Heron Therapeutics Inc (NASDAQ:HRTX)'s share price gapped down before the market opened on Tuesday after SVB Leerink lowered their price target on the stock from $26.00 to $19.00. The stock had previously closed at $15.62, but opened at $14.26. SVB Leerink currently has an outperform rating on the stock. Heron Therapeutics shares last traded at $14.65, with a volume of 123,670 shares changing hands.
HRTX has been the subject of several other research reports. BidaskClub upgraded Heron Therapeutics from a "sell" rating to a "hold" rating in a research note on Tuesday, June 23rd. Stifel Nicolaus initiated coverage on Heron Therapeutics in a research note on Monday. They issued a "buy" rating and a $21.00 price objective for the company. FIX assumed coverage on Heron Therapeutics in a research note on Monday, May 18th. They issued an "add" rating for the company. Needham & Company LLC restated a "buy" rating and set a $44.00 target price on shares of Heron Therapeutics in a research note on Wednesday, April 15th. Finally, Guggenheim assumed coverage on Heron Therapeutics in a research note on Tuesday, May 26th. They set a "buy" rating and a $24.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. The company currently has an average rating of "Buy" and a consensus target price of $36.10.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sowell Financial Services LLC increased its holdings in shares of Heron Therapeutics by 2,443.5% in the first quarter. Sowell Financial Services LLC now owns 2,340 shares of the biotechnology company's stock valued at $27,000 after purchasing an additional 2,248 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Heron Therapeutics by 325.6% in the first quarter. PNC Financial Services Group Inc. now owns 2,698 shares of the biotechnology company's stock valued at $32,000 after purchasing an additional 2,064 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Heron Therapeutics by 259.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,579 shares of the biotechnology company's stock valued at $60,000 after purchasing an additional 1,862 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Heron Therapeutics by 82.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,896 shares of the biotechnology company's stock valued at $116,000 after purchasing an additional 4,463 shares during the period. Finally, X Square Capital LLC acquired a new position in shares of Heron Therapeutics in the first quarter valued at approximately $117,000.
The firm has a market cap of $1.80 billion, a price-to-earnings ratio of -6.37 and a beta of 1.55. The company has a quick ratio of 4.17, a current ratio of 4.53 and a debt-to-equity ratio of 0.05. The stock has a fifty day moving average price of $18.34 and a 200-day moving average price of $18.55.
Heron Therapeutics (NASDAQ:HRTX) last released its earnings results on Wednesday, May 6th. The biotechnology company reported ($0.57) earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of ($0.65) by $0.08. The business had revenue of $25.40 million for the quarter, compared to analyst estimates of $21.23 million. Heron Therapeutics had a negative return on equity of 56.85% and a negative net margin of 138.31%. The company's revenue for the quarter was down 19.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.80) earnings per share. As a group, research analysts expect that Heron Therapeutics Inc will post -2.33 earnings per share for the current year.
About Heron Therapeutics (NASDAQ:HRTX)
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.
Featured Story: What is the CAC 40 Index?
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
8 Stocks Under $10 and On Sale Right Now
During times of market volatility, investors are looking to get return anywhere they can. One approach is to find cheap stocks (i.e. stocks that trade for less than $10). It’s not surprising that many of the cheap stocks can be found on Robinhood. This trading app is popular among millennial investors. And those investors are willing to speculate on cheap stocks.
And it’s easy to see why. Buying 100 shares of a stock that is trading for $5 can seem to be a wise investment if the stock moves higher. After all, if the stock price increases just $1, investors can see a 20% gain.
But that is not always the case. In fact, it’s not usually the case. The trap that some investors fall into is believing that these stocks can be the next Amazon or Apple. And while they do offer a potential reward, they also carry significant risk. It’s important to remember that when a stock is selling for less than $10, there’s usually a reason. And in some cases, it means the stock is under selling pressure.
This is one time when it’s important to remember that inexpensive does not necessarily mean the stock is a good value. However, there are some quality stocks that can be found in the bargain bin. And for many of these stocks, the value is found in a solid dividend that can reward income investors.
View the "8 Stocks Under $10 and On Sale Right Now".