Heron Therapeutics (NASDAQ:HRTX) had its target price reduced by analysts at SVB Leerink from $26.00 to $19.00 in a report released on Tuesday, The Fly reports. The brokerage currently has an "outperform" rating on the biotechnology company's stock. SVB Leerink's price target indicates a potential upside of 31.31% from the company's previous close.
A number of other equities analysts have also weighed in on HRTX. FIX initiated coverage on shares of Heron Therapeutics in a research report on Monday, May 18th. They issued an "add" rating for the company. Zacks Investment Research lowered shares of Heron Therapeutics from a "buy" rating to a "hold" rating and set a $18.00 price target for the company. in a research report on Wednesday, May 20th. Stifel Nicolaus initiated coverage on shares of Heron Therapeutics in a research report on Monday. They issued a "buy" rating and a $21.00 price target for the company. Needham & Company LLC reiterated a "buy" rating and issued a $44.00 price target on shares of Heron Therapeutics in a research report on Wednesday, April 15th. Finally, Guggenheim began coverage on shares of Heron Therapeutics in a report on Tuesday, May 26th. They issued a "buy" rating and a $24.00 target price on the stock. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Heron Therapeutics has a consensus rating of "Buy" and a consensus target price of $36.10.
Shares of HRTX traded up $0.21 during mid-day trading on Tuesday, reaching $14.47. The stock had a trading volume of 40,375 shares, compared to its average volume of 1,293,829. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of -6.37 and a beta of 1.55. Heron Therapeutics has a 12 month low of $9.60 and a 12 month high of $26.81. The business has a fifty day moving average of $18.34 and a 200 day moving average of $18.55. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.17 and a current ratio of 4.53.
Heron Therapeutics (NASDAQ:HRTX) last posted its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported ($0.57) earnings per share for the quarter, topping the Zacks' consensus estimate of ($0.65) by $0.08. The business had revenue of $25.40 million during the quarter, compared to analyst estimates of $21.23 million. Heron Therapeutics had a negative net margin of 138.31% and a negative return on equity of 56.85%. The company's revenue was down 19.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.80) earnings per share. On average, research analysts forecast that Heron Therapeutics will post -2.33 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. Sowell Financial Services LLC raised its position in Heron Therapeutics by 2,443.5% during the 1st quarter. Sowell Financial Services LLC now owns 2,340 shares of the biotechnology company's stock worth $27,000 after buying an additional 2,248 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Heron Therapeutics by 259.7% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,579 shares of the biotechnology company's stock worth $60,000 after purchasing an additional 1,862 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Heron Therapeutics by 325.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,698 shares of the biotechnology company's stock worth $32,000 after purchasing an additional 2,064 shares during the period. Quantbot Technologies LP grew its stake in shares of Heron Therapeutics by 433.3% during the 4th quarter. Quantbot Technologies LP now owns 5,333 shares of the biotechnology company's stock worth $125,000 after purchasing an additional 4,333 shares during the period. Finally, Great West Life Assurance Co. Can grew its stake in shares of Heron Therapeutics by 19.9% during the 4th quarter. Great West Life Assurance Co. Can now owns 6,097 shares of the biotechnology company's stock worth $142,000 after purchasing an additional 1,010 shares during the period.
About Heron Therapeutics
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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