Heron Therapeutics (HRTX) : Traders are bullish on Heron Therapeutics (HRTX) as it has outperformed the S&P 500 by a wide margin of 17.72% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 7.93%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 7.99% in the last 1 week, and is up 18.94% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 14.84% and the 50-Day Moving Average is 12.42%. Heron Therapeutics (NASDAQ:HRTX): stock turned positive on Friday. Though the stock opened at $20.27, the bulls momentum made the stock top out at $20.5832 level for the day. The stock recorded a low of $19.84 and closed the trading day at $20.41, in the green by 0.89%. The total traded volume for the day was 529,959. The stock had closed at $20.23 in the previous days trading.
The company Insiders own 19.7% of Heron Therapeutics shares according to the proxy statements. Also, Cantor Fitzgerald initiates coverage on Heron Therapeutics (NASDAQ:HRTX) The brokerage firm has issued a Buy rating on the shares. The Analysts at the ratings agency announces the price target to $41 per share. The rating by the firm was issued on May 2, 2016.
Heron Therapeutics, Inc. is a biotechnology company. The Company uses its technology to develop products to address unmet medical needs. Its Biochronomer polymer-based drug delivery platform is designed to improve the therapeutic profile of injectable pharmaceuticals. The Companys product candidate, SUSTOL (granisetron injection, extended release), is being developed for the prevention of both acute- and delayed-onset chemotherapy-induced nausea and vomiting (CINV). Sustol is in Phase III Clinical trials. The Companys product development program also focuses on identifying new delivery methods and formulations utilizing known compounds that may expand or extend the therapeutic effort, or eliminate the drawbacks of current therapies. The Companys other product candidates include HTX-019 for CINV, which is in Preclinical state; HTX-011 for Post-operative pain management, which is in Phase I trials, and HTX-003 for chronic pain management, which is in Preclinical state.