Heron Therapeutics Inc (NASDAQ:HRTX), a biotechnology company focused on improving the lives of patients by developing best-in-class medicines that address major unmet medical needs, announced the appointment of Christian Waage to Heron’s Board of Directors.
“Christian’s leadership experience in the biotechnology and healthcare industry along with his transaction experience and specialized regulatory, legal, and financial knowledge will be invaluable to Heron,” commented Barry D. Quart, Pharm.D., Chief Executive Officer of Heron Therapeutics, Inc. “We are thrilled to have Christian join the Heron team, particularly at such a transformative time for the Company.”
Mr. Waage currently serves as Managing Director at Receptos, a wholly owned subsidiary ofCelgene Corporation. Mr. Waage joined Receptos in December 2013 as Senior Vice President and General Counsel and played an instrumental role in its acquisition by Celgene for $7.2B inAugust 2015. Prior to Receptos, he served as Vice President, General Counsel and Corporate Secretary at Websense, Inc. from July 2012 until its acquisition by Vista Equity Partners for $1Bin August 2013. In addition to overseeing its acquisition, his responsibilities at Websenseincluded all legal affairs, including SEC reporting and compliance, corporate governance, litigation and licensing operations. Prior to Websense, Mr. Waage served as Vice President, General Counsel and Corporate Secretary of Ardea Biosciences, Inc. from March 2008 until its acquisition by AstraZeneca PLC for $1.3B in July 2012. Prior to Ardea Biosciences, Mr. Waage practiced law for over a decade at DLA Piper, where he was a partner. Mr. Waage received a J.D. from the University of San Diego School of Law and a B.A. degree in Economics from theUniversity of California, San Diego. (Original Source)
Shares of Heron Therapeutics closed yesterday at $18.09, down $0.32 or -1.74%. HRTX has a 1-year high of $42.25 and a 1-year low of $15.22. The stock’s 50-day moving average is $18.83 and its 200-day moving average is $20.73.
On the ratings front, Heron has been the subject of a number of recent research reports. In a report issued on May 26, Leerink Swann analyst Jason Gerberry reiterated a Buy rating on HRTX, with a price target of $45, which implies an upside of 148.8% from current levels. Separately, on May 6, Brean Murray Carret’s Jonathan Aschoff reiterated a Buy rating on the stock and has a price target of $55.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jason Gerberry and Jonathan Aschoff have a total average return of -8.7% and -12.9% respectively. Gerberry has a success rate of 35.5% and is ranked #3745 out of 3984 analysts, while Aschoff has a success rate of 30.7% and is ranked #3876.
The street is mostly Bullish on HRTX stock. Out of 5 analysts who cover the stock, 5 suggest a Buy rating . The 12-month average price target assigned to the stock is $47.00, which represents a potential upside of 159.8% from where the stock is currently trading.
Heron Therapeutics, Inc. is a biotechnology company develops pharmaceutical products for patients suffering from cancer or pain. The company develops products by using its proprietary Biochronomer polymer based drug delivery technology. Its primary products are SUSTOL, HTX-019 and HTX-011. The company has additional clinical and preclinical-stage programs in the area of pain management, all of which utilize its bioerodible, injectable and implantable delivery systems.