Heron Therapeutics (NASDAQ:HRTX) Now Covered by Analysts at Stifel Nicolaus

Research analysts at Stifel Nicolaus initiated coverage on shares of Heron Therapeutics (NASDAQ:HRTX) in a research report issued to clients and investors on Monday, TipRanks reports. The brokerage set a “buy” rating and a $21.00 price target on the biotechnology company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 42.76% from the company’s previous close.

Several other research firms also recently weighed in on HRTX. FIX assumed coverage on Heron Therapeutics in a research report on Monday, May 18th. They set an “add” rating on the stock. Northland Securities assumed coverage on Heron Therapeutics in a research report on Monday, June 22nd. They set a “buy” rating and a $47.00 target price on the stock. BidaskClub upgraded Heron Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, June 23rd. Needham & Company LLC reiterated a “buy” rating and set a $44.00 target price on shares of Heron Therapeutics in a research report on Wednesday, April 15th. Finally, Guggenheim started coverage on Heron Therapeutics in a report on Tuesday, May 26th. They issued a “buy” rating and a $24.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $36.10.

HRTX opened at $14.71 on Monday. The business’s fifty day simple moving average is $18.33 and its 200 day simple moving average is $18.49. Heron Therapeutics has a 52 week low of $9.60 and a 52 week high of $26.81. The firm has a market cap of $1.33 billion, a P/E ratio of -6.48 and a beta of 1.55. The company has a quick ratio of 4.17, a current ratio of 4.53 and a debt-to-equity ratio of 0.05.

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

Several institutional investors have recently added to or reduced their stakes in HRTX. Franklin Resources Inc. raised its holdings in shares of Heron Therapeutics by 19.6% in the 4th quarter. Franklin Resources Inc. now owns 12,361,411 shares of the biotechnology company’s stock worth $290,496,000 after purchasing an additional 2,026,380 shares during the period. Norges Bank purchased a new stake in shares of Heron Therapeutics during the 4th quarter valued at about $23,384,000. Farallon Capital Management LLC purchased a new stake in shares of Heron Therapeutics during the 4th quarter valued at about $20,563,000. Goldman Sachs Group Inc. raised its holdings in shares of 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 valued at $36,134,000 after buying an additional 847,578 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Heron Therapeutics by 27.5% during the 1st quarter. JPMorgan Chase & Co. now owns 2,577,742 shares of the biotechnology company’s stock valued at $30,262,000 after buying an additional 555,540 shares during the period.

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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