Northland Securities Reaffirms Buy Rating for Heron Therapeutics (NASDAQ:HRTX)

Heron Therapeutics (NASDAQ:HRTX)‘s stock had its “buy” rating reiterated by equities researchers at Northland Securities in a report issued on Wednesday, AnalystRatings.com reports. They presently have a $47.00 target price on the biotechnology company’s stock. Northland Securities’ target price points to a potential upside of 133.60% from the stock’s previous close.

HRTX has been the topic of several other research reports. JMP Securities cut their target price on Heron Therapeutics from $38.00 to $32.00 and set a “market outperform” rating on the stock in a research note on Thursday, October 3rd. ValuEngine upgraded Heron Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Cowen reiterated a “buy” rating and issued a $40.00 target price on shares of Heron Therapeutics in a research note on Tuesday, October 1st. Stifel Nicolaus reiterated a “buy” rating and issued a $38.00 target price on shares of Heron Therapeutics in a research note on Monday, August 5th. Finally, BidaskClub lowered Heron Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Heron Therapeutics has an average rating of “Buy” and an average target price of $49.43.

Shares of Heron Therapeutics stock opened at $20.12 on Wednesday. The firm has a market cap of $1.71 billion, a P/E ratio of -8.25 and a beta of 1.44. The company has a current ratio of 4.01, a quick ratio of 3.70 and a debt-to-equity ratio of 0.04. Heron Therapeutics has a 12 month low of $15.68 and a 12 month high of $29.49. The stock’s fifty day moving average price is $19.44 and its 200-day moving average price is $18.59.

Heron Therapeutics (NASDAQ:HRTX) last posted its earnings results on Tuesday, November 12th. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.15. Heron Therapeutics had a negative return on equity of 56.89% and a negative net margin of 172.07%. The company had revenue of $42.62 million for the quarter, compared to analyst estimates of $34.02 million. During the same quarter in the previous year, the firm earned ($0.49) earnings per share. The firm’s quarterly revenue was up 115.4% compared to the same quarter last year. Analysts forecast that Heron Therapeutics will post -2.73 earnings per share for the current year.

In other Heron Therapeutics news, CEO Barry D. Quart purchased 4,571 shares of the stock in a transaction on Thursday, October 3rd. The stock was acquired at an average price of $17.50 per share, with a total value of $79,992.50. Following the completion of the acquisition, the chief executive officer now owns 90,081 shares in the company, valued at $1,576,417.50. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Kevin C. Tang purchased 285,714 shares of the stock in a transaction on Friday, October 4th. The stock was acquired at an average cost of $17.50 per share, with a total value of $4,999,995.00. The disclosure for this purchase can be found here. In the last three months, insiders acquired 306,533 shares of company stock valued at $5,421,185. Corporate insiders own 12.56% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Heron Therapeutics by 5.2% in the second quarter. Vanguard Group Inc. now owns 6,744,858 shares of the biotechnology company’s stock worth $125,387,000 after acquiring an additional 330,351 shares in the last quarter. BlackRock Inc. boosted its holdings in Heron Therapeutics by 0.9% in the second quarter. BlackRock Inc. now owns 4,901,392 shares of the biotechnology company’s stock worth $91,116,000 after acquiring an additional 42,657 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Heron Therapeutics by 60.2% during the second quarter. JPMorgan Chase & Co. now owns 1,425,517 shares of the biotechnology company’s stock worth $26,274,000 after purchasing an additional 535,821 shares during the period. Northern Trust Corp lifted its holdings in shares of Heron Therapeutics by 1.2% during the second quarter. Northern Trust Corp now owns 851,035 shares of the biotechnology company’s stock worth $15,820,000 after purchasing an additional 9,963 shares during the period. Finally, C WorldWide Group Holding A S lifted its holdings in shares of Heron Therapeutics by 178.5% during the second quarter. C WorldWide Group Holding A S now owns 702,069 shares of the biotechnology company’s stock worth $13,051,000 after purchasing an additional 450,000 shares during the period.

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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