Heron Therapeutics Inc. (NASDAQ:HRTX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
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. “
A number of other equities analysts have also weighed in on HRTX. Cowen and Company reaffirmed a “buy” rating on shares of Heron Therapeutics in a research note on Saturday, July 9th. Leerink Swann reaffirmed a “buy” rating and issued a $33.00 target price on shares of Heron Therapeutics in a research note on Sunday. JMP Securities reaffirmed a “buy” rating on shares of Heron Therapeutics in a research note on Friday, September 9th. Brean Capital assumed coverage on shares of Heron Therapeutics in a research note on Tuesday. They issued a “buy” rating and a $41.00 target price for the company. Finally, Jefferies Group reduced their target price on shares of Heron Therapeutics from $46.00 to $40.00 and set a “buy” rating for the company in a research note on Monday. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. Heron Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $42.14.
Heron Therapeutics (NASDAQ:HRTX) traded up 6.90% during trading on Wednesday, hitting $17.20. The stock had a trading volume of 1,136,593 shares. Heron Therapeutics has a 12-month low of $15.13 and a 12-month high of $31.32. The stock has a 50 day moving average price of $18.85 and a 200 day moving average price of $18.91.
Heron Therapeutics (NASDAQ:HRTX) last announced its quarterly earnings results on Monday, August 8th. The biotechnology company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.96) by $0.21. Analysts expect that Heron Therapeutics will post ($4.44) EPS for the current year.
In other news, insider Robert Rosen sold 100,000 shares of the company’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $23.30, for a total value of $2,330,000.00. Following the sale, the insider now directly owns 102,640 shares of the company’s stock, valued at approximately $2,391,512. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 20.31% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the stock. Franklin Resources Inc. boosted its stake in shares of Heron Therapeutics by 28.2% in the first quarter. Franklin Resources Inc. now owns 7,523,278 shares of the biotechnology company’s stock worth $142,869,000 after buying an additional 1,653,008 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Heron Therapeutics by 6.0% in the first quarter. JPMorgan Chase & Co. now owns 348,685 shares of the biotechnology company’s stock worth $6,622,000 after buying an additional 19,737 shares during the last quarter. VHCP Management II LLC purchased a new stake in shares of Heron Therapeutics during the first quarter worth about $7,708,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Heron Therapeutics during the first quarter worth about $734,000. Finally, Panagora Asset Management Inc. boosted its stake in shares of Heron Therapeutics by 90.3% in the first quarter. Panagora Asset Management Inc. now owns 245,392 shares of the biotechnology company’s stock worth $4,660,000 after buying an additional 116,461 shares during the last quarter.
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.
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