Heron Therapeutics (HRTX) PT Set at $50.00 by Cantor Fitzgerald

Heron Therapeutics (NASDAQ:HRTX) received a $50.00 price objective from equities research analysts at Cantor Fitzgerald in a note issued to investors on Tuesday. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 80.64% from the company’s previous close.

HRTX has been the topic of a number of other reports. Zacks Investment Research raised shares of Heron Therapeutics from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Wednesday, July 18th. Stifel Nicolaus began coverage on shares of Heron Therapeutics in a research note on Thursday, September 13th. They issued a “buy” rating and a $55.00 target price on the stock. ValuEngine downgraded shares of Heron Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 2nd. Finally, BidaskClub downgraded shares of Heron Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, September 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the stock. Heron Therapeutics presently has an average rating of “Buy” and a consensus target price of $52.09.

HRTX traded up $0.41 on Tuesday, reaching $27.68. The company had a trading volume of 14,460 shares, compared to its average volume of 997,854. The company has a market capitalization of $2.14 billion, a P/E ratio of 7.55 and a beta of 1.59. Heron Therapeutics has a 52-week low of $14.85 and a 52-week high of $42.90.

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 analysts’ consensus estimates of ($0.68) by $0.14. The business had revenue of $17.28 million for the quarter, compared to the consensus estimate of $12.82 million. Heron Therapeutics had a negative net margin of 411.41% and a negative return on equity of 112.35%. Heron Therapeutics’s quarterly revenue was up 103.1% on a year-over-year basis. During the same period last year, the firm posted ($0.80) earnings per share. As a group, research analysts anticipate that Heron Therapeutics will post -2.19 EPS for the current 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 shares were sold at an average price of $32.07, for a total transaction of $192,420.00. Following the transaction, the vice president now directly owns 6,000 shares of the company’s stock, valued at $192,420. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kevin C. Tang sold 2,695,000 shares of Heron Therapeutics stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $35.75, for a total transaction of $96,346,250.00. The disclosure for this sale can be found here. Company insiders own 16.20% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of HRTX. BlackRock Inc. increased 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 worth $176,563,000 after buying an additional 1,032,010 shares during the period. FMR LLC increased 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 worth $438,654,000 after buying an additional 693,699 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Heron Therapeutics in the second quarter worth $15,249,000. First Light Asset Management LLC increased 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 worth $32,507,000 after buying an additional 363,462 shares during the period. Finally, Jennison Associates LLC purchased a new position in shares of Heron Therapeutics in the second quarter worth $8,741,000.

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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