Cowen reaffirmed their buy rating on shares of Heron Therapeutics (NASDAQ:HRTX) in a research note issued to investors on Thursday, AnalystRatings.com reports.
“: Post 1Q19, we are reiterating our Overweight rating and $18 PT on CHMA. We believe the stock continues to trade at a significant discount to its potential intrinsic value. We believe the risk-reward going into Phase 3 data for Mycapssa (oral octreotide) for the treatment of acromegaly, to be released in 3Q19, remains positive. As the company advances Mycapssa toward approval, we expect data readouts, approvals, and upward earnings revisions to drive CHMA’s stock higher.”,” Cowen’s analyst wrote.
A number of other research firms have also issued reports on HRTX. BidaskClub lowered shares of Heron Therapeutics from a sell rating to a strong sell rating in a research report on Thursday, April 18th. Zacks Investment Research lowered shares of Heron Therapeutics from a hold rating to a sell rating in a research report on Wednesday, January 9th. ValuEngine lowered shares of Heron Therapeutics from a hold rating to a sell rating in a research report on Wednesday, May 1st. Northland Securities reissued a buy rating and set a $55.00 price target on shares of Heron Therapeutics in a research report on Thursday. Finally, Stifel Nicolaus reissued a buy rating and set a $38.00 price target on shares of Heron Therapeutics in a research report on Wednesday, May 1st. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $51.20.
Heron Therapeutics (NASDAQ:HRTX) last released its earnings results on Thursday, May 9th. The biotechnology company reported ($0.80) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.30). The company had revenue of $31.60 million during the quarter, compared to analyst estimates of $28.04 million. Heron Therapeutics had a negative return on equity of 47.05% and a negative net margin of 194.43%. The firm’s revenue for the quarter was up 172.4% on a year-over-year basis. During the same quarter last year, the business earned ($1.09) earnings per share. Sell-side analysts anticipate that Heron Therapeutics will post -1.78 earnings per share for the current year.
Several large investors have recently bought and sold shares of HRTX. Vanguard Group Inc. increased its holdings in shares of Heron Therapeutics by 36.7% during the 3rd quarter. Vanguard Group Inc. now owns 6,193,249 shares of the biotechnology company’s stock valued at $196,016,000 after purchasing an additional 1,661,318 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Heron Therapeutics by 319.0% during the 1st quarter. JPMorgan Chase & Co. now owns 889,696 shares of the biotechnology company’s stock valued at $21,744,000 after purchasing an additional 677,354 shares in the last quarter. Norges Bank purchased a new position in shares of Heron Therapeutics during the 4th quarter valued at approximately $13,679,000. D. E. Shaw & Co. Inc. increased its holdings in shares of Heron Therapeutics by 81.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,054,008 shares of the biotechnology company’s stock valued at $27,341,000 after purchasing an additional 473,127 shares in the last quarter. Finally, Rosenblum Silverman Sutton S F Inc. CA purchased a new position in shares of Heron Therapeutics during the 1st quarter valued at approximately $3,474,000.
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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