Heron Therapeutics (HRTX) Shares Up 7.7%

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Heron Therapeutics Inc (NASDAQ:HRTX) shares shot up 7.7% during trading on Wednesday . The stock traded as high as $31.25 and last traded at $31.11. 1,114,841 shares changed hands during trading, a decline of 4% from the average session volume of 1,163,104 shares. The stock had previously closed at $28.89.

Several research firms have commented on HRTX. Cantor Fitzgerald set a $50.00 price target on Heron Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, October 30th. Zacks Investment Research raised Heron Therapeutics from a “sell” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Thursday, October 11th. BidaskClub lowered Heron Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, September 22nd. Stifel Nicolaus began coverage on Heron Therapeutics in a research report on Thursday, September 13th. They set a “buy” rating and a $55.00 price target on the stock. Finally, ValuEngine lowered Heron Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $52.09.

The company has a market cap of $2.34 billion, a price-to-earnings ratio of 8.52 and a beta of 1.45.

Heron Therapeutics (NASDAQ:HRTX) last announced its earnings results on Wednesday, August 8th. The biotechnology company reported ($0.54) earnings per share for the quarter, beating the 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 company had revenue of $17.28 million for the quarter, compared to the consensus estimate of $12.82 million. During the same period last year, the business posted ($0.80) EPS. The company’s revenue was up 103.1% on a year-over-year basis. On average, equities research analysts expect that Heron Therapeutics Inc will post -2.19 earnings per share for the current fiscal year.

In other Heron Therapeutics news, VP Kimberly Manhard sold 6,000 shares of Heron Therapeutics stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $32.07, for a total value of $192,420.00. Following the transaction, the vice president now directly owns 6,000 shares in the company, valued at approximately $192,420. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kevin C. Tang sold 2,695,000 shares of Heron Therapeutics stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $35.75, for a total value of $96,346,250.00. The disclosure for this sale can be found here. Insiders sold a total of 2,701,494 shares of company stock worth $96,553,796 over the last quarter. Company insiders own 16.20% of the company’s stock.

Several hedge funds have recently made changes to their positions in the business. FMR LLC boosted its stake in shares of Heron Therapeutics by 6.5% in the second quarter. FMR LLC now owns 11,290,956 shares of the biotechnology company’s stock valued at $438,654,000 after buying an additional 693,699 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Heron Therapeutics by 29.4% in the second quarter. BlackRock Inc. now owns 4,544,731 shares of the biotechnology company’s stock valued at $176,563,000 after buying an additional 1,032,010 shares in the last quarter. Orbimed Advisors LLC boosted its stake in shares of Heron Therapeutics by 15.4% in the second 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. First Light Asset Management LLC boosted its stake in shares of Heron Therapeutics by 76.8% in the second quarter. First Light Asset Management LLC now owns 836,737 shares of the biotechnology company’s stock valued at $32,507,000 after buying an additional 363,462 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Heron Therapeutics by 21.4% in the second quarter. Northern Trust Corp now owns 762,315 shares of the biotechnology company’s stock valued at $29,616,000 after buying an additional 134,247 shares in the last quarter.

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Heron Therapeutics Company Profile (NASDAQ:HRTX)

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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