Therapeutics (NASDAQ:HRTX) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Heron Therapeutics (NASDAQ:HRTX) from a hold rating to a sell rating in a report published on Tuesday, Zacks.com reports.

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 subject of several other research reports. ValuEngine upgraded shares of Heron Therapeutics from a sell rating to a hold rating in a research note on Thursday, August 1st. BidaskClub lowered shares of Heron Therapeutics from a buy rating to a hold rating in a research note on Thursday, September 26th. Cowen reiterated a buy rating and issued a $40.00 price objective on shares of Heron Therapeutics in a research note on Tuesday, October 1st. Northland Securities reiterated a buy rating and issued a $55.00 price objective on shares of Heron Therapeutics in a research note on Monday, August 5th. Finally, Stifel Nicolaus reiterated a buy rating and issued a $38.00 price objective on shares of Heron Therapeutics in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $48.50.



Shares of HRTX stock traded up $0.51 during trading hours on Tuesday, hitting $18.21. 104,457 shares of the company were exchanged, compared to its average volume of 1,521,067. The firm has a fifty day simple moving average of $18.79 and a 200 day simple moving average of $19.35. The company has a current ratio of 4.01, a quick ratio of 3.70 and a debt-to-equity ratio of 0.04. Heron Therapeutics has a 52-week low of $15.68 and a 52-week high of $31.81. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of -7.46 and a beta of 1.42.

Heron Therapeutics (NASDAQ:HRTX) last issued its quarterly earnings results on Monday, August 5th. The biotechnology company reported ($0.63) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.65) by $0.02. Heron Therapeutics had a negative net margin of 172.07% and a negative return on equity of 56.89%. The company had revenue of $36.66 million during the quarter, compared to analyst estimates of $31.04 million. Sell-side analysts anticipate that Heron Therapeutics will post -2.73 EPS for the current year.

In other news, Director Kevin C. Tang purchased 285,714 shares of Heron Therapeutics stock in a transaction dated Friday, October 4th. The stock was purchased at an average cost of $17.50 per share, for a total transaction of $4,999,995.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP John Poyhonen purchased 5,143 shares of Heron Therapeutics stock in a transaction dated Thursday, October 3rd. The shares were purchased at an average price of $17.50 per share, with a total value of $90,002.50. Following the completion of the transaction, the executive vice president now directly owns 18,143 shares in the company, valued at $317,502.50. The disclosure for this purchase can be found here. Insiders have bought a total of 295,428 shares of company stock valued at $5,169,990 over the last 90 days. Company insiders own 12.56% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in shares of Heron Therapeutics by 60.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,425,517 shares of the biotechnology company’s stock valued at $26,274,000 after purchasing an additional 535,821 shares in the last quarter. Cutter & CO Brokerage Inc. bought a new stake in shares of Heron Therapeutics during the 2nd quarter worth $392,000. Mesirow Financial Investment Management Inc. lifted its holdings in shares of Heron Therapeutics by 23.3% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 24,112 shares of the biotechnology company’s stock worth $430,000 after acquiring an additional 4,559 shares during the last quarter. Fosun International Ltd lifted its holdings in shares of Heron Therapeutics by 161.7% during the 2nd quarter. Fosun International Ltd now owns 171,557 shares of the biotechnology company’s stock worth $3,162,000 after acquiring an additional 106,000 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Heron Therapeutics by 1.2% during the 2nd quarter. Northern Trust Corp now owns 851,035 shares of the biotechnology company’s stock worth $15,820,000 after acquiring an additional 9,963 shares during the last quarter.

Heron Therapeutics Company Profile

Heron Therapeutics, Inc, a biotechnology company, engages in developing treatments 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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