Heron Therapeutics Inc [NASDAQ: HRTX] stock went on an upward path that rose over 5.88% on Thursday, amounting to a one-week price increase of more than 22.55%. The company report on January 23, 2024 at 8:00 PM that Heron Therapeutics Announces FDA Approval of ZYNRELEF® Indication Expansion to Include Additional Orthopedic and Soft Tissue Procedures.
– Expanded indication for ZYNRELEF now covers approximately 13 million procedures annually –.
Heron Therapeutics, Inc. (Nasdaq: HRTX), a commercial-stage biotechnology company, today announced that the U.S. Food and Drug Administration (the “FDA”) has approved its supplemental New Drug Application (“NDA”) for ZYNRELEF® (bupivacaine and meloxicam) extended-release solution to expand the indication for soft tissue and orthopedic surgical procedures including foot and ankle, and other procedures in which direct exposure to articular cartilage is avoided. ZYNRELEF was previously approved for foot and ankle, small-to-medium open abdominal, and lower extremity total joint arthroplasty surgical procedures in adults.
Over the last 12 months, HRTX stock rose by 12.06%. The one-year Heron Therapeutics Inc stock forecast points to a potential upside of 56.82. The average equity rating for HRTX stock is currently 1.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $432.20 million, with 150.07 million shares outstanding and 147.62 million shares in the current float. Compared to the average trading volume of 3.69M shares, HRTX stock reached a trading volume of 3761635 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Heron Therapeutics Inc [HRTX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HRTX shares is $6.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HRTX stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Guggenheim have made an estimate for Heron Therapeutics Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 27, 2020.
The Average True Range (ATR) for Heron Therapeutics Inc is set at 0.20, with the Price to Sales ratio for HRTX stock in the period of the last 12 months amounting to 3.52.
HRTX Stock Performance Analysis:
Heron Therapeutics Inc [HRTX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 22.55. With this latest performance, HRTX shares gained by 30.91% in over the last four-week period, additionally plugging by 76.69% over the last 6 months – not to mention a rise of 12.06% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HRTX stock in for the last two-week period is set at 68.42, with the RSI for the last a single of trading hit 71.64, and the three-weeks RSI is set at 66.88 for Heron Therapeutics Inc [HRTX]. The present Moving Average for the last 50 days of trading for this stock 2.06, while it was recorded at 2.63 for the last single week of trading, and 1.47 for the last 200 days.
Insight into Heron Therapeutics Inc Fundamentals:
Heron Therapeutics Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.91 and a Current Ratio set at 2.43.
HRTX Stock EPS
With the latest financial reports released by the company, Heron Therapeutics Inc posted -0.17/share EPS, while the average EPS was predicted by analysts to be reported at -0.28/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 39.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HRTX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Heron Therapeutics Inc go to 47.50%.
Heron Therapeutics Inc [HRTX] Institutonal Ownership Details
The top three institutional holders of HRTX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in HRTX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in HRTX stock with ownership which is approximately 5.8325%.
