Heron Therapeutics (NASDAQ:HRTX) Rating Increased to Buy at Zacks Investment Research

Heron Therapeutics (NASDAQ:HRTX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday, Zacks.com reports. The brokerage currently has a $23.00 price target on the biotechnology company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 6.58% from the stock’s current price.

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. “

Other analysts have also recently issued research reports about the stock. Svb Leerink reiterated an “outperform” rating on shares of Heron Therapeutics in a research note on Tuesday. BidaskClub cut shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday. ValuEngine upgraded shares of Heron Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Northland Securities restated a “buy” rating and issued a $47.00 target price on shares of Heron Therapeutics in a research report on Wednesday. Finally, Evercore ISI restated a “buy” rating and issued a $75.00 target price on shares of Heron Therapeutics in a research report on Tuesday, August 13th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $46.13.

Shares of Heron Therapeutics stock opened at $21.58 on Friday. Heron Therapeutics has a twelve month low of $15.68 and a twelve month high of $29.49. The company has a quick ratio of 3.70, a current ratio of 4.01 and a debt-to-equity ratio of 0.04. The company has a 50-day simple moving average of $19.52 and a two-hundred day simple moving average of $18.57. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of -8.84 and a beta of 1.44.

Heron Therapeutics (NASDAQ:HRTX) last issued its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.57) by $0.15. Heron Therapeutics had a negative net margin of 140.55% and a negative return on equity of 58.49%. The business had revenue of $42.62 million during the quarter, compared to analysts’ expectations of $34.02 million. During the same quarter in the previous year, the company earned ($0.49) EPS. The business’s revenue was up 115.4% on a year-over-year basis. On average, sell-side analysts anticipate that Heron Therapeutics will post -2.73 earnings per share for the current fiscal year.

In related news, EVP John Poyhonen acquired 5,143 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was acquired at an average cost of $17.50 per share, for a total transaction of $90,002.50. Following the transaction, the executive vice president now directly owns 18,143 shares in the company, valued at $317,502.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Barry D. Quart acquired 4,571 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were bought at an average price of $17.50 per share, with a total value of $79,992.50. Following the completion of the transaction, the chief executive officer now owns 90,081 shares in the company, valued at $1,576,417.50. The disclosure for this purchase can be found here. Insiders bought a total of 306,533 shares of company stock valued at $5,421,185 over the last 90 days. Corporate insiders own 12.56% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Heron Therapeutics by 5.2% during the 2nd quarter. Vanguard Group Inc. now owns 6,744,858 shares of the biotechnology company’s stock worth $125,387,000 after purchasing an additional 330,351 shares in the last quarter. BlackRock Inc. increased its position in Heron Therapeutics by 0.9% during the 2nd quarter. BlackRock Inc. now owns 4,901,392 shares of the biotechnology company’s stock worth $91,116,000 after purchasing an additional 42,657 shares in the last quarter. JPMorgan Chase & Co. increased its position in Heron Therapeutics by 60.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,425,517 shares of the biotechnology company’s stock worth $26,274,000 after purchasing an additional 535,821 shares in the last quarter. Northern Trust Corp increased its position in 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 purchasing an additional 9,963 shares in the last quarter. Finally, C WorldWide Group Holding A S increased its position in Heron Therapeutics by 178.5% during the 2nd quarter. C WorldWide Group Holding A S now owns 702,069 shares of the biotechnology company’s stock worth $13,051,000 after purchasing an additional 450,000 shares in the last quarter.

About Heron Therapeutics

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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