Cowen Trims Heron Therapeutics (NASDAQ:HRTX) Target Price to $7.50

Heron Therapeutics (NASDAQ:HRTX – Get Rating) had its target price dropped by investment analysts at Cowen from $13.00 to $7.50 in a report released on Tuesday, The Fly reports. Cowen’s price target suggests a potential upside of 107.76% from the stock’s previous close.

A number of other equities research analysts have also recently commented on HRTX. Cantor Fitzgerald decreased their price target on Heron Therapeutics from $26.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday, March 1st. Zacks Investment Research cut Heron Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, February 9th. Needham & Company LLC reduced their target price on Heron Therapeutics from $24.00 to $16.00 in a report on Tuesday, March 1st. Finally, StockNews.com began coverage on Heron Therapeutics in a report on Thursday, March 31st. They issued a “sell” rating on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Heron Therapeutics presently has a consensus rating of “Hold” and an average target price of $16.21.

NASDAQ:HRTX opened at $3.61 on Tuesday. The company has a quick ratio of 2.90, a current ratio of 3.58 and a debt-to-equity ratio of 1.92. The business’s 50-day simple moving average is $5.35 and its two-hundred day simple moving average is $7.92. The stock has a market cap of $368.73 million, a PE ratio of -1.60 and a beta of 1.37. Heron Therapeutics has a 52 week low of $3.60 and a 52 week high of $18.80.

Heron Therapeutics (NASDAQ:HRTX – Get Rating) last posted its quarterly earnings results on Monday, May 9th. The biotechnology company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.18). The business had revenue of $23.46 million for the quarter, compared to the consensus estimate of $22.61 million. Heron Therapeutics had a negative net margin of 255.58% and a negative return on equity of 159.70%. Heron Therapeutics’s revenue was up 17.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.58) earnings per share. Sell-side analysts anticipate that Heron Therapeutics will post -1.59 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HRTX. Zullo Investment Group Inc. purchased a new position in Heron Therapeutics in the fourth quarter worth about $30,000. Dark Forest Capital Management LP grew its position in Heron Therapeutics by 3,258.7% in the third quarter. Dark Forest Capital Management LP now owns 3,090 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 2,998 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Heron Therapeutics during the third quarter valued at approximately $37,000. Russell Investments Group Ltd. purchased a new position in shares of Heron Therapeutics during the fourth quarter valued at approximately $39,000. Finally, Point72 Hong Kong Ltd boosted its position in shares of Heron Therapeutics by 241.1% during the third quarter. Point72 Hong Kong Ltd now owns 6,787 shares of the biotechnology company’s stock valued at $73,000 after buying an additional 4,797 shares during the period.

Heron Therapeutics Company Profile (Get Rating)

Heron Therapeutics, Inc, a biotechnology company, engages in developing treatments to address unmet patient needs. The company's product candidates utilize its proprietary Biochronomer, a 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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