Heron Therapeutics, Inc. (HRTX) Climbs 3.79% Today: Breaking Down The Root Causes

Stay Ahead of Wall Street. Find out what is happening to Heron Therapeutics, Inc. (NASDAQ:HRTX) stock today? Its price is jumping 0.75 points, trading at $20.52 levels, and is up 3.79% from its previous close of $19.77. The shares seem to have an active trading volume day with a reported 934919 contracts so far this session. HRTX shares had a relatively better volume day versus average trading capacity of 745.84 thousand shares, but with a 79.71 million float and a 12.27% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for HRTX stock indicates that the average analyst price target is $43 per share. This means the stock has a potential increase of 109.55% from where the HRTX share price has been trading recently which is between $18.24 and $19.78. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $26.

The shorts are climbing into Heron Therapeutics, Inc. (HRTX) stock. The latest set of short interest data was released on 15 August 2019, and the numbers show a rise in short interest in HRTX shares. While short interest still represents only 23.8% of HRTX’s float, the number of shares shorted have risen by 547309. The number of shares shorted advanced to 18967909 shares, up from 18420600 shares during the preceding fortnight. With average daily trading volumes at 1003039 shares, days to cover decreased to about 27.09705 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “How Many Heron Therapeutics, Inc. (NASDAQ:HRTX) Shares Did Insiders Buy, In The Last Year?” and dated September 04, 2019.

During the recent trading session for Heron Therapeutics, Inc. (NASDAQ:HRTX), the company witnessed their stock rise $2.55 over a week and surge $2.42 from the price 20 days ago. When compared to their established 52-week high of $37.25, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 09/12/18. The recent low of $15.68 stood for a -46.7% since 08/07/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.4 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for Heron Therapeutics, Inc., the two-week RSI stands at 66.27. This figure suggests that HRTX stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current HRTX readings is similarly very revealing as it has a stochastic reading of 91.81% at this stage. This figure means that HRTX share price today is being oversold.

Technical chart claims that Heron Therapeutics, Inc. (HRTX) would settle between $20.29/share to $20.8/share level. However, if the stock price goes below the $18.75 mark, then the market for Heron Therapeutics, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $17.72 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.91. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at Needham lifted target price for shares of HRTX but were stick to Buy recommendation for the stock in their opinion released on January 16. The price target has been raised from $66 to $64. Evercore ISI, analysts launched coverage of Heron Therapeutics, Inc. (NASDAQ:HRTX) stock with a Outperform recommendation, according to their flash note issued to investors on April 05. Analysts at Mizuho are sticking to their Buy stance. However, on March 19, they lifted price target for these shares to $35 from $28.

HRTX equity has an average rating of 1.13, with the figure leaning towards a bullish end. 8 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 8 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 8 analysts rated Heron Therapeutics, Inc. (NASDAQ:HRTX) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, HRTX stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is NA while for the average stock in the same group, the multiple is 3.8. Heron Therapeutics, Inc. current P/B ratio of 5.17 means it is trading at a premium against its industry’s 2.94.

Heron Therapeutics, Inc. (HRTX)’s current-quarter revenues are projected to climb by nearly 69.91% to hit $33.63 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 68.33% from $77.47 million to a noteworthy $130420. At the other end of the current quarter income statement, Heron Therapeutics, Inc. is expected to see its adjusted earnings surge by roughly -24.49% to hit $-0.61 per share. For the fiscal year, HRTX’s earnings are projected to climb by roughly -11.89% to hit $-2.73 per share.