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The CEO of Heron Therapeutics is Exercising Options


Today it was reported that the CEO of Heron Therapeutics (NASDAQ: HRTX), Barry Quart, exercised options to buy 19,675 HRTX shares at $7.20 a share, for a total transaction value of $141.7K.

This recent transaction increases Barry Quart’s holding in the company by 28.27% to a total of $3.08 million. Following Barry Quart’s last HRTX Buy transaction on March 03, 2016, the stock climbed by 16.8%.

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Based on Heron Therapeutics’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $17.28 million and GAAP net loss of $38.67 million. In comparison, last year the company earned revenue of $8.51 million and had a GAAP net loss of $42.8 million. Currently, Heron Therapeutics has an average volume of 349.3K.

Based on 6 analyst ratings, the analyst consensus is Strong Buy with an average price target of $57.83, reflecting a 65.0% upside. Eight different firms, including Cantor Fitzgerald and Cowen & Co., currently also have a Buy rating on the stock.

In the last 30 days, insiders have sold $96.35M worth of HRTX shares and purchased $141.7K worth of HRTX shares. The insider sentiment on Heron Therapeutics has been negative according to 14 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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Heron Therapeutics, Inc. is a biotechnology company, which develops pharmaceutical products for patients suffering from cancer. The company develops products by using its proprietary Biochronomer polymer based drug delivery technology. Its products include SUSTOL, Pipeline, Cinvanti and HTX-011.