Heron Therapeutics’ (HRTX) Buy Rating Reaffirmed at Mizuho

Mizuho reiterated their buy rating on shares of Heron Therapeutics (NASDAQ:HRTX) in a research report sent to investors on Friday. The brokerage currently has a $28.00 price objective on the biotechnology company’s stock.

“We analyze in greater detail Heron Therapeutics’ product HTX-011 to better understand the benefits of this extended-release combination of bupivacaine and anti-inflammatory agent meloxicam. Local anesthetics appear to lose efficacy when used in an acidic environment produced by inflammation whereas HTX-011 addresses the issue by the use of an anti-inflammation agent. We see significant upside potential if HTX-011 phase 3 readouts are positive. KeyPoints Inflammation is an unmet issue in local anesthetics. Local anesthetic failure has been observed when associated with inflammation. On page 2 and 3, we discuss two research publications to explain how inflammation can affect local anesthetics. Two theories are summarized by the authors providing evidence of reduced efficacy in generic bupivacaine when used by itself. Specifically, bupivacaine loses efficacy when used in an acidic environment produced by inflammation.”,” Mizuho’s analyst wrote.

A number of other research firms have also recently commented on HRTX. ValuEngine raised Heron Therapeutics from a sell rating to a hold rating in a research note on Thursday, November 30th. Zacks Investment Research raised Heron Therapeutics from a sell rating to a hold rating in a research note on Wednesday, November 8th. Noble Financial reissued a buy rating and issued a $24.00 target price on shares of Heron Therapeutics in a research note on Friday, October 6th. Oppenheimer reaffirmed a buy rating and set a $27.00 price objective on shares of Heron Therapeutics in a research note on Friday, November 10th. Finally, BidaskClub raised Heron Therapeutics from a sell rating to a hold rating in a research note on Saturday, August 26th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $28.73.

Heron Therapeutics (NASDAQ:HRTX) traded up $0.50 on Friday, reaching $15.95. The company had a trading volume of 1,263,665 shares, compared to its average volume of 1,107,416. The company has a current ratio of 2.12, a quick ratio of 2.02 and a debt-to-equity ratio of 0.62. Heron Therapeutics has a 1-year low of $12.21 and a 1-year high of $18.40.

Heron Therapeutics (NASDAQ:HRTX) last released its earnings results on Monday, November 6th. The biotechnology company reported ($0.77) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.87) by $0.10. The business had revenue of $8.57 million for the quarter, compared to analysts’ expectations of $8.12 million. Heron Therapeutics had a negative return on equity of 385.11% and a negative net margin of 831.89%. sell-side analysts anticipate that Heron Therapeutics will post -3.43 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in HRTX. Janus Henderson Group PLC bought a new position in shares of Heron Therapeutics during the second quarter valued at about $78,134,000. Vanguard Group Inc. grew its stake in shares of Heron Therapeutics by 40.2% during the first quarter. Vanguard Group Inc. now owns 1,875,103 shares of the biotechnology company’s stock valued at $28,127,000 after buying an additional 537,563 shares during the last quarter. Perceptive Advisors LLC bought a new position in shares of Heron Therapeutics during the third quarter valued at about $5,329,000. Rubric Capital Management LP boosted its holdings in shares of Heron Therapeutics by 11.8% during the third quarter. Rubric Capital Management LP now owns 1,900,000 shares of the biotechnology company’s stock worth $30,685,000 after purchasing an additional 200,000 shares during the period. Finally, Chartwell Investment Partners LLC purchased a new stake in shares of Heron Therapeutics during the third quarter worth about $2,340,000.

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Heron Therapeutics Company Profile

Heron Therapeutics, Inc is a biotechnology company engaged in developing pharmaceutical products for patients suffering from cancer or pain. The Company’s product candidates include SUSTOL, HTX-019 and HTX-011. All of its product candidates utilize science and technology platforms, including its Biochronomer drug delivery technology.

Analyst Recommendations for Heron Therapeutics (NASDAQ:HRTX)

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