Heron Therapeutics (HRTX) Stock Rating Reaffirmed by Mizuho
Heron Therapeutics (NASDAQ:HRTX)‘s stock had its “buy” rating reissued by investment analysts at Mizuho in a note issued to investors on Friday. They currently have a $28.00 price objective on the biotechnology company’s stock. Mizuho’s price objective suggests a potential upside of 75.55% from the stock’s current price.
The analysts wrote, “We analyze in greater detail Heron Therapeutics’ product HTX-011 to better understand the benefits of this extended-release combination of bupivacaine and anti-inflammatory agent meloxicam. Local anesthetics appear to lose efficacy when used in an acidic environment produced by inflammation whereas HTX-011 addresses the issue by the use of an anti-inflammation agent. We see significant upside potential if HTX-011 phase 3 readouts are positive. KeyPoints Inflammation is an unmet issue in local anesthetics. Local anesthetic failure has been observed when associated with inflammation. On page 2 and 3, we discuss two research publications to explain how inflammation can affect local anesthetics. Two theories are summarized by the authors providing evidence of reduced efficacy in generic bupivacaine when used by itself. Specifically, bupivacaine loses efficacy when used in an acidic environment produced by inflammation.””
Several other research firms have also recently weighed in on HRTX. ValuEngine raised Heron Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, November 30th. Zacks Investment Research raised Heron Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Noble Financial reissued a “buy” rating and set a $24.00 price target on shares of Heron Therapeutics in a report on Friday, October 6th. Oppenheimer reissued a “buy” rating and set a $27.00 price target on shares of Heron Therapeutics in a report on Friday, November 10th. Finally, BidaskClub raised Heron Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $28.73.
Shares of Heron Therapeutics (HRTX) opened at $15.95 on Friday. Heron Therapeutics has a 52-week low of $12.21 and a 52-week high of $18.40. The company has a current ratio of 2.12, a quick ratio of 2.02 and a debt-to-equity ratio of 0.62.
Heron Therapeutics (NASDAQ:HRTX) last released its quarterly earnings data on Monday, November 6th. The biotechnology company reported ($0.77) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.87) by $0.10. The company had revenue of $8.57 million during the quarter, compared to analysts’ expectations of $8.12 million. Heron Therapeutics had a negative return on equity of 385.11% and a negative net margin of 831.89%. equities analysts anticipate that Heron Therapeutics will post -3.43 EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the business. Legal & General Group Plc increased its stake in Heron Therapeutics by 13.9% during the 1st quarter. Legal & General Group Plc now owns 8,971 shares of the biotechnology company’s stock worth $136,000 after acquiring an additional 1,098 shares during the period. Quantbot Technologies LP increased its stake in Heron Therapeutics by 2,619.6% during the 2nd quarter. Quantbot Technologies LP now owns 12,483 shares of the biotechnology company’s stock worth $172,000 after acquiring an additional 12,024 shares during the period. Trexquant Investment LP bought a new position in Heron Therapeutics during the 3rd quarter worth $206,000. Jane Street Group LLC bought a new position in Heron Therapeutics during the 3rd quarter worth $223,000. Finally, HighTower Advisors LLC increased its stake in Heron Therapeutics by 11.4% during the 2nd quarter. HighTower Advisors LLC now owns 16,584 shares of the biotechnology company’s stock worth $231,000 after acquiring an additional 1,700 shares during the period.
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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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