Brokerages expect Heron Therapeutics Inc (NASDAQ:HRTX) to announce earnings of ($0.82) per share for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Heron Therapeutics’ earnings. The highest EPS estimate is ($0.57) and the lowest is ($1.07). Heron Therapeutics reported earnings of ($1.00) per share in the same quarter last year, which would suggest a positive year over year growth rate of 18%. The firm is expected to announce its next quarterly earnings report on Wednesday, May 9th.
According to Zacks, analysts expect that Heron Therapeutics will report full-year earnings of ($2.50) per share for the current fiscal year, with EPS estimates ranging from ($3.69) to ($1.83). For the next fiscal year, analysts forecast that the company will report earnings of ($0.72) per share, with EPS estimates ranging from ($1.64) to $0.87. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Heron Therapeutics.
Heron Therapeutics (NASDAQ:HRTX) last posted its quarterly earnings data on Tuesday, February 27th. The biotechnology company reported ($1.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.29). Heron Therapeutics had a negative net margin of 641.87% and a negative return on equity of 230.70%. The firm had revenue of $10.05 million for the quarter, compared to analysts’ expectations of $9.00 million.
A number of analysts have commented on HRTX shares. Lake Street Capital set a $42.00 price objective on shares of Heron Therapeutics and gave the company a “buy” rating in a research note on Thursday, April 5th. Noble Financial reaffirmed a “buy” rating on shares of Heron Therapeutics in a research note on Wednesday, March 21st. BidaskClub lowered shares of Heron Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Cantor Fitzgerald set a $40.00 price objective on shares of Heron Therapeutics and gave the company a “buy” rating in a research note on Monday, March 19th. Finally, Cowen reaffirmed a “buy” rating on shares of Heron Therapeutics in a research note on Monday, March 19th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $35.92.
In other Heron Therapeutics news, Director Kevin C. Tang bought 192,308 shares of the company’s stock in a transaction dated Thursday, March 29th. The shares were bought at an average price of $26.00 per share, for a total transaction of $5,000,008.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Barry D. Quart sold 100,000 shares of the company’s stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $24.75, for a total value of $2,475,000.00. Following the completion of the transaction, the chief executive officer now owns 167,993 shares in the company, valued at approximately $4,157,826.75. The disclosure for this sale can be found here. Insiders sold a total of 218,000 shares of company stock worth $5,990,000 in the last quarter. 19.93% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of HRTX. Wells Fargo & Company MN increased its holdings in shares of Heron Therapeutics by 202.1% in the 3rd quarter. Wells Fargo & Company MN now owns 130,374 shares of the biotechnology company’s stock valued at $2,106,000 after purchasing an additional 87,212 shares during the period. Royce & Associates LP increased its holdings in Heron Therapeutics by 17.4% in the third quarter. Royce & Associates LP now owns 67,500 shares of the biotechnology company’s stock worth $1,090,000 after buying an additional 10,000 shares during the last quarter. Jane Street Group LLC acquired a new position in Heron Therapeutics in the third quarter worth approximately $223,000. Janus Henderson Group PLC increased its holdings in Heron Therapeutics by 2.2% in the third quarter. Janus Henderson Group PLC now owns 5,767,495 shares of the biotechnology company’s stock worth $93,145,000 after buying an additional 126,039 shares during the last quarter. Finally, Rubric Capital Management LP increased its holdings in Heron Therapeutics by 11.8% in the third quarter. Rubric Capital Management LP now owns 1,900,000 shares of the biotechnology company’s stock worth $30,685,000 after buying an additional 200,000 shares during the last quarter. Institutional investors own 97.40% of the company’s stock.
HRTX stock traded up $0.10 during mid-day trading on Friday, reaching $30.55. 1,694,329 shares of the stock traded hands, compared to its average volume of 1,302,426. Heron Therapeutics has a 52-week low of $12.70 and a 52-week high of $32.70. The firm has a market capitalization of $2,075.92, a PE ratio of 8.37 and a beta of 1.88.
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About Heron Therapeutics
Heron Therapeutics, Inc is a biotechnology company 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.
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