BidaskClub Downgrades Heron Therapeutics (HRTX) to Strong Sell

BidaskClub lowered shares of Heron Therapeutics (NASDAQ:HRTX) from a sell rating to a strong sell rating in a research report report published on Thursday morning, BidAskClub reports.

A number of other brokerages also recently issued reports on HRTX. Cantor Fitzgerald downgraded Heron Therapeutics from an overweight rating to a neutral rating in a research note on Monday, March 4th. ValuEngine downgraded Heron Therapeutics from a buy rating to a hold rating in a research note on Friday, March 1st. Stifel Nicolaus reissued a buy rating and set a $54.00 target price on shares of Heron Therapeutics in a research note on Friday, February 22nd. Needham & Company LLC reissued a buy rating and set a $64.00 target price (down from $66.00) on shares of Heron Therapeutics in a research note on Wednesday, January 16th. Finally, Zacks Investment Research downgraded Heron Therapeutics from a hold rating to a sell rating in a research note on Wednesday, January 9th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. Heron Therapeutics currently has a consensus rating of Buy and an average target price of $52.80.

Shares of HRTX stock opened at $23.50 on Thursday. Heron Therapeutics has a 12-month low of $21.25 and a 12-month high of $42.90.

Heron Therapeutics (NASDAQ:HRTX) last issued its earnings results on Friday, February 22nd. The biotechnology company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.17). The business had revenue of $28.84 million for the quarter, compared to analysts’ expectations of $28.05 million. Heron Therapeutics had a negative return on equity of 54.98% and a negative net margin of 230.84%. On average, equities research analysts predict that Heron Therapeutics will post -1.52 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Heron Therapeutics by 24.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,747 shares of the biotechnology company’s stock valued at $123,000 after purchasing an additional 929 shares in the last quarter. Jefferies Group LLC purchased a new position in Heron Therapeutics in the 3rd quarter valued at approximately $202,000. Verition Fund Management LLC purchased a new position in Heron Therapeutics in the 3rd quarter valued at approximately $208,000. Pacer Advisors Inc. purchased a new position in Heron Therapeutics in the 3rd quarter valued at approximately $223,000. Finally, Great West Life Assurance Co. Can increased its stake in Heron Therapeutics by 65.6% in the 3rd quarter. Great West Life Assurance Co. Can now owns 7,611 shares of the biotechnology company’s stock valued at $240,000 after purchasing an additional 3,016 shares in 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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Analyst Recommendations for Heron Therapeutics (NASDAQ:HRTX)

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