Heron Therapeutics (NASDAQ:HRTX) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Several other analysts have also weighed in on HRTX. Leerink Swann lifted their price objective on Heron Therapeutics to $46.00 and gave the stock an “outperform” rating in a report on Friday, June 22nd. Evercore ISI lifted their price objective on Heron Therapeutics from $56.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, June 21st. Oppenheimer lifted their price objective on Heron Therapeutics from $34.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, June 22nd. Cantor Fitzgerald reissued a “buy” rating and set a $40.00 price objective on shares of Heron Therapeutics in a report on Thursday, June 21st. Finally, Cowen reissued a “buy” rating and set a $54.00 price objective on shares of Heron Therapeutics in a report on Thursday, June 21st. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Heron Therapeutics presently has an average rating of “Buy” and a consensus target price of $50.09.

HRTX traded up $0.70 during midday trading on Tuesday, reaching $39.25. The company’s stock had a trading volume of 476,900 shares, compared to its average volume of 1,173,473. The firm has a market capitalization of $3.00 billion, a P/E ratio of 10.75 and a beta of 1.45. Heron Therapeutics has a twelve month low of $14.40 and a twelve month high of $42.90.

Heron Therapeutics (NASDAQ:HRTX) last released its earnings results on Wednesday, August 8th. The biotechnology company reported ($0.54) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.68) by $0.14. Heron Therapeutics had a negative return on equity of 112.35% and a negative net margin of 411.41%. The firm had revenue of $17.28 million for the quarter, compared to analyst estimates of $12.82 million. During the same quarter last year, the firm posted ($0.80) EPS. The company’s revenue was up 103.1% on a year-over-year basis. equities research analysts expect that Heron Therapeutics will post -2.22 EPS for the current year.

In related news, CFO Robert Hoffman sold 30,000 shares of the business’s stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $38.17, for a total value of $1,145,100.00. Following the sale, the chief financial officer now owns 1,280 shares of the company’s stock, valued at approximately $48,857.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Kimberly Manhard sold 6,000 shares of the business’s stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $37.53, for a total value of $225,180.00. Following the completion of the sale, the vice president now directly owns 6,000 shares in the company, valued at approximately $225,180. The disclosure for this sale can be found here. Insiders have sold a total of 440,469 shares of company stock worth $17,218,958 in the last three months. 16.20% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its stake in Heron Therapeutics by 7.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 299,384 shares of the biotechnology company’s stock valued at $11,632,000 after buying an additional 19,966 shares in the last quarter. California Public Employees Retirement System boosted its stake in Heron Therapeutics by 31.6% in the 2nd quarter. California Public Employees Retirement System now owns 78,555 shares of the biotechnology company’s stock valued at $3,052,000 after buying an additional 18,855 shares in the last quarter. Castleark Management LLC boosted its stake in Heron Therapeutics by 237.5% in the 2nd quarter. Castleark Management LLC now owns 201,080 shares of the biotechnology company’s stock valued at $7,812,000 after buying an additional 141,505 shares in the last quarter. Millennium Management LLC acquired a new stake in Heron Therapeutics in the 2nd quarter valued at $6,968,000. Finally, Orbimed Advisors LLC boosted its stake in Heron Therapeutics by 15.4% in the 2nd quarter. Orbimed Advisors LLC now owns 1,315,100 shares of the biotechnology company’s stock valued at $51,092,000 after buying an additional 175,300 shares in the last quarter.

Heron Therapeutics Company Profile

Heron Therapeutics, Inc, a biotechnology company, engages in developing medicines 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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