Heron Therapeutics Inc (NASDAQ:HRTX) Expected to Post Earnings of -$0.67 Per Share

Wall Street analysts forecast that Heron Therapeutics Inc (NASDAQ:HRTX) will announce earnings per share of ($0.67) for the current quarter, according to Zacks. Four analysts have provided estimates for Heron Therapeutics’ earnings. The highest EPS estimate is ($0.53) and the lowest is ($0.77). Heron Therapeutics posted earnings per share of ($0.54) in the same quarter last year, which would suggest a negative year-over-year growth rate of 24.1%. The firm is expected to announce its next earnings results on Wednesday, August 14th.

On average, analysts expect that Heron Therapeutics will report full-year earnings of ($2.66) per share for the current financial year, with EPS estimates ranging from ($3.15) to ($2.22). For the next year, analysts anticipate that the business will report earnings of ($1.32) per share, with EPS estimates ranging from ($1.67) to ($0.90). Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Heron Therapeutics.

Heron Therapeutics (NASDAQ:HRTX) last announced its earnings results on Thursday, May 9th. The biotechnology company reported ($0.80) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by ($0.30). Heron Therapeutics had a negative return on equity of 49.22% and a negative net margin of 194.43%. The business had revenue of $31.60 million for the quarter, compared to analyst estimates of $28.04 million. During the same period in the previous year, the company earned ($1.09) earnings per share. The company’s quarterly revenue was up 172.4% compared to the same quarter last year.

HRTX has been the subject of a number of research analyst reports. ValuEngine cut Heron Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. BidaskClub cut Heron Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 18th. Cowen reissued a “buy” rating on shares of Heron Therapeutics in a research report on Thursday, May 9th. Zacks Investment Research lowered Heron Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $54.00 price target on shares of Heron Therapeutics in a research report on Friday, February 22nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. Heron Therapeutics has an average rating of “Buy” and an average price target of $51.20.

In related news, Director John Poyhonen purchased 3,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were acquired at an average cost of $17.55 per share, for a total transaction of $52,650.00. Following the transaction, the director now owns 13,000 shares of the company’s stock, valued at $228,150. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Waage Christian purchased 1,400 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were bought at an average price of $18.04 per share, for a total transaction of $25,256.00. Following the completion of the transaction, the director now directly owns 1,400 shares in the company, valued at approximately $25,256. The disclosure for this purchase can be found here. Corporate insiders own 12.56% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of HRTX. Belpointe Asset Management LLC acquired a new stake in shares of Heron Therapeutics in the first quarter valued at about $323,000. Clearbridge Investments LLC boosted its holdings in Heron Therapeutics by 153.4% during the first quarter. Clearbridge Investments LLC now owns 2,180,577 shares of the biotechnology company’s stock valued at $53,293,000 after purchasing an additional 1,320,025 shares in the last quarter. FMR LLC boosted its holdings in Heron Therapeutics by 5.5% during the first quarter. FMR LLC now owns 8,473,847 shares of the biotechnology company’s stock valued at $207,101,000 after purchasing an additional 439,044 shares in the last quarter. Tang Kevin C bought a new position in shares of Heron Therapeutics in the first quarter valued at approximately $952,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Heron Therapeutics by 13.6% in the first quarter. Goldman Sachs Group Inc. now owns 791,071 shares of the biotechnology company’s stock valued at $19,333,000 after acquiring an additional 94,665 shares during the last quarter.

Shares of HRTX remained flat at $$17.65 during midday trading on Friday. The company’s stock had a trading volume of 716,419 shares, compared to its average volume of 710,492. Heron Therapeutics has a twelve month low of $16.20 and a twelve month high of $42.90. The firm has a market cap of $1.40 billion, a P/E ratio of -7.23 and a beta of 1.61. The company has a quick ratio of 4.06, a current ratio of 4.40 and a debt-to-equity ratio of 0.04.

Heron Therapeutics Company Profile

Heron Therapeutics, Inc, a biotechnology company, engages in developing treatments 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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