Heron Therapeutics (NASDAQ:HRTX) Shares Gap Down After Analyst Downgrade

Shares of Heron Therapeutics Inc (NASDAQ:HRTX) gapped down prior to trading on Tuesday after SVB Leerink lowered their price target on the stock from $26.00 to $19.00. The stock had previously closed at $15.62, but opened at $14.26. SVB Leerink currently has an outperform rating on the stock. Heron Therapeutics shares last traded at $14.65, with a volume of 123,670 shares trading hands.

A number of other equities research analysts have also issued reports on HRTX. Northland Securities initiated coverage on Heron Therapeutics in a research note on Monday, June 22nd. They issued a “buy” rating and a $47.00 target price for the company. Needham & Company LLC reissued a “buy” rating and issued a $44.00 price target on shares of Heron Therapeutics in a report on Wednesday, April 15th. FIX initiated coverage on Heron Therapeutics in a report on Monday, May 18th. They issued an “add” rating for the company. Guggenheim initiated coverage on Heron Therapeutics in a report on Tuesday, May 26th. They issued a “buy” rating and a $24.00 price target for the company. Finally, Zacks Investment Research downgraded Heron Therapeutics from a “buy” rating to a “hold” rating and set a $18.00 price target for the company. in a report on Wednesday, May 20th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $36.10.

A number of large investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. lifted its holdings in Heron Therapeutics by 3.1% during the 1st quarter. Franklin Resources Inc. now owns 12,742,271 shares of the biotechnology company’s stock worth $149,588,000 after buying an additional 380,860 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its holdings in Heron Therapeutics by 7.9% during the 1st quarter. ArrowMark Colorado Holdings LLC now owns 4,434,787 shares of the biotechnology company’s stock worth $52,064,000 after buying an additional 326,159 shares during the last quarter. State Street Corp lifted its holdings in Heron Therapeutics by 1.6% during the 1st quarter. State Street Corp now owns 3,430,125 shares of the biotechnology company’s stock worth $40,270,000 after buying an additional 54,068 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Heron Therapeutics by 27.5% during the 1st quarter. JPMorgan Chase & Co. now owns 2,577,742 shares of the biotechnology company’s stock worth $30,262,000 after buying an additional 555,540 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Heron Therapeutics by 122.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,537,619 shares of the biotechnology company’s stock worth $36,134,000 after buying an additional 847,578 shares during the last quarter.

The firm has a market cap of $1.80 billion, a P/E ratio of -6.37 and a beta of 1.55. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.17 and a current ratio of 4.53. The firm has a fifty day moving average of $18.34 and a 200-day moving average of $18.55.

Heron Therapeutics (NASDAQ:HRTX) last announced its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported ($0.57) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.65) by $0.08. The business had revenue of $25.40 million for the quarter, compared to the consensus estimate of $21.23 million. Heron Therapeutics had a negative return on equity of 56.85% and a negative net margin of 138.31%. The business’s revenue was down 19.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.80) EPS. Equities research analysts expect that Heron Therapeutics Inc will post -2.33 earnings per share for the current year.

Heron Therapeutics Company Profile (NASDAQ:HRTX)

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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