Market Runner: What Next for Heron Therapeutics Inc After Today’s Gap Down?

Market Runner: What Next for Heron Therapeutics Inc After Today's Gap Down?

The stock of Heron Therapeutics Inc (NASDAQ:HRTX) gapped down by $0.18 today and has $15.78 target or 5.00% below today’s $16.61 share price. The 9 months technical chart setup indicates high risk for the $653.56 million company. The gap down was reported on Oct, 4 by Barchart.com. If the $15.78 price target is reached, the company will be worth $32.68M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 3.60% or $0.62 during the last trading session, hitting $16.61. About 1.87 million shares traded hands or 257.91% up from the average. Heron Therapeutics Inc (NASDAQ:HRTX) has declined 5.57% since March 1, 2016 and is downtrending. It has underperformed by 17.79% the S&P500.

Analysts await Heron Therapeutics Inc (NASDAQ:HRTX) to report earnings on November, 4. They expect $-1.11 EPS, down 76.19% or $0.48 from last year’s $-0.63 per share. After $-1.17 actual EPS reported by Heron Therapeutics Inc for the previous quarter, Wall Street now forecasts -5.13% EPS growth.

Heron Therapeutics Inc (NASDAQ:HRTX) Ratings Coverage

Out of 6 analysts covering Heron Therapeutics (NASDAQ:HRTX), 6 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Heron Therapeutics has been the topic of 10 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The stock of Heron Therapeutics Inc (NASDAQ:HRTX) has “Buy” rating given on Monday, August 10 by Brean Capital. The stock of Heron Therapeutics Inc (NASDAQ:HRTX) has “Buy” rating given on Wednesday, September 23 by Jefferies. On Thursday, December 10 the stock rating was initiated by Lake Street with “Buy”. The company was initiated on Wednesday, September 2 by Bank of America. The rating was maintained by Brean Capital with “Buy” on Monday, August 3. The stock of Heron Therapeutics Inc (NASDAQ:HRTX) earned “Outperform” rating by Leerink Swann on Wednesday, September 23.

According to Zacks Investment Research, “Heron Therapeutics Inc. is a specialty pharmaceutical company. The company is developing products using its proprietary Biochronomer (TM) polymer-based drug delivery platform. Its product portfolio includes APF530, is being developed for the prevention of acute chemotherapy-induced nausea and vomiting. Heron Therapeutics Inc., formerly known as A.P. Pharma, Inc., is based in REDWOOD CITY CA.”

More notable recent Heron Therapeutics Inc (NASDAQ:HRTX) news were published by: Nasdaq.com which released: “Oversold Conditions For Heron Therapeutics” on October 03, 2016, also Schaeffersresearch.com with their article: “Analyst Update: Heron Therapeutics Inc, Fred’s, Inc., and Cognizant Technology …” published on October 03, 2016, Fool.com published: “Here’s Why Heron Therapeutics, Inc. Stock Gained 25% Today” on September 23, 2015. More interesting news about Heron Therapeutics Inc (NASDAQ:HRTX) were released by: Seekingalpha.com and their article: “Heron Therapeutics Has An Upcoming Approval” published on July 18, 2016 as well as Wsj.com‘s news article titled: “FDA Approves Heron Therapeutics Anti-nausea Drug Sustol” with publication date: August 10, 2016.

HRTX Company Profile

Heron Therapeutics, Inc., incorporated on February 5, 1987, is a biotechnology company. The Firm is 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 (Biochronomer technology), which can deliver therapeutic levels of a range of otherwise short-acting pharmacological agents over a period of days to weeks with a single subcutaneous injection.

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