Zacks Investment Research upgraded shares of Heron Therapeutics, Inc. (NASDAQ:HRTX) from a hold rating to a buy rating in a report released on Wednesday morning. They currently have $18.00 target price on the biotechnology company’s stock.

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 brokerages have also recently issued reports on HRTX. Cantor Fitzgerald set a $31.00 price objective on shares of Heron Therapeutics and gave the company a buy rating in a report on Thursday, October 26th. Jefferies Group LLC restated a buy rating on shares of Heron Therapeutics in a report on Wednesday, August 16th. Northland Securities initiated coverage on shares of Heron Therapeutics in a report on Wednesday, September 27th. They set an outperform rating and a $40.00 price objective for the company. Noble Financial restated a buy rating and set a $24.00 price objective on shares of Heron Therapeutics in a report on Friday, October 6th. Finally, BidaskClub cut shares of Heron Therapeutics from a hold rating to a sell rating in a report on Friday, August 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $28.73.

Heron Therapeutics (NASDAQ HRTX) opened at $16.80 on Wednesday. The company has a quick ratio of 2.02, a current ratio of 2.12 and a debt-to-equity ratio of 0.62. Heron Therapeutics has a 1-year low of $12.21 and a 1-year high of $17.98.

Heron Therapeutics (NASDAQ:HRTX) last issued 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 firm had revenue of $8.57 million during the quarter, compared to analysts’ expectations of $8.12 million. Heron Therapeutics had a negative net margin of 831.89% and a negative return on equity of 385.11%. analysts forecast that Heron Therapeutics will post -3.42 earnings per share for the current fiscal year.

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Several hedge funds have recently made changes to their positions in HRTX. Janus Henderson Group PLC bought a new stake in shares of Heron Therapeutics in the second quarter worth $78,134,000. Vanguard Group Inc. lifted its position in shares of Heron Therapeutics by 40.2% in the first quarter. Vanguard Group Inc. now owns 1,875,103 shares of the biotechnology company’s stock worth $28,127,000 after purchasing an additional 537,563 shares in the last quarter. State Street Corp lifted its position in shares of Heron Therapeutics by 30.7% in the first quarter. State Street Corp now owns 1,787,678 shares of the biotechnology company’s stock worth $26,822,000 after purchasing an additional 420,113 shares in the last quarter. Perceptive Advisors LLC bought a new stake in shares of Heron Therapeutics in the third quarter worth $5,329,000. Finally, Rubric Capital Management LP lifted its position in shares of Heron Therapeutics by 11.8% in the third quarter. Rubric Capital Management LP now owns 1,900,000 shares of the biotechnology company’s stock worth $30,685,000 after purchasing an additional 200,000 shares in the last quarter.

Heron Therapeutics Company Profile

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.

Analyst Recommendations for Heron Therapeutics (NASDAQ:HRTX)

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