Leerink Swann Brokers Boost Earnings Estimates for Heron Therapeutics Inc (NASDAQ:HRTX)

Heron Therapeutics Inc (NASDAQ:HRTX) – Research analysts at Leerink Swann lifted their FY2018 earnings estimates for shares of Heron Therapeutics in a research report issued to clients and investors on Monday, October 15th, Zacks Investment Research reports. Leerink Swann analyst A. Fadia now expects that the biotechnology company will earn ($2.13) per share for the year, up from their previous forecast of ($2.15). Leerink Swann also issued estimates for Heron Therapeutics’ Q4 2018 earnings at ($0.36) EPS and FY2019 earnings at ($0.38) EPS.

Heron Therapeutics (NASDAQ:HRTX) last announced its earnings results on Wednesday, November 7th. The biotechnology company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05). The business had revenue of $19.79 million for the quarter, compared to the consensus estimate of $19.84 million. Heron Therapeutics had a negative net margin of 326.79% and a negative return on equity of 87.81%. Heron Therapeutics’s revenue was up 130.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.77) EPS.

Several other equities research analysts have also recently weighed in on the company. Cantor Fitzgerald set a $50.00 price target on Heron Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, October 30th. Zacks Investment Research raised Heron Therapeutics from a “sell” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Thursday, October 11th. BidaskClub cut Heron Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, September 22nd. Stifel Nicolaus began coverage on Heron Therapeutics in a research note on Thursday, September 13th. They issued a “buy” rating and a $55.00 price target on the stock. Finally, ValuEngine cut Heron Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, September 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $52.09.

Shares of Heron Therapeutics stock traded down $1.63 during midday trading on Wednesday, reaching $28.35. 1,456,947 shares of the company’s stock traded hands, compared to its average volume of 990,047. The company has a market cap of $2.42 billion, a PE ratio of 7.77 and a beta of 1.45. Heron Therapeutics has a 12 month low of $14.95 and a 12 month high of $42.90.

In related news, Director Kevin C. Tang sold 2,695,000 shares of the stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $35.75, for a total transaction of $96,346,250.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Kimberly Manhard sold 6,000 shares of the stock in a transaction on Monday, October 1st. The shares were sold at an average price of $32.07, for a total value of $192,420.00. Following the sale, the vice president now directly owns 6,000 shares in the company, valued at $192,420. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,701,494 shares of company stock worth $96,553,796. Insiders own 16.20% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. MYDA Advisors LLC purchased a new stake in shares of Heron Therapeutics during the second quarter valued at $354,000. FMR LLC lifted its holdings in Heron Therapeutics by 6.5% in the second quarter. FMR LLC now owns 11,290,956 shares of the biotechnology company’s stock valued at $438,654,000 after acquiring an additional 693,699 shares during the period. Castleark Management LLC lifted its holdings in Heron Therapeutics by 237.5% in the second quarter. Castleark Management LLC now owns 201,080 shares of the biotechnology company’s stock valued at $7,812,000 after acquiring an additional 141,505 shares during the period. Orbimed Advisors LLC lifted its holdings in Heron Therapeutics by 15.4% in the second quarter. Orbimed Advisors LLC now owns 1,315,100 shares of the biotechnology company’s stock valued at $51,092,000 after acquiring an additional 175,300 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Heron Therapeutics by 21.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 328,981 shares of the biotechnology company’s stock valued at $12,781,000 after acquiring an additional 58,965 shares during the period.

About Heron Therapeutics

Heron Therapeutics, Inc, a biotechnology company, engages in developing medicines to address unmet medical needs. The company's product candidates utilize its proprietary Biochronomer drug delivery technology, which delivers therapeutic levels of a range of short-acting pharmacological agents over a period from days to weeks with a single administration.

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Earnings History and Estimates for Heron Therapeutics (NASDAQ:HRTX)

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